Allen Mooney & Barnes Investment Advisors LLC Has $11.04 Million Position in Prudential Financial, Inc. (NYSE:PRU)

Allen Mooney & Barnes Investment Advisors LLC increased its position in Prudential Financial, Inc. (NYSE:PRU) by 2.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 98,819 shares of the financial services provider’s stock after buying an additional 2,295 shares during the quarter. Prudential Financial accounts for approximately 1.8% of Allen Mooney & Barnes Investment Advisors LLC’s investment portfolio, making the stock its 28th largest position. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Prudential Financial were worth $11,036,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Centricity Wealth Management LLC acquired a new position in Prudential Financial in the 4th quarter valued at approximately $29,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Prudential Financial in the fourth quarter worth $33,000. Hopwood Financial Services Inc. acquired a new stake in Prudential Financial in the fourth quarter valued at $34,000. Lee Danner & Bass Inc. bought a new position in Prudential Financial during the 4th quarter worth $35,000. Finally, TCTC Holdings LLC acquired a new position in Prudential Financial during the 4th quarter worth about $37,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Down 1.4%

PRU stock opened at $104.63 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The stock’s 50 day simple moving average is $102.69 and its 200 day simple moving average is $111.51. The company has a market cap of $37.04 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.11. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The company had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $14.76 billion. During the same period last year, the business earned $3.12 EPS. Prudential Financial’s quarterly revenue was down 38.2% compared to the same quarter last year. On average, research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date of this dividend is Tuesday, May 20th. Prudential Financial’s dividend payout ratio is currently 85.58%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PRU shares. Barclays decreased their price target on Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. Wall Street Zen lowered shares of Prudential Financial from a “hold” rating to a “sell” rating in a report on Sunday. Piper Sandler dropped their price target on shares of Prudential Financial from $110.00 to $109.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Prudential Financial from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods cut their price target on shares of Prudential Financial from $120.00 to $117.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $120.15.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were bought at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the acquisition, the insider now directly owns 139,987 shares of the company’s stock, valued at $3,992,429.24. This trade represents a 60.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by insiders.

Prudential Financial Company 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.