Mainstay Capital Management LLC ADV Buys 2,699 Shares of Prudential Financial, Inc. (NYSE:PRU)

Mainstay Capital Management LLC ADV boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 18.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,290 shares of the financial services provider’s stock after purchasing an additional 2,699 shares during the quarter. Prudential Financial comprises 0.3% of Mainstay Capital Management LLC ADV’s portfolio, making the stock its 19th largest holding. Mainstay Capital Management LLC ADV’s holdings in Prudential Financial were worth $1,793,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arlington Trust Co LLC grew its position in shares of Prudential Financial by 151.6% in the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 185 shares during the last quarter. Stratos Wealth Advisors LLC grew its holdings in Prudential Financial by 6.9% in the 4th quarter. Stratos Wealth Advisors LLC now owns 28,919 shares of the financial services provider’s stock valued at $2,999,000 after buying an additional 1,866 shares during the last quarter. Stratos Investment Management LLC increased its position in Prudential Financial by 9.9% in the 4th quarter. Stratos Investment Management LLC now owns 3,123 shares of the financial services provider’s stock worth $324,000 after buying an additional 282 shares during the period. Prime Capital Investment Advisors LLC lifted its holdings in shares of Prudential Financial by 41.6% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 10,612 shares of the financial services provider’s stock worth $1,101,000 after buying an additional 3,120 shares during the last quarter. Finally, Allworth Financial LP boosted its position in shares of Prudential Financial by 7.4% in the fourth quarter. Allworth Financial LP now owns 4,069 shares of the financial services provider’s stock valued at $422,000 after acquiring an additional 279 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Activity

In other news, EVP Ann M. Kappler sold 7,222 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total value of $782,792.58. Following the transaction, the executive vice president now owns 24,381 shares of the company’s stock, valued at approximately $2,642,656.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total value of $782,792.58. Following the transaction, the executive vice president now owns 24,381 shares of the company’s stock, valued at approximately $2,642,656.59. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Andrew F. Sullivan sold 7,685 shares of Prudential Financial stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total value of $857,415.45. Following the sale, the executive vice president now directly owns 13,691 shares of the company’s stock, valued at $1,527,504.87. The disclosure for this sale can be found here. Insiders have sold 29,255 shares of company stock valued at $3,215,664 over the last 90 days. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on PRU shares. UBS Group upped their target price on shares of Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Piper Sandler increased their target price on shares of Prudential Financial from $114.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. restated a “neutral” rating and set a $118.00 price target (down from $119.00) on shares of Prudential Financial in a research note on Wednesday, January 3rd. Raymond James downgraded Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. Finally, Morgan Stanley upped their target price on Prudential Financial from $105.00 to $109.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. Based on data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and a consensus target price of $108.10.

Prudential Financial Price Performance

Shares of NYSE:PRU traded down $0.18 during trading on Friday, reaching $115.71. The stock had a trading volume of 1,047,365 shares, compared to its average volume of 1,380,510. The stock has a market capitalization of $41.54 billion, a PE ratio of 17.30, a P/E/G ratio of 0.85 and a beta of 1.37. Prudential Financial, Inc. has a 52 week low of $77.22 and a 52 week high of $118.69. The business’s 50-day moving average price is $110.23 and its 200 day moving average price is $102.05. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.09). Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The company had revenue of $13.02 billion for the quarter, compared to analyst estimates of $12.99 billion. During the same quarter last year, the company earned $2.42 EPS. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. As a group, equities analysts predict that Prudential Financial, Inc. will post 13.44 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were paid a $1.30 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend was Friday, February 16th. Prudential Financial’s dividend payout ratio (DPR) is 77.73%.

Prudential Financial 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.