Avidian Wealth Enterprises LLC Buys 262 Shares of Prudential Financial, Inc. $PRU

Avidian Wealth Enterprises LLC raised its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 6,080 shares of the financial services provider’s stock after acquiring an additional 262 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Prudential Financial were worth $653,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. increased its stake in Prudential Financial by 2.7% in the 1st quarter. Invesco Ltd. now owns 4,440,003 shares of the financial services provider’s stock valued at $495,859,000 after buying an additional 116,079 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Prudential Financial by 19.2% in the first quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider’s stock worth $469,777,000 after purchasing an additional 678,028 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Prudential Financial by 5.6% in the 1st quarter. Ameriprise Financial Inc. now owns 1,801,551 shares of the financial services provider’s stock valued at $201,201,000 after purchasing an additional 95,021 shares during the period. Amundi increased its position in shares of Prudential Financial by 14.1% during the 1st quarter. Amundi now owns 1,751,633 shares of the financial services provider’s stock valued at $183,571,000 after purchasing an additional 216,119 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Prudential Financial by 49.2% during the 2nd quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock worth $184,192,000 after purchasing an additional 567,571 shares during the period. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Up 0.4%

Shares of PRU stock opened at $101.92 on Wednesday. The stock has a market capitalization of $35.87 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 0.90 and a beta of 1.04. The company’s fifty day simple moving average is $104.96 and its two-hundred day simple moving average is $104.12. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The company had revenue of $8.35 billion during the quarter. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%. As a group, analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were paid 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 5.3%. Prudential Financial’s payout ratio is currently 119.73%.

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the sale, the executive vice president directly owned 21,506 shares in the company, valued at $2,358,132.90. This represents a 15.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on PRU. Wall Street Zen upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Piper Sandler reduced their target price on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a research report on Wednesday, July 16th. Morgan Stanley lifted their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. increased 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. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Prudential Financial in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Prudential Financial has an average rating of “Hold” and an average price target of $122.27.

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.