Wealth Enhancement Advisory Services LLC Has $11.83 Million Stock Holdings in Prudential Financial, Inc. $PRU

Wealth Enhancement Advisory Services LLC boosted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 21.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,492 shares of the financial services provider’s stock after buying an additional 17,849 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Prudential Financial were worth $11,826,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Wealth Watch Advisors INC bought a new stake in Prudential Financial in the 3rd quarter valued at $30,000. Chilton Capital Management LLC grew its position in Prudential Financial by 146.5% during the third quarter. Chilton Capital Management LLC now owns 350 shares of the financial services provider’s stock worth $36,000 after buying an additional 208 shares in the last quarter. Darwin Wealth Management LLC bought a new position in Prudential Financial during the second quarter valued at about $36,000. AlphaCore Capital LLC bought a new stake in shares of Prudential Financial in the 2nd quarter worth approximately $39,000. Finally, Capital A Wealth Management LLC grew its holdings in shares of Prudential Financial by 4,600.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 368 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Jacques Chappuis acquired 1,000 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were purchased at an average price of $100.97 per share, with a total value of $100,970.00. Following the acquisition, the executive vice president directly owned 1,000 shares in the company, valued at $100,970. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 1,406,739 shares of the stock in a transaction on Friday, January 23rd. The stock was bought at an average price of $24.87 per share, with a total value of $34,985,598.93. Following the transaction, the insider directly owned 7,709,624 shares in the company, valued at approximately $191,738,348.88. This represents a 22.32% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 1,408,389 shares of company stock worth $35,154,439 over the last ninety days. Company insiders own 0.25% of the company’s stock.

Prudential Financial Trading Down 0.1%

Shares of PRU stock opened at $95.15 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $33.11 billion, a P/E ratio of 9.52, a P/E/G ratio of 1.17 and a beta of 0.98. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $119.76. The firm has a 50-day moving average price of $101.53 and a 200 day moving average price of $105.68.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.07). The firm had revenue of $14.52 billion during the quarter, compared to the consensus estimate of $14.48 billion. Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. During the same quarter last year, the firm posted $2.96 EPS. Research analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Tuesday, February 17th were paid a $1.40 dividend. This is an increase from Prudential Financial’s previous quarterly dividend of $1.35. This represents a $5.60 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend was Tuesday, February 17th. Prudential Financial’s payout ratio is presently 56.00%.

Analyst Ratings Changes

A number of research analysts recently commented on PRU shares. Evercore restated a “negative” rating on shares of Prudential Financial in a research note on Friday, March 6th. Barclays lowered their price target on shares of Prudential Financial from $124.00 to $119.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 11th. Keefe, Bruyette & Woods initiated coverage on shares of Prudential Financial in a report on Thursday. They set a “market perform” rating and a $106.00 price objective for the company. Morgan Stanley dropped their price target on shares of Prudential Financial from $120.00 to $111.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 3rd. Finally, Mizuho cut their price target on shares of Prudential Financial from $126.00 to $113.00 and set a “neutral” rating for the company in a research note on Tuesday, February 10th. Nine equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $113.89.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.