Prudential Financial, Inc. $PRU Shares Newly Purchased by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,918 shares of the financial services provider’s stock, valued at approximately $672,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sterling Financial Planning Inc. purchased a new stake in shares of Prudential Financial during the 3rd quarter valued at approximately $209,000. North Dakota State Investment Board grew its stake in Prudential Financial by 2.3% in the 3rd quarter. North Dakota State Investment Board now owns 10,656 shares of the financial services provider’s stock valued at $1,210,000 after buying an additional 243 shares in the last quarter. Lynx Investment Advisory grew its stake in Prudential Financial by 204.5% in the 3rd quarter. Lynx Investment Advisory now owns 9,288 shares of the financial services provider’s stock valued at $1,055,000 after buying an additional 6,238 shares in the last quarter. William Mack & Associates Inc. bought a new stake in Prudential Financial during the 3rd quarter valued at $46,000. Finally, Victory Financial Group LLC purchased a new stake in shares of Prudential Financial during the third quarter worth $277,000. Institutional investors own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In related news, EVP Ann Kappler sold 7,652 shares of Prudential Financial stock in a transaction on Friday, August 14th. The stock was sold at an average price of $125.01, for a total transaction of $956,576.52. Following the completion of the sale, the executive vice president owned 14,407 shares of the company’s stock, valued at approximately $1,801,019.07. This trade represents a 34.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of analyst reports. Barclays cut their price target on Prudential Financial from $96.00 to $94.00 and set an “underweight” rating for the company in a report on Monday, October 19th. BMO Capital Markets boosted their price objective on Prudential Financial from $90.00 to $120.00 and gave the company an “underperform” rating in a research note on Friday, August 21st. Piper Sandler dropped their price objective on Prudential Financial from $128.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, October 12th. JPMorgan Chase & Co. cut their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, October 22nd. Finally, Wall Street Zen lowered Prudential Financial from a “buy” rating to a “hold” rating in a report on Monday, September 28th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $111.27.

Prudential Financial Stock Performance

Prudential Financial stock opened at $116.35 on Friday. Prudential Financial, Inc. has a 1-year low of $91.89 and a 1-year high of $127.72. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $40.14 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 1.95 and a beta of 0.85. The firm’s 50 day simple moving average is $116.96 and its 200 day simple moving average is $108.79.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.52 by $0.56. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.36 billion. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. During the same period last year, the firm earned $3.58 EPS. As a group, analysts expect that Prudential Financial, Inc. will post 13.51 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Tuesday, August 25th. Prudential Financial’s dividend payout ratio (DPR) is 50.72%.

About Prudential Financial

Prudential Financial, Inc (NYSE: PRU) is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in Newark, New Jersey, in 1875, the company serves individuals, businesses and institutional investors through a range of businesses and distribution channels.

In the United States, Prudential offers life insurance, annuities, retirement plans and employee benefits, including group life, disability and dental insurance.