Optimum Investment Advisors Has $82,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Optimum Investment Advisors lessened its holdings in Prudential Financial, Inc. (NYSE:PRU) by 40.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 675 shares of the financial services provider’s stock after selling 450 shares during the quarter. Optimum Investment Advisors’ holdings in Prudential Financial were worth $82,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Creekmur Asset Management LLC lifted its holdings in Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after buying an additional 108 shares during the period. Lynx Investment Advisory acquired a new stake in shares of Prudential Financial during the 2nd quarter worth approximately $29,000. Crewe Advisors LLC bought a new stake in Prudential Financial in the first quarter valued at $33,000. ESL Trust Services LLC acquired a new position in Prudential Financial during the 1st quarter worth approximately $34,000. Finally, Riverview Trust Co acquired a new stake in Prudential Financial in the first quarter valued at approximately $37,000. 56.83% of the stock is owned by institutional investors.

Prudential Financial Trading Down 0.4 %

Prudential Financial stock opened at $127.37 on Friday. The stock has a market cap of $45.47 billion, a P/E ratio of 16.37, a PEG ratio of 0.98 and a beta of 1.30. Prudential Financial, Inc. has a fifty-two week low of $87.95 and a fifty-two week high of $128.52. The firm’s fifty day moving average price is $118.85 and its 200-day moving average price is $117.49. 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 (NYSE:PRU) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing the consensus estimate of $3.43 by ($0.04). The business had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. Equities research analysts forecast that Prudential Financial, Inc. will post 13.29 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.08%. Prudential Financial’s dividend payout ratio (DPR) is presently 66.84%.

Wall Street Analysts Forecast Growth

PRU has been the topic of a number of recent research reports. Piper Sandler raised their price objective on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group lowered their price target on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $113.00 to $116.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. boosted their price target on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Finally, Argus upgraded Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, eleven have assigned 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, Prudential Financial has a consensus rating of “Hold” and an average target price of $123.69.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was bought at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the acquisition, the insider now directly owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of Prudential Financial stock in a transaction dated Tuesday, October 8th. The shares were purchased at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate 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.