Providence Capital Advisors LLC Has $3.35 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

Providence Capital Advisors LLC raised its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 27,677 shares of the financial services provider’s stock after purchasing an additional 270 shares during the quarter. Providence Capital Advisors LLC’s holdings in Prudential Financial were worth $3,352,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Lynx Investment Advisory acquired a new stake in shares of Prudential Financial during the 2nd quarter worth approximately $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Prudential Financial during the 3rd quarter worth approximately $31,000. Strategic Financial Concepts LLC grew its position in shares of 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 worth $32,000 after buying an additional 25,027 shares during the period. Bank & Trust Co acquired a new stake in shares of Prudential Financial during the 2nd quarter worth approximately $37,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Prudential Financial during the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling

In related news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction dated Tuesday, September 3rd. The stock was 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 owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the acquisition, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $129.52 on Thursday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock’s fifty day simple moving average is $123.93 and its two-hundred day simple moving average is $119.96. Prudential Financial, Inc. has a 1-year low of $95.10 and a 1-year high of $130.55. The stock has a market cap of $46.11 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 0.91 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period in the previous year, the business posted $3.44 EPS. As a group, analysts forecast that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s payout ratio is 46.22%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PRU shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a research report on Wednesday, August 21st. TD Cowen lifted their price target on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday. Barclays lifted their price target on shares of Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Wells Fargo & Company lifted their price target on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Argus raised shares of Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Eleven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Prudential Financial presently has an average rating of “Hold” and a consensus price target of $125.92.

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.