LMG Wealth Partners LLC Grows Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

LMG Wealth Partners LLC lifted its position in shares of Prudential Financial, Inc. (NYSE:PRUFree Report) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,269 shares of the financial services provider’s stock after purchasing an additional 917 shares during the period. Prudential Financial accounts for about 3.0% of LMG Wealth Partners LLC’s holdings, making the stock its 8th biggest position. LMG Wealth Partners LLC’s holdings in Prudential Financial were worth $10,710,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC increased its holdings in Prudential Financial by 104,987.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,450,633 shares of the financial services provider’s stock worth $243,740,000 after buying an additional 2,448,301 shares during the last quarter. Norges Bank purchased a new position in shares of Prudential Financial in the fourth quarter worth about $172,363,000. Cowa LLC increased its stake in shares of Prudential Financial by 9,930.2% in the first quarter. Cowa LLC now owns 771,824 shares of the financial services provider’s stock worth $912,000 after purchasing an additional 764,129 shares in the last quarter. Mariner LLC increased its stake in shares of Prudential Financial by 2,197.4% in the first quarter. Mariner LLC now owns 690,184 shares of the financial services provider’s stock worth $81,560,000 after purchasing an additional 660,142 shares in the last quarter. Finally, Virginia Retirement Systems ET AL purchased a new position in shares of Prudential Financial in the second quarter worth about $48,716,000. 56.83% of the stock is owned by institutional investors.

Prudential Financial Trading Up 0.0 %

Shares of PRU traded up $0.01 during mid-day trading on Tuesday, reaching $116.30. The company’s stock had a trading volume of 1,268,437 shares, compared to its average volume of 1,561,608. The stock has a market cap of $41.75 billion, a PE ratio of 17.38, a P/E/G ratio of 0.86 and a beta of 1.37. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. Prudential Financial, Inc. has a 52 week low of $77.22 and a 52 week high of $117.92. The company’s fifty day moving average price is $109.35 and its two-hundred day moving average price is $101.61.

Prudential Financial (NYSE:PRUGet Free Report) last issued its earnings results on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.09). The firm had revenue of $13.02 billion during the quarter, compared to analysts’ expectations of $12.99 billion. Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.42 earnings per share. On average, analysts predict that Prudential Financial, Inc. will post 13.4 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were paid a $1.30 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Friday, February 16th. This represents a $5.20 dividend on an annualized basis and a yield of 4.47%. Prudential Financial’s payout ratio is presently 77.73%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PRU shares. Morgan Stanley lifted their target price on shares of Prudential Financial from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. UBS Group lifted their target price on shares of Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $118.00 price objective (down from $119.00) on shares of Prudential Financial in a research report on Wednesday, January 3rd. TheStreet upgraded shares of Prudential Financial from a “c+” rating to an “a-” rating in a research report on Tuesday, February 6th. Finally, Raymond James lowered shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $105.60.

View Our Latest Stock Analysis on PRU

Insider Buying and Selling at Prudential Financial

In other news, SVP Robert Axel sold 6,436 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total transaction of $719,930.96. Following the completion of the sale, the senior vice president now owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Prudential Financial news, SVP Robert Axel sold 6,436 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total transaction of $719,930.96. Following the completion of the sale, the senior vice president now directly owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total value of $782,792.58. Following the transaction, the executive vice president now owns 24,381 shares of the company’s stock, valued at $2,642,656.59. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,255 shares of company stock worth $3,215,664. Company insiders own 0.37% of the company’s stock.

Prudential Financial Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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