Avestar Capital LLC Has $268,000 Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Avestar Capital LLC grew its position in Prudential Financial, Inc. (NYSE:PRU) by 19.2% during the 3rd quarter, Holdings Channel reports. The firm owned 2,217 shares of the financial services provider’s stock after purchasing an additional 357 shares during the quarter. Avestar Capital LLC’s holdings in Prudential Financial were worth $268,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PRU. Price T Rowe Associates Inc. MD boosted its stake in shares of Prudential Financial by 0.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 498,247 shares of the financial services provider’s stock valued at $58,495,000 after purchasing an additional 2,001 shares in the last quarter. Bayesian Capital Management LP bought a new stake in Prudential Financial during the 1st quarter worth about $247,000. Janus Henderson Group PLC grew its holdings in Prudential Financial by 49.5% during the 1st quarter. Janus Henderson Group PLC now owns 80,148 shares of the financial services provider’s stock worth $9,409,000 after acquiring an additional 26,520 shares during the last quarter. Tidal Investments LLC grew its holdings in Prudential Financial by 35.5% during the 1st quarter. Tidal Investments LLC now owns 19,524 shares of the financial services provider’s stock worth $2,292,000 after acquiring an additional 5,111 shares during the last quarter. Finally, Comerica Bank grew its holdings in Prudential Financial by 28.2% during the 1st quarter. Comerica Bank now owns 100,035 shares of the financial services provider’s stock worth $11,744,000 after acquiring an additional 22,017 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of Prudential Financial stock in a transaction dated Tuesday, October 8th. The shares were bought at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the acquisition, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This trade represents a 6.61 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. The trade was a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Argus raised shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Piper Sandler raised their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Bank of America raised their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised their target price on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Finally, TD Cowen raised their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday. Eleven research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $125.92.

Prudential Financial Stock Up 0.3 %

PRU stock opened at $129.52 on Thursday. The company has a market cap of $46.11 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 0.91 and a beta of 1.29. The business has a 50-day simple moving average of $123.93 and a 200 day simple moving average of $119.96. Prudential Financial, Inc. has a 52 week low of $95.10 and a 52 week high of $130.55. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The business had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the previous year, the firm earned $3.44 earnings per share. Sell-side analysts anticipate that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is currently 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.