Leo Wealth LLC Purchases Shares of 1,785 Prudential Financial, Inc. (NYSE:PRU)

Leo Wealth LLC purchased a new position in Prudential Financial, Inc. (NYSE:PRU) during the 3rd quarter, HoldingsChannel reports. The fund purchased 1,785 shares of the financial services provider’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Cullinan Associates Inc. boosted its position in shares of Prudential Financial by 2,355.0% during the 1st quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock valued at $17,798,000 after acquiring an additional 145,423 shares during the last quarter. National Bank of Canada FI grew its stake in Prudential Financial by 44.9% in the 1st quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock worth $27,327,000 after buying an additional 71,274 shares in the last quarter. Brookstone Capital Management increased its holdings in shares of Prudential Financial by 1,635.0% in the 1st quarter. Brookstone Capital Management now owns 87,201 shares of the financial services provider’s stock worth $10,237,000 after buying an additional 82,175 shares during the last quarter. ORG Partners LLC bought a new stake in shares of Prudential Financial during the 2nd quarter worth $156,000. Finally, Russell Investments Group Ltd. grew its position in Prudential Financial by 25.0% in the first quarter. Russell Investments Group Ltd. now owns 180,555 shares of the financial services provider’s stock worth $21,171,000 after acquiring an additional 36,159 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now directly owns 14,535 shares in the company, valued at $1,648,705.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of Prudential Financial stock in a transaction on Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PRU shares. JPMorgan Chase & Co. lifted their price target on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Barclays assumed coverage on Prudential Financial in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 target price for the company. Wells Fargo & Company boosted their price objective on shares of Prudential Financial from $113.00 to $116.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $121.00 target price on shares of Prudential Financial in a report on Wednesday, August 21st. Finally, TD Cowen started coverage on shares of Prudential Financial in a research note on Wednesday, October 9th. They issued a “hold” rating and a $130.00 price target for the company. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $123.69.

Prudential Financial Stock Down 0.4 %

Shares of Prudential Financial stock opened at $125.16 on Thursday. The company’s fifty day simple moving average is $119.79 and its two-hundred day simple moving average is $117.69. Prudential Financial, Inc. has a 12-month low of $87.95 and a 12-month high of $128.52. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The company has a market cap of $44.93 billion, a P/E ratio of 21.29, a PEG ratio of 0.97 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing the consensus estimate of $3.43 by ($0.04). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Research analysts anticipate that Prudential Financial, Inc. will post 13.3 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is presently 88.44%.

Prudential Financial Company 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.