By otakuyassine3@gmail.com 
World Investment Advisors LLC grew its stake in Prudential Financial, Inc. (NYSE:PRU – Free Report) by 4.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,792 shares of the financial services provider’s stock after purchasing an additional 127 shares during the quarter. World Investment Advisors LLC’s holdings in Prudential Financial were worth $338,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of PRU. Raymond James Trust N.A. lifted its stake in Prudential Financial by 1.1% during the 2nd quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock valued at $951,000 after acquiring an additional 87 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its position in shares of Prudential Financial by 1.2% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock valued at $891,000 after purchasing an additional 89 shares in the last quarter. Quotient Wealth Partners LLC boosted its holdings in Prudential Financial by 3.9% during the second quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock worth $284,000 after purchasing an additional 92 shares during the last quarter. Daymark Wealth Partners LLC grew its position in Prudential Financial by 3.9% in the 3rd quarter. Daymark Wealth Partners LLC now owns 2,616 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 97 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in Prudential Financial by 2.7% in the 3rd quarter. UMB Bank n.a. now owns 3,660 shares of the financial services provider’s stock valued at $443,000 after buying an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.
Prudential Financial Trading Down 3.6 %
NYSE:PRU opened at $114.59 on Thursday. Prudential Financial, Inc. has a 1 year low of $100.60 and a 1 year high of $130.55. The stock’s fifty day moving average price is $124.80 and its two-hundred day moving average price is $120.45. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market cap of $40.79 billion, a P/E ratio of 10.19, a P/E/G ratio of 0.87 and a beta of 1.29.
Prudential Financial (NYSE:PRU – Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The business had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the prior year, the firm posted $3.44 EPS. As a group, analysts expect that Prudential Financial, Inc. will post 13.35 EPS for the current year.
Prudential Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.
Analyst Ratings Changes
Several research firms have recently issued reports on PRU. Piper Sandler upped their target price on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and upped their price objective for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Bank of America lifted their target price on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. TD Cowen increased their price target on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Eleven analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and an average target price of $126.33.
View Our Latest Stock Report on PRU
Insiders Place Their Bets
In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were acquired at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.
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.
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