Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Ellsworth Advisors LLC

Ellsworth Advisors LLC increased its position in Prudential Financial, Inc. (NYSE:PRU) by 2.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 50,800 shares of the financial services provider’s stock after purchasing an additional 1,455 shares during the period. Prudential Financial accounts for about 1.6% of Ellsworth Advisors LLC’s holdings, making the stock its 15th biggest holding. Ellsworth Advisors LLC’s holdings in Prudential Financial were worth $6,152,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PRU. Creekmur Asset Management LLC lifted its holdings in shares of 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 purchasing an additional 108 shares during the last quarter. Lynx Investment Advisory purchased a new stake in shares of Prudential Financial in the 2nd quarter valued at about $29,000. Strategic Financial Concepts LLC raised its stake in Prudential Financial by 1,312.4% during the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 25,027 shares during the last quarter. Crewe Advisors LLC purchased a new stake in Prudential Financial during the 1st quarter valued at approximately $33,000. Finally, ESL Trust Services LLC purchased a new stake in Prudential Financial during the 1st quarter valued at approximately $34,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the sale, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the sale, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on PRU. Piper Sandler upped their price objective on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Morgan Stanley reduced their price objective on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. JPMorgan Chase & Co. upped their price objective on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Barclays started coverage on Prudential Financial in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price objective for the company. Finally, Argus upgraded Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and a consensus target price of $123.69.

Prudential Financial Stock Performance

PRU opened at $127.83 on Friday. The stock has a market cap of $45.89 billion, a P/E ratio of 21.74, a P/E/G ratio of 0.97 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 stock’s 50 day simple moving average is $118.49 and its 200 day simple moving average is $117.41. Prudential Financial, Inc. has a 1-year low of $87.95 and a 1-year high of $128.52.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. As a group, equities analysts anticipate that Prudential Financial, Inc. will post 13.28 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is currently 88.44%.

About Prudential Financial

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.