Sound Income Strategies LLC Purchases 3,787 Shares of Prudential Financial, Inc. (NYSE:PRU)

Sound Income Strategies LLC grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 13.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 32,495 shares of the financial services provider’s stock after acquiring an additional 3,787 shares during the quarter. Sound Income Strategies LLC’s holdings in Prudential Financial were worth $3,852,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Grove Bank & Trust lifted its position in Prudential Financial by 65.9% during 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 purchased a new position in shares of Prudential Financial in the third quarter worth $31,000. Quarry LP grew its stake in shares of Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 222 shares during the period. Retirement Wealth Solutions LLC purchased a new stake in Prudential Financial during the 4th quarter valued at $37,000. Finally, Tompkins Financial Corp lifted its holdings in Prudential Financial by 61.7% in the third quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 140 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of Prudential Financial stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the transaction, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is currently owned by corporate insiders.

Prudential Financial Stock Performance

NYSE:PRU opened at $116.75 on Friday. The firm has a market cap of $41.56 billion, a PE ratio of 10.38, a P/E/G ratio of 1.09 and a beta of 1.31. The firm has a 50 day simple moving average of $121.68 and a 200-day simple moving average of $120.69. Prudential Financial, Inc. has a 1-year low of $100.60 and a 1-year high of $130.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The business had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period last year, the company posted $3.44 EPS. On average, equities analysts expect that Prudential Financial, Inc. will post 13.24 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s payout ratio is 46.22%.

Analyst Upgrades and Downgrades

PRU has been the subject of several recent research reports. Piper Sandler cut their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Barclays increased their price target on Prudential Financial from $127.00 to $128.00 and gave the company an “equal weight” rating in a research note on Thursday. Wells Fargo & Company decreased their target price on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Jefferies Financial Group boosted their price objective 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. Finally, Keefe, Bruyette & Woods cut their price objective on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $125.31.

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.