Good Life Advisors LLC Raises Position in Prudential Financial, Inc. $PRU

Good Life Advisors LLC lifted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 26.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,670 shares of the financial services provider’s stock after buying an additional 3,725 shares during the quarter. Good Life Advisors LLC’s holdings in Prudential Financial were worth $1,898,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PRU. Brighton Jones LLC grew its position in Prudential Financial by 3.7% in the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after acquiring an additional 133 shares in the last quarter. CWM LLC boosted its stake in shares of Prudential Financial by 8.8% in the first quarter. CWM LLC now owns 15,976 shares of the financial services provider’s stock valued at $1,784,000 after purchasing an additional 1,290 shares during the period. Edgestream Partners L.P. acquired a new stake in Prudential Financial during the 1st quarter valued at $2,753,000. Larson Financial Group LLC increased its stake in Prudential Financial by 98.7% during the 1st quarter. Larson Financial Group LLC now owns 2,362 shares of the financial services provider’s stock worth $264,000 after buying an additional 1,173 shares during the period. Finally, Welch & Forbes LLC boosted its position in Prudential Financial by 16.1% in the 1st quarter. Welch & Forbes LLC now owns 2,158 shares of the financial services provider’s stock valued at $241,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU opened at $107.75 on Friday. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. The firm has a market cap of $37.71 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 0.88 and a beta of 1.05. The stock has a 50 day moving average of $103.67 and a 200-day moving average of $104.66.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. Prudential Financial had a return on equity of 16.98% and a net margin of 4.65%.The firm had revenue of $8.35 billion for the quarter. As a group, analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Tuesday, November 18th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Tuesday, November 18th. Prudential Financial’s dividend payout ratio is currently 74.18%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PRU shares. Morgan Stanley lifted 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. Barclays lowered their price objective on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prudential Financial in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Evercore ISI lifted their price target on shares of Prudential Financial from $120.00 to $122.00 and gave the stock an “in-line” rating in a research note on Thursday, October 30th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $120.73.

Insider Activity

In other news, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the sale, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. This represents a 15.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles F. Lowrey sold 48,164 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $107.39, for a total value of $5,172,331.96. Following the transaction, the chairman owned 165,564 shares of the company’s stock, valued at $17,779,917.96. This represents a 22.54% decrease in their position. The SEC filing for this sale provides additional information. 0.25% of the stock is owned by corporate insiders.

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.