Lake Street Advisors Group LLC Increases Holdings in Prudential Financial, Inc. (NYSE:PRU)

Lake Street Advisors Group LLC increased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 6.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,837 shares of the financial services provider’s stock after buying an additional 219 shares during the period. Lake Street Advisors Group LLC’s holdings in Prudential Financial were worth $465,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in Prudential Financial by 0.9% during the fourth quarter. Wellington Management Group LLP now owns 39,001 shares of the financial services provider’s stock worth $4,045,000 after buying an additional 337 shares in the last quarter. SteelPeak Wealth LLC purchased a new stake in shares of Prudential Financial during the first quarter worth about $409,000. LVW Advisors LLC boosted its position in Prudential Financial by 64.8% during the first quarter. LVW Advisors LLC now owns 3,665 shares of the financial services provider’s stock worth $430,000 after acquiring an additional 1,441 shares during the last quarter. Kowal Investment Group LLC grew its stake in Prudential Financial by 26.6% in the 1st quarter. Kowal Investment Group LLC now owns 6,906 shares of the financial services provider’s stock worth $811,000 after acquiring an additional 1,451 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Prudential Financial by 2.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 23,183 shares of the financial services provider’s stock valued at $2,722,000 after acquiring an additional 539 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Barclays started coverage on Prudential Financial in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 target price on the stock. Morgan Stanley lowered their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. Argus upgraded Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Finally, UBS Group lifted their target price on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $123.69.

Prudential Financial Stock Performance

Prudential Financial stock opened at $123.46 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a one year low of $87.95 and a one year high of $128.52. The stock’s 50 day moving average price is $120.20 and its 200 day moving average price is $117.80. The firm has a market capitalization of $44.08 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 0.96 and a beta of 1.30.

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

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is currently 66.84%.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were acquired at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the purchase, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by 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.