Avidian Wealth Solutions LLC Has $711,000 Holdings in Prudential Financial, Inc. (NYSE:PRU)

Avidian Wealth Solutions LLC increased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,853 shares of the financial services provider’s stock after buying an additional 132 shares during the period. Avidian Wealth Solutions LLC’s holdings in Prudential Financial were worth $711,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PRU. National Bank of Canada FI grew its position in shares of Prudential Financial by 1.5% in the 4th quarter. National Bank of Canada FI now owns 158,770 shares of the financial services provider’s stock valued at $16,598,000 after buying an additional 2,399 shares during the last quarter. TCG Advisory Services LLC acquired a new stake in Prudential Financial during the 4th quarter valued at approximately $6,121,000. First National Trust Co lifted its position in shares of Prudential Financial by 5.4% in the 4th quarter. First National Trust Co now owns 37,418 shares of the financial services provider’s stock worth $3,881,000 after purchasing an additional 1,904 shares during the period. W Advisors LLC bought a new stake in shares of Prudential Financial in the 4th quarter valued at $246,000. Finally, Merit Financial Group LLC increased its position in shares of Prudential Financial by 23.5% during the fourth quarter. Merit Financial Group LLC now owns 3,028 shares of the financial services provider’s stock worth $314,000 after buying an additional 576 shares during the period. 56.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Robert Axel sold 6,436 shares of Prudential Financial stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total transaction of $719,930.96. Following the sale, the senior vice president now directly owns 7,901 shares in the company, valued at approximately $883,805.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Prudential Financial news, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the sale, the executive vice president now owns 24,381 shares in the company, valued at $2,642,656.59. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Robert Axel sold 6,436 shares of Prudential Financial stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total value of $719,930.96. Following the completion of the transaction, the senior vice president now owns 7,901 shares of the company’s stock, valued at $883,805.86. The disclosure for this sale can be found here. Insiders have sold a total of 29,255 shares of company stock valued at $3,215,664 in the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on PRU. Keefe, Bruyette & Woods upped their price target on shares of Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Evercore ISI lifted their target price on Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a report on Thursday, April 25th. Piper Sandler cut their price target on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Monday. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. Finally, UBS Group raised their price target on shares of Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Two research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $111.08.

Prudential Financial Stock Up 2.5 %

PRU traded up $2.76 during midday trading on Monday, reaching $115.02. 592,372 shares of the company were exchanged, compared to its average volume of 1,511,536. The company has a market cap of $41.29 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 0.83 and a beta of 1.35. Prudential Financial, Inc. has a one year low of $77.87 and a one year high of $118.69. The company’s fifty day moving average price is $112.14 and its 200 day moving average price is $104.45. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The company had revenue of $15.01 billion during the quarter, compared to analysts’ expectations of $14.50 billion. During the same period in the previous year, the company posted $2.66 earnings per share. The company’s quarterly revenue was up 69.9% compared to the same quarter last year. As a group, analysts expect that Prudential Financial, Inc. will post 13.36 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Tuesday, February 20th were paid a $1.30 dividend. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.25. The ex-dividend date was Friday, February 16th. This represents a $5.20 annualized dividend and a yield of 4.52%. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

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.