Benchmark Financial Wealth Advisors LLC Takes Position in Prudential Financial, Inc. (NYSE:PRU)

Benchmark Financial Wealth Advisors LLC acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,065 shares of the financial services provider’s stock, valued at approximately $250,000.

Several other large investors also recently made changes to their positions in PRU. Creekmur Asset Management LLC boosted its position in shares of Prudential Financial by 78.8% during the 1st 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 acquired a new position in shares of Prudential Financial in the second quarter worth about $29,000. Strategic Financial Concepts LLC boosted its holdings in shares of Prudential Financial by 1,312.4% in the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after buying an additional 25,027 shares during the period. Crewe Advisors LLC acquired a new position in shares of Prudential Financial in the first quarter worth about $33,000. Finally, ESL Trust Services LLC acquired a new position in shares of Prudential Financial in the first quarter worth about $34,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of Prudential Financial stock opened at $120.18 on Wednesday. The firm has a fifty day simple moving average of $121.20 and a 200-day simple moving average of $118.55. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 1-year low of $89.90 and a 1-year high of $128.52. The stock has a market capitalization of $42.78 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 0.86 and a beta of 1.29.

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

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.33%. Prudential Financial’s dividend payout ratio is presently 46.22%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PRU shares. Citigroup raised their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Barclays raised their price target on shares of Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Wells Fargo & Company raised their price target on shares of Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Tuesday. TD Cowen initiated coverage on shares of Prudential Financial in a research note on Wednesday, October 9th. They issued a “hold” rating and a $130.00 target price for the company. Finally, Argus upgraded shares of 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 given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and an average target price of $123.85.

Insider Activity

In other news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the sale, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

About Prudential Financial

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.