GPS Wealth Strategies Group LLC Cuts Position in Prudential Financial, Inc. $PRU

GPS Wealth Strategies Group LLC trimmed its position in Prudential Financial, Inc. (NYSE:PRU) by 64.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,945 shares of the financial services provider’s stock after selling 5,336 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in Prudential Financial were worth $332,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Salomon & Ludwin LLC raised its holdings in shares of Prudential Financial by 98.3% in the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 114 shares during the period. Lodestone Wealth Management LLC purchased a new position in shares of Prudential Financial in the 4th quarter worth about $28,000. Coston McIsaac & Partners raised its holdings in shares of Prudential Financial by 93.4% in the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 128 shares during the period. Wealth Watch Advisors INC purchased a new position in shares of Prudential Financial in the 3rd quarter worth about $30,000. Finally, Dunhill Financial LLC raised its holdings in shares of Prudential Financial by 982.8% in the 4th quarter. Dunhill Financial LLC now owns 314 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 285 shares during the period. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Price Performance

PRU stock opened at $104.12 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. Prudential Financial, Inc. has a 52-week low of $91.89 and a 52-week high of $119.76. The stock’s 50 day moving average is $97.80 and its two-hundred day moving average is $104.58. The company has a market capitalization of $36.13 billion, a PE ratio of 10.71, a P/E/G ratio of 1.90 and a beta of 0.86.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The company had revenue of $15.23 billion for the quarter, compared to the consensus estimate of $14.10 billion. During the same period in the previous year, the business earned $3.29 EPS. Analysts predict that Prudential Financial, Inc. will post 13.8 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Tuesday, May 26th. Prudential Financial’s payout ratio is 57.61%.

Analyst Ratings Changes

A number of equities analysts have recently commented on PRU shares. Evercore restated a “negative” rating on shares of Prudential Financial in a report on Friday, March 6th. UBS Group decreased their price target on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Mizuho boosted their target price on shares of Prudential Financial from $96.00 to $101.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Barclays boosted their target price on shares of Prudential Financial from $89.00 to $90.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 6th. Finally, Piper Sandler boosted their target price on shares of Prudential Financial from $99.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Nine analysts have rated the stock with a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $101.50.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.