Etesian Wealth Advisors Inc. Sells 726 Shares of Prudential Financial, Inc. (NYSE:PRU)

Etesian Wealth Advisors Inc. lowered its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 10.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,081 shares of the financial services provider’s stock after selling 726 shares during the quarter. Etesian Wealth Advisors Inc.’s holdings in Prudential Financial were worth $721,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Grove Bank & Trust raised its position in shares of Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Prudential Financial in the 3rd quarter valued at $31,000. CGC Financial Services LLC boosted its holdings in shares of Prudential Financial by 82.1% during the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 124 shares during the last quarter. Quarry LP grew its position in shares of Prudential Financial by 376.3% during the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 222 shares in the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Prudential Financial in the fourth quarter worth about $37,000. Institutional investors own 56.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on PRU shares. Barclays lifted their price objective on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Jefferies Financial Group upped their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. TD Cowen lifted their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Piper Sandler decreased their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and boosted their target price for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $125.77.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the stock in a transaction on Monday, November 25th. The stock was bought at an average price 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 legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

Prudential Financial Trading Down 3.4 %

Shares of PRU opened at $113.90 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a market capitalization of $40.55 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 1.12 and a beta of 1.31. The company has a 50-day moving average of $120.38 and a 200 day moving average of $120.46. Prudential Financial, Inc. has a 1-year low of $102.67 and a 1-year high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. On average, research analysts expect that Prudential Financial, Inc. will post 13.24 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.74%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s dividend payout ratio is presently 46.22%.

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.