Atlas Private Wealth Advisors Takes Position in Prudential Financial, Inc. (NYSE:PRU)

Atlas Private Wealth Advisors acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRUFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,986 shares of the financial services provider’s stock, valued at approximately $206,000.

Several other institutional investors have also modified their holdings of the business. Moneta Group Investment Advisors LLC raised its position in Prudential Financial by 104,987.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,450,633 shares of the financial services provider’s stock valued at $243,740,000 after buying an additional 2,448,301 shares during the last quarter. Norges Bank acquired a new stake in Prudential Financial in the 4th quarter valued at approximately $172,363,000. Cowa LLC raised its position in Prudential Financial by 9,930.2% in the 1st quarter. Cowa LLC now owns 771,824 shares of the financial services provider’s stock valued at $912,000 after buying an additional 764,129 shares during the last quarter. Mariner LLC raised its position in Prudential Financial by 2,197.4% in the 1st quarter. Mariner LLC now owns 690,184 shares of the financial services provider’s stock valued at $81,560,000 after buying an additional 660,142 shares during the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new position in shares of Prudential Financial during the 2nd quarter worth approximately $48,716,000. Institutional investors own 54.92% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Pgim Strategic Investments, In bought 1,191,895 shares of the stock in a transaction on Tuesday, January 2nd. The stock was acquired at an average price of $25.17 per share, with a total value of $29,999,997.15. Following the acquisition, the insider now directly owns 4,056,632 shares in the company, valued at $102,105,427.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder Pgim Strategic Investments, In purchased 1,191,895 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was bought at an average price of $25.17 per share, with a total value of $29,999,997.15. Following the completion of the purchase, the insider now owns 4,056,632 shares in the company, valued at approximately $102,105,427.44. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Robert Axel sold 6,436 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the transaction, the senior vice president now owns 7,901 shares of the company’s stock, valued at $883,805.86. The disclosure for this sale can be found here. Insiders sold a total of 29,255 shares of company stock valued at $3,215,664 in the last 90 days. Corporate insiders own 0.37% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU stock traded up $0.58 on Tuesday, hitting $113.66. 98,915 shares of the company’s stock were exchanged, compared to its average volume of 1,584,934. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial, Inc. has a 12 month low of $75.37 and a 12 month high of $114.18. The stock has a market cap of $40.80 billion, a P/E ratio of 16.99, a price-to-earnings-growth ratio of 0.82 and a beta of 1.36. The company has a 50 day moving average of $106.79 and a 200 day moving average of $100.19.

Prudential Financial (NYSE:PRUGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.09). Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The business had revenue of $13.02 billion for the quarter, compared to the consensus estimate of $12.99 billion. During the same quarter in the prior year, the company earned $2.42 earnings per share. Prudential Financial’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities research analysts predict that Prudential Financial, Inc. will post 13.42 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Tuesday, February 20th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend was Friday, February 16th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. Prudential Financial’s dividend payout ratio is presently 77.73%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PRU shares. Raymond James lowered Prudential Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, February 9th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $118.00 target price (down from $119.00) on shares of Prudential Financial in a report on Wednesday, January 3rd. UBS Group boosted their target price on Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. TheStreet raised Prudential Financial from a “c+” rating to an “a-” rating in a report on Tuesday, February 6th. Finally, Morgan Stanley boosted their target price on Prudential Financial from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating and ten have given a hold rating to the stock. According to data from MarketBeat, Prudential Financial currently has an average rating of “Hold” and a consensus price target of $105.60.

Read Our Latest Report on PRU

Prudential Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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