Partners Wealth Management LLC Buys 12,412 Shares of Prudential Financial, Inc. $PRU

Partners Wealth Management LLC purchased a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) during the third quarter, Holdings Channel.com reports. The fund purchased 12,412 shares of the financial services provider’s stock, valued at approximately $1,410,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Soltis Investment Advisors LLC bought a new position in Prudential Financial during the third quarter worth about $672,000. Sterling Financial Planning Inc. bought a new stake in shares of Prudential Financial in the third quarter valued at approximately $209,000. North Dakota State Investment Board raised its position in shares of Prudential Financial by 2.3% in the third quarter. North Dakota State Investment Board now owns 10,656 shares of the financial services provider’s stock valued at $1,210,000 after purchasing an additional 243 shares during the period. Lynx Investment Advisory lifted its stake in shares of Prudential Financial by 204.5% during the 3rd quarter. Lynx Investment Advisory now owns 9,288 shares of the financial services provider’s stock valued at $1,055,000 after buying an additional 6,238 shares in the last quarter. Finally, William Mack & Associates Inc. purchased a new stake in shares of Prudential Financial during the 3rd quarter valued at approximately $46,000. Institutional investors own 56.83% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on PRU. Zacks Research downgraded shares of Prudential Financial from a “hold” rating to a “strong sell” rating in a report on Friday, October 23rd. JPMorgan Chase & Co. lowered their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, October 22nd. Deutsche Bank Aktiengesellschaft dropped their target price on Prudential Financial from $105.00 to $102.00 and set a “hold” rating on the stock in a research report on Friday, October 23rd. Mizuho set a $108.00 price target on Prudential Financial in a report on Monday, October 12th. Finally, Keefe, Bruyette & Woods reduced their price target on Prudential Financial from $123.00 to $119.00 and set a “market perform” rating for the company in a research report on Friday, October 16th. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $111.27.

Insiders Place Their Bets

In related news, EVP Ann Kappler sold 7,652 shares of the firm’s 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 sale, the executive vice president directly owned 14,407 shares of the company’s stock, valued at $1,801,019.07. This trade represents a 34.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.05% of the stock is owned by corporate insiders.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $116.35 on Friday. The stock’s 50-day simple moving average is $116.96 and its two-hundred day simple moving average is $108.79. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $127.72. The firm has a market capitalization of $40.14 billion, a P/E ratio of 10.54, a P/E/G ratio of 1.96 and a beta of 0.85. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.62.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.56. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.36 billion. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%. During the same quarter last year, the company posted $3.58 EPS. As a group, equities analysts anticipate that Prudential Financial, Inc. will post 13.52 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Tuesday, August 25th. Prudential Financial’s dividend payout ratio is 50.72%.

Prudential Financial Company Profile

Prudential Financial, Inc (NYSE: PRU) is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in Newark, New Jersey, in 1875, the company serves individuals, businesses and institutional investors through a range of businesses and distribution channels.

In the United States, Prudential offers life insurance, annuities, retirement plans and employee benefits, including group life, disability and dental insurance.