Kingswood Wealth Advisors LLC Purchases 924 Shares of Prudential Financial, Inc. (NYSE:PRU)

Kingswood Wealth Advisors LLC grew its holdings in Prudential Financial, Inc. (NYSE:PRU) by 24.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,745 shares of the financial services provider’s stock after acquiring an additional 924 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Prudential Financial were worth $556,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Peoples Bank OH boosted its holdings in Prudential Financial by 2.3% in the 1st quarter. Peoples Bank OH now owns 4,046 shares of the financial services provider’s stock valued at $475,000 after purchasing an additional 90 shares during the period. Sequoia Financial Advisors LLC grew its position in Prudential Financial by 1.3% during the first quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider’s stock worth $875,000 after buying an additional 94 shares in the last quarter. Jaffetilchin Investment Partners LLC increased its stake in Prudential Financial by 4.6% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 2,131 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 94 shares during the period. Bruce G. Allen Investments LLC raised its holdings in Prudential Financial by 38.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 352 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 98 shares in the last quarter. Finally, Checchi Capital Advisers LLC lifted its position in shares of Prudential Financial by 2.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 4,932 shares of the financial services provider’s stock valued at $579,000 after acquiring an additional 99 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Trading Down 0.3 %

Prudential Financial stock traded down $0.29 during trading hours on Wednesday, hitting $106.76. The stock had a trading volume of 1,802,670 shares, compared to its average volume of 1,502,298. The business’s 50 day simple moving average is $119.03 and its 200-day simple moving average is $114.25. Prudential Financial, Inc. has a one year low of $87.95 and a one year high of $128.52. The stock has a market cap of $38.33 billion, a price-to-earnings ratio of 18.56, a P/E/G ratio of 0.86 and a beta of 1.34. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.87%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was purchased at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the purchase, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Robert Falzon sold 130,092 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $118.57, for a total value of $15,425,008.44. Following the completion of the sale, the executive vice president now owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the stock in a transaction dated Thursday, June 20th. The shares were bought at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the transaction, the insider now directly owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

PRU has been the subject of several recent analyst reports. Citigroup upped their price objective on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Morgan Stanley upped their price target on shares of Prudential Financial from $120.00 to $123.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Evercore ISI lifted their price objective on shares of Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. upped their target price on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Finally, Keefe, Bruyette & Woods lifted their price target on Prudential Financial from $118.00 to $121.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $118.25.

Prudential Financial 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.