Prudential Financial, Inc. $PRU Shares Purchased by Kiker Wealth Management LLC

Kiker Wealth Management LLC grew its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 3,490.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,853 shares of the financial services provider’s stock after acquiring an additional 5,690 shares during the period. Kiker Wealth Management LLC’s holdings in Prudential Financial were worth $607,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Darwin Wealth Management LLC purchased a new stake in shares of Prudential Financial during the second quarter valued at $36,000. AlphaCore Capital LLC purchased a new stake in Prudential Financial during the second quarter valued at about $39,000. Capital A Wealth Management LLC boosted its holdings in shares of Prudential Financial by 4,600.0% in the second quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock worth $39,000 after buying an additional 368 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in shares of Prudential Financial in the second quarter worth approximately $51,000. Finally, Crews Bank & Trust raised its holdings in shares of Prudential Financial by 36.4% during the second quarter. Crews Bank & Trust now owns 547 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 146 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Charles F. Lowrey sold 48,164 shares of Prudential Financial stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $107.39, for a total value of $5,172,331.96. Following the transaction, the chairman directly owned 165,564 shares in the company, valued at approximately $17,779,917.96. The trade was a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Caroline Feeney sold 6,555 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $116.28, for a total value of $762,215.40. Following the completion of the sale, the executive vice president directly owned 22,523 shares in the company, valued at $2,618,974.44. This trade represents a 22.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 62,719 shares of company stock valued at $6,796,067. 0.25% of the stock is owned by insiders.

Prudential Financial Stock Down 0.3%

PRU stock opened at $117.76 on Tuesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The firm has a market cap of $41.22 billion, a PE ratio of 16.18, a PEG ratio of 0.94 and a beta of 0.97. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $123.88. The company has a fifty day simple moving average of $111.27 and a 200 day simple moving average of $106.98.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The company had revenue of $8.35 billion for the quarter. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%. Sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, November 18th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.6%. The ex-dividend date was Tuesday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is 74.18%.

Analysts Set New Price Targets

A number of research firms recently commented on PRU. UBS Group raised their price objective on shares of Prudential Financial from $111.00 to $116.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. Morgan Stanley raised their target price on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods upped their price target on Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a research report on Monday, November 3rd. Wolfe Research began coverage on Prudential Financial in a research report on Tuesday, September 16th. They set a “peer perform” rating for the company. Finally, Barclays cut their target price on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Eleven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Prudential Financial has an average rating of “Reduce” and a consensus target price of $118.60.

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.