Nwam LLC Invests $209,000 in Prudential Financial, Inc. (NYSE:PRU)

Nwam LLC purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,795 shares of the financial services provider’s stock, valued at approximately $209,000.

Several other hedge funds have also made changes to their positions in the business. Peoples Bank OH grew its position 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 buying an additional 90 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Prudential Financial by 1.3% in the first quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider’s stock valued at $875,000 after acquiring an additional 94 shares during the period. Bruce G. Allen Investments LLC lifted its holdings in Prudential Financial by 38.6% in the first 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 during the period. Checchi Capital Advisers LLC lifted its holdings in Prudential Financial by 2.0% in the first 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. Finally, First Financial Corp IN lifted its holdings in Prudential Financial by 13.7% in the fourth quarter. First Financial Corp IN now owns 848 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 102 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Price Performance

Prudential Financial stock traded down $1.54 during midday trading on Friday, reaching $123.76. 1,427,335 shares of the company were exchanged, compared to its average volume of 1,304,839. The company has a market capitalization of $44.43 billion, a price-to-earnings ratio of 21.05, a P/E/G ratio of 0.96 and a beta of 1.34. The firm’s 50-day simple moving average is $118.76 and its 200-day simple moving average is $112.69. Prudential Financial, Inc. has a 1 year low of $87.95 and a 1 year high of $128.52. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). The company had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The company’s revenue for the quarter was up 69.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.66 EPS. On average, analysts anticipate that Prudential Financial, Inc. will post 13.38 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend was Monday, May 20th. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the completion of the sale, the senior vice president now owns 12,236 shares in the company, valued at approximately $1,426,472.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was acquired at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the acquisition, 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 accessible through this link. Also, SVP Timothy L. Schmidt sold 5,189 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the sale, the senior vice president now owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Jefferies Financial Group reduced their target price on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a report on Friday, June 28th. Wells Fargo & Company raised their target price on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Piper Sandler reduced their target price on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a report on Monday, May 6th. JPMorgan Chase & Co. lifted their price target 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, Morgan Stanley lifted their price target on Prudential Financial from $120.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $116.67.

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.