Stratos Wealth Advisors LLC Has $266,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Stratos Wealth Advisors LLC lessened its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,198 shares of the financial services provider’s stock after selling 178 shares during the period. Stratos Wealth Advisors LLC’s holdings in Prudential Financial were worth $266,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Creekmur Asset Management LLC boosted its position in shares of Prudential Financial by 78.8% in the first 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 period. Lynx Investment Advisory bought a new position in shares of Prudential Financial during the 2nd quarter worth about $29,000. Crewe Advisors LLC acquired a new position in shares of Prudential Financial during the first quarter valued at about $33,000. ESL Trust Services LLC acquired a new stake in Prudential Financial during the first quarter worth about $34,000. Finally, Riverview Trust Co bought a new position in Prudential Financial during the first quarter valued at about $37,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU stock opened at $125.63 on Wednesday. Prudential Financial, Inc. has a 52 week low of $87.95 and a 52 week high of $128.52. The stock has a market capitalization of $44.85 billion, a PE ratio of 16.15, a PEG ratio of 0.97 and a beta of 1.30. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The stock’s fifty day moving average is $119.51 and its 200-day moving average is $117.64.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data 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 analyst estimates of $13.78 billion. Equities research analysts expect that Prudential Financial, Inc. will post 13.3 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is 66.84%.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential purchased 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, with a total value of $7,200,007.22. Following the completion of the purchase, the insider now directly owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was purchased at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the acquisition, the insider now owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial 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 owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. Wells Fargo & Company raised 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. Citigroup upped their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group cut their price target on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $123.69.

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.