3,481 Shares in Prudential Financial, Inc. (NYSE:PRU) Bought by SteelPeak Wealth LLC

SteelPeak Wealth LLC acquired a new stake in Prudential Financial, Inc. (NYSE:PRU) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,481 shares of the financial services provider’s stock, valued at approximately $409,000.

A number of other large investors also recently bought and sold shares of PRU. Cornerstone Wealth Group LLC boosted its holdings in shares of Prudential Financial by 3.0% in the first quarter. Cornerstone Wealth Group LLC now owns 55,169 shares of the financial services provider’s stock valued at $6,477,000 after acquiring an additional 1,596 shares in the last quarter. Norwood Financial Corp raised its stake in shares of Prudential Financial by 580.0% during the 1st quarter. Norwood Financial Corp now owns 340 shares of the financial services provider’s stock worth $40,000 after buying an additional 290 shares in the last quarter. Prairie Sky Financial Group LLC acquired a new stake in shares of Prudential Financial in the 1st quarter valued at approximately $225,000. PFS Partners LLC boosted its stake in shares of Prudential Financial by 65.6% in the first quarter. PFS Partners LLC now owns 631 shares of the financial services provider’s stock valued at $74,000 after buying an additional 250 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC grew its holdings in Prudential Financial by 57.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 8,690 shares of the financial services provider’s stock worth $1,020,000 after acquiring an additional 3,179 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PRU shares. Morgan Stanley raised their target price on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Evercore ISI raised their price objective on shares of Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research note on Thursday, April 25th. Jefferies Financial Group lowered their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday. Keefe, Bruyette & Woods lifted their price target on shares of Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company upped their price target on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $115.08.

Prudential Financial Stock Performance

NYSE:PRU opened at $117.19 on Monday. Prudential Financial, Inc. has a 1-year low of $86.69 and a 1-year high of $121.39. The firm has a 50 day simple moving average of $116.38 and a 200-day simple moving average of $110.96. The firm has a market cap of $42.07 billion, a PE ratio of 19.93, a P/E/G ratio of 0.88 and a beta of 1.34. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). The business had revenue of $15.01 billion during the quarter, compared to analyst estimates of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The firm’s quarterly revenue was up 69.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.66 earnings per share. On average, equities analysts expect that Prudential Financial, Inc. will post 13.41 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend was Monday, May 20th. Prudential Financial’s payout ratio is currently 88.44%.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was bought at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the purchase, the insider now directly owns 3,883,390 shares in the company, valued at $107,065,062.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of Prudential Financial stock in a transaction that occurred on Thursday, June 20th. The shares were purchased at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the transaction, the insider now owns 3,883,390 shares of the company’s stock, valued at approximately $107,065,062.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Falzon sold 130,092 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the sale, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Prudential Financial Profile

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.