Xcel Wealth Management LLC Has $2.86 Million Stock Holdings in Prudential Financial, Inc. $PRU

Xcel Wealth Management LLC boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 82.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,281 shares of the financial services provider’s stock after purchasing an additional 13,230 shares during the quarter. Xcel Wealth Management LLC’s holdings in Prudential Financial were worth $2,860,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sunflower Bank N.A. boosted its holdings in shares of Prudential Financial by 3.2% during the 4th quarter. Sunflower Bank N.A. now owns 2,911 shares of the financial services provider’s stock worth $329,000 after buying an additional 91 shares during the period. Wetzel Investment Advisors Inc. increased its stake in Prudential Financial by 0.9% during the 4th quarter. Wetzel Investment Advisors Inc. now owns 10,022 shares of the financial services provider’s stock worth $1,131,000 after acquiring an additional 94 shares during the period. CIBC Private Wealth Group LLC raised its stake in Prudential Financial by 0.3% in the third quarter. CIBC Private Wealth Group LLC now owns 28,795 shares of the financial services provider’s stock valued at $2,987,000 after purchasing an additional 97 shares in the last quarter. Transcend Capital Advisors LLC grew its stake in Prudential Financial by 2.4% during the fourth quarter. Transcend Capital Advisors LLC now owns 4,175 shares of the financial services provider’s stock worth $471,000 after buying an additional 98 shares in the last quarter. Finally, Mindset Wealth Management LLC increased its holdings in Prudential Financial by 2.1% in the 3rd quarter. Mindset Wealth Management LLC now owns 4,781 shares of the financial services provider’s stock valued at $496,000 after buying an additional 100 shares during the period. 56.83% of the stock is owned by institutional investors.

Prudential Financial Price Performance

PRU stock opened at $106.93 on Friday. The stock has a market cap of $37.10 billion, a price-to-earnings ratio of 11.00, a P/E/G ratio of 1.94 and a beta of 0.86. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The company has a 50 day simple moving average of $102.33 and a 200 day simple moving average of $104.25. Prudential Financial, Inc. has a 1 year low of $91.89 and a 1 year high of $119.76.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.52. The firm had revenue of $15.23 billion for the quarter, compared to analyst estimates of $14.10 billion. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. During the same quarter last year, the business posted $3.29 earnings per share. Research analysts anticipate that Prudential Financial, Inc. will post 13.78 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, May 26th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $5.60 annualized dividend and a dividend yield of 5.2%. Prudential Financial’s dividend payout ratio (DPR) is 57.61%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Mizuho upped their price target on shares of Prudential Financial from $96.00 to $101.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Jefferies Financial Group downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating and lowered their price objective for the company from $124.00 to $98.00 in a research report on Wednesday, April 22nd. Argus cut Prudential Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Evercore reiterated a “negative” rating on shares of Prudential Financial in a research note on Friday, March 6th. Finally, Barclays boosted their price target on Prudential Financial from $89.00 to $90.00 and gave the stock an “underweight” rating in a report on Wednesday, May 6th. Eleven analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial currently has a consensus rating of “Reduce” and an average price target of $101.92.

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.