TrueWealth Advisors LLC Raises Position in Prudential Financial, Inc. (NYSE:PRU)

TrueWealth Advisors LLC boosted its stake in Prudential Financial, Inc. (NYSE:PRU) by 22.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,160 shares of the financial services provider’s stock after buying an additional 763 shares during the period. TrueWealth Advisors LLC’s holdings in Prudential Financial were worth $504,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on PRU shares. Morgan Stanley dropped their price target on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Piper Sandler lifted their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Citigroup lifted their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Barclays lifted their target price on shares of Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research note on Friday. One investment 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. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $123.77.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the stock in a transaction dated Tuesday, October 8th. The stock was acquired at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the transaction, the insider now directly owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by insiders.

Prudential Financial Price Performance

PRU stock traded down $1.20 during mid-day trading on Friday, hitting $121.28. The company had a trading volume of 1,992,051 shares, compared to its average volume of 1,305,887. The company has a 50-day moving average price of $121.10 and a 200 day moving average price of $118.32. Prudential Financial, Inc. has a 12-month low of $89.90 and a 12-month high of $128.52. The company has a quick ratio of 0.13, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $43.30 billion, a price-to-earnings ratio of 10.78, a P/E/G ratio of 0.93 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same period in the previous year, the firm posted $3.44 EPS. On average, research analysts anticipate that Prudential Financial, Inc. will post 13.32 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were issued 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 yield of 4.29%. Prudential Financial’s payout ratio is 46.22%.

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.