Etesian Wealth Advisors Inc. Sells 491 Shares of Prudential Financial, Inc. (NYSE:PRU)

Etesian Wealth Advisors Inc. decreased its stake in Prudential Financial, Inc. (NYSE:PRU) by 6.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,807 shares of the financial services provider’s stock after selling 491 shares during the period. Etesian Wealth Advisors Inc.’s holdings in Prudential Financial were worth $824,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PRU. Creekmur Asset Management LLC increased its position in Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 108 shares during the period. Lynx Investment Advisory acquired a new stake in shares of Prudential Financial during the second quarter worth $29,000. Strategic Financial Concepts LLC increased its position in shares of Prudential Financial by 1,312.4% during the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after buying an additional 25,027 shares during the period. Crewe Advisors LLC acquired a new stake in shares of Prudential Financial during the first quarter worth $33,000. Finally, ESL Trust Services LLC acquired a new stake in shares of Prudential Financial during the first quarter worth $34,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of PRU traded down $0.42 during trading hours on Friday, hitting $127.40. The company’s stock had a trading volume of 1,055,546 shares, compared to its average volume of 1,490,606. The company has a market cap of $45.74 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 0.98 and a beta of 1.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. The business has a 50 day simple moving average of $118.85 and a two-hundred day simple moving average of $117.49. Prudential Financial, Inc. has a 52-week low of $87.95 and a 52-week high of $128.52.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing the consensus estimate of $3.43 by ($0.04). The firm had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. On average, equities analysts expect that Prudential Financial, Inc. will post 13.29 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 annualized dividend and a yield of 4.08%. Prudential Financial’s payout ratio is presently 88.44%.

Insider Transactions at Prudential Financial

In other news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were purchased at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the transaction, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PRU. JPMorgan Chase & Co. raised their price target on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Bank of America raised their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. Wells Fargo & Company raised their price target on shares of Prudential Financial from $113.00 to $116.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, UBS Group raised their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $123.69.

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.