Kestra Private Wealth Services LLC Has $1.95 Million Position in Prudential Financial, Inc. (NYSE:PRU)

Kestra Private Wealth Services LLC increased its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 80.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,475 shares of the financial services provider's stock after acquiring an additional 7,331 shares during the period. Kestra Private Wealth Services LLC's holdings in Prudential Financial were worth $1,953,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Grove Bank & Trust lifted its stake in shares of Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock worth $26,000 after purchasing an additional 87 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Prudential Financial during the 3rd quarter worth $31,000. CGC Financial Services LLC lifted its stake in shares of Prudential Financial by 82.1% during the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock worth $33,000 after purchasing an additional 124 shares during the period. Quarry LP lifted its stake in shares of Prudential Financial by 376.3% during the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider's stock worth $34,000 after purchasing an additional 222 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Prudential Financial during the 4th quarter worth $37,000. Institutional investors and hedge funds own 56.83% of the company's stock.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the acquisition, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The purchase 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.

Wall Street Analysts Forecast Growth

PRU has been the topic of several research reports. Piper Sandler cut their target price on Prudential Financial from $127.00 to $124.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Wells Fargo & Company lowered their target price on Prudential Financial from $117.00 to $115.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 14th. TD Cowen raised their target price on Prudential Financial from $130.00 to $133.00 and gave the company a "hold" rating in a research note on Wednesday, November 27th. Keefe, Bruyette & Woods lowered their target price on Prudential Financial from $129.00 to $125.00 and set a "market perform" rating for the company in a research note on Wednesday. Finally, Evercore ISI upgraded Prudential Financial from an "underperform" rating to an "inline" rating and raised their target price for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $125.46.

Prudential Financial Stock Performance

NYSE PRU traded down $0.37 during trading hours on Friday, reaching $111.54. The company's stock had a trading volume of 1,276,794 shares, compared to its average volume of 1,831,262. The company has a current ratio of 0.16, a quick ratio of 0.14 and a debt-to-equity ratio of 0.68. The business has a 50-day simple moving average of $117.87 and a 200 day simple moving average of $119.86. Prudential Financial, Inc. has a 52 week low of $104.44 and a 52 week high of $130.55. The stock has a market cap of $39.71 billion, a PE ratio of 14.93, a PEG ratio of 1.00 and a beta of 1.31.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts' consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Equities research analysts predict that Prudential Financial, Inc. will post 14.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date is Tuesday, February 18th. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's payout ratio is 69.61%.

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.