Etesian Wealth Advisors Inc. Lowers Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Etesian Wealth Advisors Inc. lessened its holdings in Prudential Financial, Inc. (NYSE:PRU) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,825 shares of the financial services provider’s stock after selling 141 shares during the quarter. Etesian Wealth Advisors Inc.’s holdings in Prudential Financial were worth $919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the stock. Cambridge Trust Co. grew its stake in Prudential Financial by 77.2% during the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 105 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of Prudential Financial during the fourth quarter valued at about $26,000. Headinvest LLC purchased a new position in Prudential Financial during the 3rd quarter valued at about $27,000. Arlington Trust Co LLC raised its position in Prudential Financial by 151.6% during the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 185 shares during the last quarter. Finally, Pineridge Advisors LLC bought a new stake in shares of Prudential Financial in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was bought at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the acquisition, the insider now owns 3,883,390 shares in the company, valued at $107,065,062.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the firm’s 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 purchase, the insider now owns 3,883,390 shares of the company’s stock, valued at approximately $107,065,062.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Timothy L. Schmidt sold 5,189 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the sale, the senior vice president now owns 12,236 shares of the company’s stock, valued at $1,426,472.88. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Evercore ISI upped their target price on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a report on Thursday, April 25th. Morgan Stanley lifted their target price on shares of Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods lifted their price objective on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. Finally, Jefferies Financial Group raised shares of Prudential Financial from a “hold” rating to a “buy” rating and raised their price objective for the stock from $121.00 to $143.00 in a report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $115.25.

Prudential Financial Stock Performance

Shares of PRU traded down $1.33 during trading hours on Wednesday, hitting $117.26. The stock had a trading volume of 353,851 shares, compared to its average volume of 1,475,792. The firm has a market capitalization of $42.10 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 0.89 and a beta of 1.35. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a 50-day moving average price of $115.87 and a 200 day moving average price of $110.65. Prudential Financial, Inc. has a fifty-two week low of $85.04 and a fifty-two week high of $121.39.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The firm had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. During the same period in the previous year, the company earned $2.66 earnings per share. The company’s revenue was up 69.9% compared to the same quarter last year. As a group, research analysts anticipate that Prudential Financial, Inc. will post 13.41 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Monday, May 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

About Prudential Financial

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.