Leo Wealth LLC Makes New Investment in Prudential Financial, Inc. $PRU

Leo Wealth LLC bought a new position in Prudential Financial, Inc. (NYSE:PRU) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,497 shares of the financial services provider’s stock, valued at approximately $852,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PRU. Archer Investment Corp purchased a new position in shares of Prudential Financial during the second quarter valued at $26,000. SJS Investment Consulting Inc. lifted its holdings in shares of Prudential Financial by 93.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 134 shares during the last quarter. EFG International AG boosted its holdings in Prudential Financial by 452.2% in the second quarter. EFG International AG now owns 381 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 312 shares in the last quarter. Reyes Financial Architecture Inc. purchased a new stake in Prudential Financial during the 3rd quarter worth approximately $41,000. Finally, Wellington Shields Capital Management LLC acquired a new position in shares of Prudential Financial in the 2nd quarter valued at $43,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Ann Kappler sold 7,652 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $125.01, for a total value of $956,576.52. Following the completion of the transaction, the executive vice president owned 14,407 shares of the company’s stock, valued at approximately $1,801,019.07. This trade represents a 34.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on PRU shares. Jefferies Financial Group decreased their target price on shares of Prudential Financial from $116.00 to $109.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Mizuho set a $108.00 target price on shares of Prudential Financial in a research note on Monday, October 12th. Morgan Stanley lowered their price target on shares of Prudential Financial from $105.00 to $100.00 and set an “underweight” rating on the stock in a report on Monday, October 19th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Prudential Financial from $105.00 to $102.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Wall Street Zen cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Monday, September 28th. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, Prudential Financial has a consensus rating of “Reduce” and a consensus target price of $111.33.

Prudential Financial Price Performance

PRU stock opened at $115.79 on Tuesday. The stock has a market cap of $39.95 billion, a price-to-earnings ratio of 7.54, a price-to-earnings-growth ratio of 1.84 and a beta of 0.85. Prudential Financial, Inc. has a 52-week low of $91.89 and a 52-week high of $127.72. The business has a fifty day moving average of $117.71 and a two-hundred day moving average of $108.84. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.62.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.52 by $0.56. The company had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.36 billion. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. During the same quarter in the prior year, the company posted $3.58 earnings per share. As a group, research analysts anticipate that Prudential Financial, Inc. will post 13.53 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $5.60 annualized dividend and a yield of 4.8%. Prudential Financial’s dividend payout ratio is presently 50.72%.

Prudential Financial Profile

Prudential Financial, Inc (NYSE: PRU) is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in Newark, New Jersey, in 1875, the company serves individuals, businesses and institutional investors through a range of businesses and distribution channels.

In the United States, Prudential offers life insurance, annuities, retirement plans and employee benefits, including group life, disability and dental insurance.