Prudential Financial, Inc. (NYSE:PRU) Stock Holdings Trimmed by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 18.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,469 shares of the financial services provider’s stock after selling 553 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Prudential Financial were worth $293,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Grove Bank & Trust raised its position in shares of Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its position in Prudential Financial by 1.2% in the third quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock worth $891,000 after purchasing an additional 89 shares during the period. Daymark Wealth Partners LLC boosted its stake in Prudential Financial by 3.9% during the 3rd quarter. Daymark Wealth Partners LLC now owns 2,616 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 97 shares in the last quarter. UMB Bank n.a. increased its position in shares of Prudential Financial by 2.7% during the 3rd quarter. UMB Bank n.a. now owns 3,660 shares of the financial services provider’s stock valued at $443,000 after purchasing an additional 97 shares during the period. Finally, Pure Financial Advisors LLC raised its stake in shares of Prudential Financial by 2.7% in the 3rd quarter. Pure Financial Advisors LLC now owns 3,748 shares of the financial services provider’s stock worth $454,000 after buying an additional 97 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Stock Performance

PRU stock opened at $116.75 on Friday. The stock has a market cap of $41.56 billion, a P/E ratio of 10.38, a P/E/G ratio of 1.11 and a beta of 1.31. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a 50 day simple moving average of $121.68 and a 200 day simple moving average of $120.69. Prudential Financial, Inc. has a 52 week low of $100.60 and a 52 week high of $130.55.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $14.57 billion. During the same period in the previous year, the company posted $3.44 EPS. Research analysts anticipate that Prudential Financial, Inc. will post 13.26 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PRU shares. Barclays lifted their target price on Prudential Financial from $127.00 to $128.00 and gave the stock an “equal weight” rating in a report on Thursday. Jefferies Financial Group boosted their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Piper Sandler decreased their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Wells Fargo & Company cut their price objective on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Finally, Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and boosted their target price for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $125.31.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the business’s stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the acquisition, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is owned by corporate insiders.

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.