Pure Financial Advisors LLC Has $421,000 Stock Holdings in Prudential Financial, Inc. $PRU

Pure Financial Advisors LLC grew its holdings in Prudential Financial, Inc. (NYSE:PRU) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,915 shares of the financial services provider’s stock after purchasing an additional 144 shares during the quarter. Pure Financial Advisors LLC’s holdings in Prudential Financial were worth $421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Prudential Financial by 3.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,771 shares of the financial services provider’s stock valued at $2,320,000 after purchasing an additional 721 shares during the period. Acadian Asset Management LLC raised its stake in Prudential Financial by 3.0% during the 1st quarter. Acadian Asset Management LLC now owns 109,447 shares of the financial services provider’s stock worth $12,217,000 after buying an additional 3,183 shares during the period. Golden State Wealth Management LLC raised its stake in Prudential Financial by 728.4% during the 1st quarter. Golden State Wealth Management LLC now owns 845 shares of the financial services provider’s stock worth $94,000 after buying an additional 743 shares during the period. HighTower Advisors LLC raised its stake in Prudential Financial by 68.2% during the 1st quarter. HighTower Advisors LLC now owns 110,794 shares of the financial services provider’s stock worth $12,373,000 after buying an additional 44,937 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in Prudential Financial by 9.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,501 shares of the financial services provider’s stock worth $279,000 after buying an additional 222 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wolfe Research assumed coverage on Prudential Financial in a research note on Tuesday, September 16th. They set a “peer perform” rating on the stock. Wells Fargo & Company dropped their price target on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 16th. JPMorgan Chase & Co. upped their price target on Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Barclays upped their price target on Prudential Financial from $119.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Finally, Piper Sandler dropped their price target on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 16th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and an average target price of $122.08.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $104.01 on Friday. The company has a market cap of $36.61 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The business has a 50 day moving average price of $105.19 and a 200-day moving average price of $104.88. 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 (NYSE:PRU) last issued its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, topping the consensus estimate of $3.22 by $0.36. The firm had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.47 billion. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $3.39 earnings per share. Equities analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were issued a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 annualized dividend and a dividend yield of 5.2%. Prudential Financial’s dividend payout ratio is currently 119.73%.

Insider Activity

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

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.