Orion Portfolio Solutions LLC Buys 810 Shares of Prudential Financial, Inc. (NYSE:PRU)

Orion Portfolio Solutions LLC boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 14.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,267 shares of the financial services provider’s stock after purchasing an additional 810 shares during the period. Orion Portfolio Solutions LLC’s holdings in Prudential Financial were worth $659,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Lincoln National Corp increased its holdings in shares of Prudential Financial by 1.5% during the second quarter. Lincoln National Corp now owns 6,524 shares of the financial services provider’s stock worth $668,000 after buying an additional 96 shares in the last quarter. BDO Wealth Advisors LLC grew its holdings in Prudential Financial by 1.9% during the 2nd quarter. BDO Wealth Advisors LLC now owns 5,256 shares of the financial services provider’s stock worth $539,000 after acquiring an additional 98 shares during the period. Hexagon Capital Partners LLC grew its holdings in Prudential Financial by 4.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 2,198 shares of the financial services provider’s stock worth $225,000 after acquiring an additional 100 shares during the period. Compton Capital Management Inc. RI boosted its position in shares of Prudential Financial by 3.7% during the second quarter. Compton Capital Management Inc. RI now owns 2,800 shares of the financial services provider’s stock worth $287,000 after purchasing an additional 100 shares in the last quarter. Finally, Ballentine Partners LLC boosted its position in shares of Prudential Financial by 2.3% during the second quarter. Ballentine Partners LLC now owns 4,400 shares of the financial services provider’s stock worth $451,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 56.10% of the company’s stock.

In related news, SVP Timothy L. Schmidt sold 3,500 shares of Prudential Financial stock in a transaction on Tuesday, November 16th. The shares were sold at an average price of $112.26, for a total value of $392,910.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Charles F. Lowrey sold 93,894 shares of the business’s stock in a transaction on Tuesday, December 28th. The shares were sold at an average price of $110.00, for a total transaction of $10,328,340.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 151,401 shares of company stock valued at $16,824,041. 0.33% of the stock is currently owned by company insiders.

PRU opened at $117.40 on Friday. Prudential Financial, Inc. has a fifty-two week low of $77.27 and a fifty-two week high of $117.96. The company’s 50-day moving average is $108.66 and its 200 day moving average is $106.38. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.06 and a quick ratio of 0.06. The firm has a market capitalization of $44.38 billion, a P/E ratio of 6.41, a PEG ratio of 0.98 and a beta of 1.63.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, November 2nd. The financial services provider reported $3.78 earnings per share for the quarter, topping the consensus estimate of $2.68 by $1.10. The firm had revenue of $19.66 billion during the quarter, compared to the consensus estimate of $13.24 billion. Prudential Financial had a net margin of 11.82% and a return on equity of 9.33%. During the same quarter last year, the company earned $3.21 earnings per share. On average, equities research analysts expect that Prudential Financial, Inc. will post 14.03 earnings per share for the current year.

Prudential Financial declared that its Board of Directors has authorized a stock buyback program on Tuesday, November 9th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 3.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Thursday, December 16th. Shareholders of record on Tuesday, November 23rd were given a dividend of $1.15 per share. The ex-dividend date was Monday, November 22nd. This represents a $4.60 annualized dividend and a yield of 3.92%. Prudential Financial’s payout ratio is presently 25.12%.

Several equities research analysts recently commented on the stock. Barclays boosted their price objective on shares of Prudential Financial from $114.00 to $115.00 and gave the company an “equal weight” rating in a research report on Tuesday. Evercore ISI lowered shares of Prudential Financial from an “in-line” rating to an “underperform” rating and boosted their price objective for the stock from $101.00 to $105.00 in a research note on Wednesday, January 5th. JPMorgan Chase & Co. boosted their price objective on shares of Prudential Financial from $112.00 to $114.00 in a research note on Tuesday, January 4th. Morgan Stanley upped their price target on shares of Prudential Financial from $112.00 to $114.00 and gave the company an “equal weight” rating in a research note on Friday, January 7th. Finally, Wells Fargo & Company upped their price target on shares of Prudential Financial from $109.00 to $115.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $108.85.

About Prudential Financial

Prudential Financial, Inc engages in the provision of financial products and services including life insurance, annuities, mutual funds, and investment management to both individual and institutional customers. It operates through the following segments: PGIM, International Businesses, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, Closed Block, and Corporate and Others.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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