Cetera Investment Advisers Has $20.72 Million Stock Holdings in Prudential Financial, Inc. $PRU

Cetera Investment Advisers raised its position in Prudential Financial, Inc. (NYSE:PRU) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 192,858 shares of the financial services provider’s stock after acquiring an additional 3,544 shares during the period. Cetera Investment Advisers’ holdings in Prudential Financial were worth $20,721,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. raised its stake in shares of Prudential Financial by 90.2% in the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 111 shares in the last quarter. Cheviot Value Management LLC acquired a new position in shares of Prudential Financial in the 1st quarter valued at $26,000. AlphaQuest LLC lifted its holdings in shares of Prudential Financial by 12,250.0% during the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 245 shares during the period. Clearstead Trust LLC boosted its position in shares of Prudential Financial by 350.8% during the 1st quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 207 shares in the last quarter. Finally, N.E.W. Advisory Services LLC bought a new stake in Prudential Financial in the first quarter valued at about $45,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wolfe Research initiated coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They set a “peer perform” rating for the company. Keefe, Bruyette & Woods raised their target price on Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Barclays lowered their price target on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Morgan Stanley lifted their price objective on Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Finally, Evercore ISI boosted their target price on shares of Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Prudential Financial has an average rating of “Hold” and an average price target of $120.73.

Prudential Financial Stock Down 0.8%

Shares of PRU opened at $102.73 on Wednesday. The company has a market capitalization of $35.96 billion, a P/E ratio of 14.11, a PEG ratio of 0.88 and a beta of 1.05. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The business’s 50 day simple moving average is $103.59 and its 200-day simple moving average is $104.71. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. The firm had revenue of $8.35 billion during the quarter. Prudential Financial had a return on equity of 16.98% and a net margin of 4.65%. As a group, sell-side analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Tuesday, November 18th will be given a dividend of $1.35 per share. The ex-dividend date is Tuesday, November 18th. This represents a $5.40 annualized dividend and a yield of 5.3%. Prudential Financial’s dividend payout ratio is 74.18%.

Insider Transactions at Prudential Financial

In other news, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the sale, the executive vice president directly owned 21,506 shares of the company’s stock, valued at $2,358,132.90. This represents a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Charles F. Lowrey sold 48,164 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the completion of the sale, the chairman directly owned 165,564 shares of the company’s stock, valued at approximately $17,779,917.96. This represents a 22.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is owned by corporate insiders.

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.