Centennial Wealth Advisory LLC Increases Position in Prudential Financial, Inc. $PRU

Centennial Wealth Advisory LLC lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 35.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,403 shares of the financial services provider’s stock after acquiring an additional 1,664 shares during the quarter. Centennial Wealth Advisory LLC’s holdings in Prudential Financial were worth $688,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. increased its position in shares of Prudential Financial by 90.2% during the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 111 shares during the last quarter. AlphaQuest LLC increased its holdings in Prudential Financial by 12,250.0% in the first quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after buying an additional 245 shares during the last quarter. North Capital Inc. bought a new stake in Prudential Financial in the first quarter valued at about $28,000. Cheviot Value Management LLC bought a new stake in Prudential Financial in the first quarter valued at about $26,000. Finally, Clearstead Trust LLC increased its holdings in Prudential Financial by 350.8% in the first quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock valued at $30,000 after buying an additional 207 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PRU shares. Wall Street Zen raised Prudential Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. boosted their price objective on Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Morgan Stanley lifted their target price on Prudential Financial from $113.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday, August 18th. Barclays lifted their target price on Prudential Financial from $119.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. Finally, Wells Fargo & Company decreased their target price on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 16th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and an average target price of $122.08.

Insider Buying and Selling

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the company’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $109.65, for a total value of $438,600.00. Following the transaction, the executive vice president owned 21,506 shares of the company’s stock, valued at approximately $2,358,132.90. This represents a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is currently owned by insiders.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $103.73 on Tuesday. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The company has a market cap of $36.51 billion, a PE ratio of 23.00, a P/E/G ratio of 0.92 and a beta of 1.07. The stock has a 50 day simple moving average of $105.32 and a 200-day simple moving average of $104.99. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, topping the consensus estimate of $3.22 by $0.36. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The firm had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.47 billion. During the same quarter in the previous year, the company earned $3.39 earnings per share. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities research analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 annualized dividend and a yield of 5.2%. Prudential Financial’s payout ratio is presently 119.73%.

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.