Western Wealth Management LLC Has $656,000 Stake in Prudential Financial, Inc. $PRU

Western Wealth Management LLC boosted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 22.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 6,104 shares of the financial services provider’s stock after acquiring an additional 1,132 shares during the quarter. Western Wealth Management LLC’s holdings in Prudential Financial were worth $656,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Rockefeller Capital Management L.P. grew its holdings in shares of Prudential Financial by 3.7% during the second quarter. Rockefeller Capital Management L.P. now owns 181,838 shares of the financial services provider’s stock valued at $19,537,000 after buying an additional 6,448 shares during the last quarter. Citizens Financial Group Inc. RI lifted its position in Prudential Financial by 30.3% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 3,067 shares of the financial services provider’s stock valued at $329,000 after acquiring an additional 714 shares in the last quarter. Avantax Advisory Services Inc. boosted its stake in Prudential Financial by 17.0% during the 2nd quarter. Avantax Advisory Services Inc. now owns 26,209 shares of the financial services provider’s stock valued at $2,816,000 after purchasing an additional 3,805 shares during the last quarter. Cetera Investment Advisers increased its holdings in Prudential Financial by 1.9% during the 2nd quarter. Cetera Investment Advisers now owns 192,858 shares of the financial services provider’s stock worth $20,721,000 after purchasing an additional 3,544 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Prudential Financial by 7.2% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 86,820 shares of the financial services provider’s stock worth $9,328,000 after purchasing an additional 5,865 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Down 3.4%

Prudential Financial stock opened at $103.47 on Tuesday. The firm has a 50 day moving average price of $103.65 and a 200-day moving average price of $104.71. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. The company has a market capitalization of $36.22 billion, a P/E ratio of 14.21, a P/E/G ratio of 0.88 and a beta of 1.05.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. Prudential Financial had a return on equity of 16.98% and a net margin of 4.65%.The business had revenue of $8.35 billion for the quarter. As a group, equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Tuesday, November 18th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $5.40 annualized dividend and a yield of 5.2%. Prudential Financial’s dividend payout ratio (DPR) is 74.18%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, Chairman Charles F. Lowrey sold 48,164 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the sale, the chairman directly owned 165,564 shares of the company’s stock, valued at $17,779,917.96. This represents a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the transaction, the executive vice president owned 21,506 shares of the company’s stock, valued at $2,358,132.90. This represents a 15.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PRU. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Prudential Financial in a research report on Thursday. Keefe, Bruyette & Woods lifted their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a report on Monday, November 3rd. Morgan Stanley upped their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Barclays dropped their price target on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Finally, Evercore ISI upped their price objective on shares of Prudential Financial from $120.00 to $122.00 and gave the stock an “in-line” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and a consensus price target of $120.73.

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.