Kingsview Wealth Management LLC Invests $1.67 Million in Prudential Financial, Inc. $PRU

Kingsview Wealth Management LLC acquired a new stake in Prudential Financial, Inc. (NYSE:PRU) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,499 shares of the financial services provider’s stock, valued at approximately $1,673,000.

Other large investors have also recently added to or reduced their stakes in the company. Keating Financial Advisory Services Inc. boosted its position in Prudential Financial by 34.8% in the 2nd quarter. Keating Financial Advisory Services Inc. now owns 395 shares of the financial services provider’s stock valued at $43,000 after buying an additional 102 shares during the period. Rossby Financial LCC lifted 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 worth $48,000 after acquiring an additional 103 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in Prudential Financial by 5.6% during the 4th quarter. TD Private Client Wealth LLC now owns 1,972 shares of the financial services provider’s stock worth $223,000 after acquiring an additional 104 shares in the last quarter. Western Wealth Management LLC increased its position in shares of Prudential Financial by 1.7% in the 4th quarter. Western Wealth Management LLC now owns 6,215 shares of the financial services provider’s stock valued at $702,000 after purchasing an additional 105 shares during the last quarter. Finally, Apella Capital LLC raised its holdings in shares of Prudential Financial by 3.7% in the 1st quarter. Apella Capital LLC now owns 2,979 shares of the financial services provider’s stock valued at $303,000 after purchasing an additional 106 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total value of $5,314,963.50. Following the completion of the sale, the insider owned 7,973,657 shares in the company, valued at $197,348,010.75. This trade represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ann M. Kappler sold 7,652 shares of Prudential Financial stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $125.01, for a total value of $956,576.52. Following the completion of the sale, the executive vice president directly owned 14,407 shares in the company, valued at $1,801,019.07. This represents a 34.69% decrease in their position. The SEC filing for this sale provides additional information. 0.05% of the stock is owned by company insiders.

Prudential Financial Price Performance

Prudential Financial stock opened at $119.80 on Friday. The business has a 50 day simple moving average of $117.95 and a 200-day simple moving average of $106.27. Prudential Financial, Inc. has a 12 month low of $91.89 and a 12 month high of $127.72. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market capitalization of $41.33 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 2.25 and a beta of 0.84.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.56. The company had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.36 billion. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. During the same period in the previous year, the company posted $3.58 EPS. Equities analysts predict that Prudential Financial, Inc. will post 14.51 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, August 25th. Prudential Financial’s dividend payout ratio is currently 50.72%.

Analyst Ratings Changes

A number of research firms have weighed in on PRU. Wall Street Zen upgraded Prudential Financial from a “hold” rating to a “buy” rating in a research note on Saturday. Keefe, Bruyette & Woods increased their price objective on Prudential Financial from $113.00 to $123.00 and gave the company a “market perform” rating in a report on Tuesday, August 11th. Jefferies Financial Group raised their target price on Prudential Financial from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Barclays upped their price target on Prudential Financial from $90.00 to $92.00 and gave the company an “underweight” rating in a report on Tuesday, July 7th. Finally, Zacks Research upgraded shares of Prudential Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, June 12th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Prudential Financial presently has an average rating of “Reduce” and a consensus price target of $109.31.

Prudential Financial 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.