Impact Partnership Wealth LLC Has $1.30 Million Position in Prudential Financial, Inc. (NYSE:PRU)

Impact Partnership Wealth LLC lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 84.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,721 shares of the financial services provider's stock after buying an additional 4,920 shares during the period. Impact Partnership Wealth LLC's holdings in Prudential Financial were worth $1,298,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PRU. Creekmur Asset Management LLC lifted its position in shares of Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 108 shares during the last quarter. Lynx Investment Advisory acquired a new stake in Prudential Financial during the 2nd quarter valued at $29,000. Strategic Financial Concepts LLC raised its stake in Prudential Financial by 1,312.4% during the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 25,027 shares during the period. Crewe Advisors LLC acquired a new stake in Prudential Financial during the 1st quarter valued at $33,000. Finally, ESL Trust Services LLC acquired a new position in shares of Prudential Financial in the first quarter worth $34,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PRU shares. TD Cowen started coverage on shares of Prudential Financial in a report on Wednesday, October 9th. They issued a "hold" rating and a $130.00 price objective for the company. UBS Group upped their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a "neutral" rating in a report on Tuesday, August 13th. Jefferies Financial Group decreased their price target on shares of Prudential Financial from $143.00 to $141.00 and set a "buy" rating for the company in a report on Friday, June 28th. Piper Sandler upped their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Finally, Citigroup upped their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the company a "neutral" rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $123.69.

Prudential Financial Stock Performance

Shares of NYSE PRU traded up $0.20 during mid-day trading on Thursday, hitting $125.36. The company had a trading volume of 678,479 shares, compared to its average volume of 1,477,703. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. The business's 50-day simple moving average is $119.79 and its 200-day simple moving average is $117.69. Prudential Financial, Inc. has a 12 month low of $87.95 and a 12 month high of $128.52. The firm has a market cap of $44.75 billion, a P/E ratio of 16.11, a PEG ratio of 0.96 and a beta of 1.30.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The company had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. As a group, analysts predict that Prudential Financial, Inc. will post 13.3 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial's dividend payout ratio (DPR) is presently 66.84%.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the company's stock in a transaction that occurred on Tuesday, October 8th. The stock was purchased at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the transaction, the insider now directly owns 4,208,549 shares of the company's stock, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the company's stock in a transaction dated Tuesday, October 8th. The stock was bought at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the acquisition, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the sale, the executive vice president now directly owns 14,535 shares of the company's stock, valued at approximately $1,648,705.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company 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.