Xcel Wealth Management LLC Acquires 13,230 Shares of Prudential Financial, Inc. $PRU

Xcel Wealth Management LLC increased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 82.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 29,281 shares of the financial services provider’s stock after purchasing an additional 13,230 shares during the period. Xcel Wealth Management LLC’s holdings in Prudential Financial were worth $2,860,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PRU. Jessup Wealth Management Inc acquired a new position in Prudential Financial during the 4th quarter worth about $25,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Prudential Financial in the fourth quarter worth approximately $26,000. Salomon & Ludwin LLC lifted its stake in shares of Prudential Financial by 98.3% in the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 114 shares during the period. Lodestone Wealth Management LLC acquired a new stake in Prudential Financial during the 4th quarter valued at approximately $28,000. Finally, Coston McIsaac & Partners raised its holdings in Prudential Financial by 93.4% during 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 last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PRU. Argus lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Tuesday, June 9th. UBS Group dropped their price objective on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Evercore restated a “negative” rating on shares of Prudential Financial in a research report on Friday, March 6th. Piper Sandler raised their target price on Prudential Financial from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Mizuho boosted their price target on Prudential Financial from $96.00 to $101.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Eleven research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $101.92.

Prudential Financial Trading Up 0.6%

NYSE:PRU opened at $106.93 on Friday. Prudential Financial, Inc. has a 12 month low of $91.89 and a 12 month high of $119.76. 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 stock has a market capitalization of $37.10 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 1.94 and a beta of 0.86. The firm has a fifty day simple moving average of $102.33 and a two-hundred day simple moving average of $104.25.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.52. The firm had revenue of $15.23 billion for the quarter, compared to analyst estimates of $14.10 billion. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. During the same quarter in the prior year, the business earned $3.29 earnings per share. Analysts expect that Prudential Financial, Inc. will post 13.78 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, May 26th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Tuesday, May 26th. Prudential Financial’s dividend payout ratio is 57.61%.

About Prudential Financial

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.