Accel Wealth Management Buys 104 Shares of Prudential Financial, Inc. (NYSE:PRU)

Accel Wealth Management lifted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 0.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 15,310 shares of the financial services provider’s stock after acquiring an additional 104 shares during the quarter. Accel Wealth Management’s holdings in Prudential Financial were worth $1,797,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Choreo LLC boosted its position in Prudential Financial by 163.5% during the 4th quarter. Choreo LLC now owns 6,940 shares of the financial services provider’s stock valued at $720,000 after buying an additional 4,306 shares during the period. Cullinan Associates Inc. boosted its position in 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 buying an additional 145,423 shares during the period. Greenwood Capital Associates LLC purchased a new stake in Prudential Financial during the 4th quarter valued at $1,087,000. Crestline Management LP boosted its position in Prudential Financial by 50.0% during the 4th quarter. Crestline Management LP now owns 60,000 shares of the financial services provider’s stock valued at $6,223,000 after buying an additional 20,000 shares during the period. Finally, Nomura Holdings Inc. purchased a new stake in Prudential Financial during the 4th quarter valued at $761,000. 56.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total transaction of $604,933.62. Following the transaction, the senior vice president now owns 12,236 shares of the company’s stock, valued at $1,426,472.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction that occurred 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 owns 202,083 shares in the company, valued at $23,960,981.31. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total transaction of $604,933.62. Following the sale, the senior vice president now owns 12,236 shares in the company, valued at approximately $1,426,472.88. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Jefferies Financial Group dropped their price target on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Wells Fargo & Company upped their price objective on shares of Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a report on Thursday, April 11th. Morgan Stanley upped their price objective on shares of Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Piper Sandler decreased their price objective on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and a consensus target price of $115.92.

Prudential Financial Price Performance

Shares of NYSE PRU remained flat at $118.55 during trading on Thursday. 718,184 shares of the stock were exchanged, compared to its average volume of 1,321,852. The firm’s 50-day moving average price is $116.75 and its 200 day moving average price is $111.20. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market capitalization of $42.56 billion, a PE ratio of 20.16, a PEG ratio of 0.89 and a beta of 1.34. Prudential Financial, Inc. has a 12-month low of $87.57 and a 12-month high of $121.39.

Prudential Financial (NYSE:PRU) last announced 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). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The company 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 business earned $2.66 EPS. The business’s revenue was up 69.9% compared to the same quarter last year. As a group, research analysts predict that Prudential Financial, Inc. will post 13.41 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend was Monday, May 20th. Prudential Financial’s dividend payout ratio is currently 88.44%.

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.