Centennial Wealth Advisory LLC Purchases 259 Shares of Prudential Financial, Inc. (NYSE:PRU)

Centennial Wealth Advisory LLC boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 6.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,297 shares of the financial services provider’s stock after acquiring an additional 259 shares during the quarter. Centennial Wealth Advisory LLC’s holdings in Prudential Financial were worth $509,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PRU. Grove Bank & Trust raised its holdings in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 87 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Prudential Financial during the third quarter worth approximately $31,000. CGC Financial Services LLC lifted its holdings in Prudential Financial by 82.1% during the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 124 shares during the last quarter. Quarry LP grew its holdings in Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after buying an additional 222 shares in the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in Prudential Financial during the 4th quarter worth $37,000. Institutional investors own 56.83% of the company’s stock.

Insider Activity at Prudential Financial

In other Prudential Financial news, 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 purchased 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 of the company’s stock, valued at $133,465,780.56. The trade was a 12.66 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is currently owned by insiders.

Prudential Financial Price Performance

PRU stock opened at $113.90 on Thursday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 12 month low of $102.67 and a 12 month high of $130.55. The firm has a market cap of $40.55 billion, a P/E ratio of 10.12, a P/E/G ratio of 1.12 and a beta of 1.31. The company’s 50-day moving average price is $120.38 and its two-hundred day moving average price is $120.46.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. On average, analysts anticipate that Prudential Financial, Inc. will post 13.24 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.74%. Prudential Financial’s payout ratio is 46.22%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PRU. Jefferies Financial Group boosted their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods dropped their price objective on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research note on Thursday, January 16th. Piper Sandler dropped their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective for the company. Finally, Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price objective for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. 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 given a strong buy rating to the company. According to MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and a consensus target price of $125.77.

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.