Prudential Financial, Inc. $PRU Shares Sold by GPS Wealth Strategies Group LLC

GPS Wealth Strategies Group LLC lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 64.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,945 shares of the financial services provider’s stock after selling 5,336 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in Prudential Financial were worth $332,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PRU. Salomon & Ludwin LLC raised its stake in shares of Prudential Financial by 98.3% during the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 114 shares during the last quarter. Lodestone Wealth Management LLC purchased a new stake in shares of Prudential Financial during the fourth quarter worth approximately $28,000. Coston McIsaac & Partners raised its stake in shares of Prudential Financial by 93.4% during the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 128 shares during the last quarter. Wealth Watch Advisors INC purchased a new stake in shares of Prudential Financial during the third quarter worth approximately $30,000. Finally, Dunhill Financial LLC raised its stake in shares of Prudential Financial by 982.8% during the fourth quarter. Dunhill Financial LLC now owns 314 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 285 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Down 0.1%

Prudential Financial stock opened at $104.12 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market capitalization of $36.13 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 1.90 and a beta of 0.86. Prudential Financial, Inc. has a fifty-two week low of $91.89 and a fifty-two week high of $119.76. The stock’s fifty day moving average is $97.80 and its two-hundred day moving average is $104.58.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The business had revenue of $15.23 billion for the quarter, compared to analyst estimates of $14.10 billion. During the same quarter last year, the company earned $3.29 earnings per share. Analysts predict that Prudential Financial, Inc. will post 13.8 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Tuesday, May 26th. Prudential Financial’s dividend payout ratio (DPR) is presently 57.61%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Zacks Research cut Prudential Financial from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Weiss Ratings cut Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Barclays increased their price objective on Prudential Financial from $89.00 to $90.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 6th. Wells Fargo & Company increased their price objective on Prudential Financial from $93.00 to $100.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 12th. Finally, Piper Sandler increased their price objective on Prudential Financial from $99.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Nine investment analysts have rated the stock with a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $101.50.

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.