Priebe Wealth Holdings LLC Takes $220,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Priebe Wealth Holdings LLC purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,870 shares of the financial services provider’s stock, valued at approximately $220,000.

A number of other large investors have also recently added to or reduced their stakes in PRU. Vanguard Group Inc. increased its stake in shares of Prudential Financial by 13.9% during the fourth quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock worth $4,386,192,000 after purchasing an additional 5,154,865 shares during the period. International Assets Investment Management LLC increased its position in Prudential Financial by 9,281.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock worth $141,962,000 after purchasing an additional 1,354,248 shares in the last quarter. Norges Bank acquired a new position in shares of Prudential Financial during the fourth quarter worth $113,478,000. Dimensional Fund Advisors LP grew its position in Prudential Financial by 10.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock worth $414,926,000 after acquiring an additional 388,363 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new position in shares of Prudential Financial during the third quarter valued at $34,251,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Piper Sandler reduced their price target on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Wells Fargo & Company increased their target price on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a report on Thursday, April 11th. Jefferies Financial Group upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and upped their price objective for the stock from $121.00 to $143.00 in a report on Wednesday, May 22nd. Evercore ISI upped their target price on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a report on Thursday, April 25th. Finally, Morgan Stanley upped their price target on Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $115.25.

Prudential Financial Stock Performance

Prudential Financial stock traded down $1.90 during mid-day trading on Wednesday, reaching $116.69. The company’s stock had a trading volume of 133,724 shares, compared to its average volume of 1,473,988. Prudential Financial, Inc. has a 12-month low of $85.04 and a 12-month high of $121.39. The firm’s fifty day moving average price is $115.87 and its two-hundred day moving average price is $110.65. 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 company has a market capitalization of $41.89 billion, a P/E ratio of 19.87, a PEG ratio of 0.89 and a beta of 1.35.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). The company had revenue of $15.01 billion during the quarter, compared to analysts’ expectations of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. Prudential Financial’s quarterly revenue was up 69.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.66 EPS. Sell-side analysts predict that Prudential Financial, Inc. will post 13.41 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Tuesday, May 21st were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend was Monday, May 20th. Prudential Financial’s payout ratio is presently 88.44%.

Insider Buying and Selling at Prudential Financial

In other news, 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 transaction of $604,933.62. Following the transaction, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at $1,426,472.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total transaction of $604,933.62. Following the completion of the transaction, the senior vice president now owns 12,236 shares in the company, valued at $1,426,472.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Falzon sold 130,092 shares of the firm’s stock in a transaction dated 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 owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

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.