SteelPeak Wealth LLC Acquires Shares of 8,051 Prudential Financial, Inc. $PRU

SteelPeak Wealth LLC bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,051 shares of the financial services provider’s stock, valued at approximately $787,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PRU. Sunflower Bank N.A. grew its position 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 purchasing an additional 91 shares in the last quarter. Wetzel Investment Advisors Inc. raised its holdings in Prudential Financial by 0.9% in the 4th quarter. Wetzel Investment Advisors Inc. now owns 10,022 shares of the financial services provider’s stock valued at $1,131,000 after acquiring an additional 94 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Prudential Financial by 0.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 28,795 shares of the financial services provider’s stock valued at $2,987,000 after acquiring an additional 97 shares during the period. Transcend Capital Advisors LLC increased its position in shares of Prudential Financial by 2.4% in the fourth quarter. Transcend Capital Advisors LLC now owns 4,175 shares of the financial services provider’s stock worth $471,000 after purchasing an additional 98 shares during the period. Finally, Rossby Financial LCC raised its stake in Prudential Financial by 32.4% in the fourth quarter. Rossby Financial LCC now owns 421 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 103 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on PRU shares. Bank of America decreased their target price on shares of Prudential Financial from $112.00 to $104.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Zacks Research upgraded shares of Prudential Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, June 12th. Jefferies Financial Group raised their target price on Prudential Financial from $105.00 to $110.00 and gave the company a “hold” rating in a report on Friday, July 10th. Wells Fargo & Company lifted their target price on Prudential Financial from $100.00 to $103.00 and gave the company an “underweight” rating in a research report on Thursday, July 9th. Finally, BMO Capital Markets dropped their target price on shares of Prudential Financial from $91.00 to $87.00 and set an “underperform” rating for the company in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, Prudential Financial currently has a consensus rating of “Reduce” and a consensus target price of $104.58.

Prudential Financial Trading Up 0.7%

NYSE PRU opened at $119.05 on Friday. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $120.53. The business’s fifty day moving average is $107.27 and its 200 day moving average is $104.17. 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 cap of $41.31 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 2.44 and a beta of 0.85.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, beating the consensus estimate of $3.09 by $0.52. The firm had revenue of $15.23 billion during the quarter, compared to the consensus estimate of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same period last year, the company earned $3.29 earnings per share. As a group, sell-side analysts expect that Prudential Financial, Inc. will post 13.79 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Tuesday, May 26th. Prudential Financial’s payout ratio is presently 57.61%.

Prudential Financial Company Profile

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.