Bogart Wealth LLC Has $275,000 Position in Prudential Financial, Inc. $PRU

Bogart Wealth LLC decreased its stake in Prudential Financial, Inc. (NYSE:PRU) by 97.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,812 shares of the financial services provider’s stock after selling 103,622 shares during the quarter. Bogart Wealth LLC’s holdings in Prudential Financial were worth $275,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PRU. VCI Wealth Management LLC lifted its holdings in shares of Prudential Financial by 117.1% during the 4th quarter. VCI Wealth Management LLC now owns 19,292 shares of the financial services provider’s stock valued at $2,178,000 after buying an additional 10,404 shares during the last quarter. KBC Group NV grew its position in Prudential Financial by 94.3% in the fourth quarter. KBC Group NV now owns 157,538 shares of the financial services provider’s stock worth $17,783,000 after acquiring an additional 76,461 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich grew its position in Prudential Financial by 2,669.0% in the fourth quarter. Munich Reinsurance Co Stock Corp in Munich now owns 46,990 shares of the financial services provider’s stock worth $5,342,000 after acquiring an additional 45,293 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Prudential Financial by 9.1% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 171,486 shares of the financial services provider’s stock worth $19,357,000 after purchasing an additional 14,327 shares during the last quarter. Finally, Murphy Middleton Hinkle & Parker Inc. raised its holdings in shares of Prudential Financial by 846.7% during the 4th quarter. Murphy Middleton Hinkle & Parker Inc. now owns 25,921 shares of the financial services provider’s stock valued at $2,926,000 after purchasing an additional 23,183 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Trading Up 1.2%

Prudential Financial stock opened at $114.28 on Tuesday. Prudential Financial, Inc. has a 52 week low of $91.89 and a 52 week high of $119.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market capitalization of $39.66 billion, a PE ratio of 11.76, a PEG ratio of 2.06 and a beta of 0.85. The business’s 50-day simple moving average is $103.68 and its 200-day simple moving average is $104.06.

Prudential Financial (NYSE:PRU) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same quarter in the prior year, the company earned $3.29 EPS. Equities research analysts forecast that Prudential Financial, Inc. will post 13.81 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Tuesday, May 26th. Prudential Financial’s dividend payout ratio is currently 57.61%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PRU. Piper Sandler boosted their price target on Prudential Financial from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Wells Fargo & Company increased their price objective on Prudential Financial from $93.00 to $100.00 and gave the company an “underweight” rating in a report on Tuesday, May 12th. Morgan Stanley restated an “underweight” rating and issued a $92.00 target price (down from $106.00) on shares of Prudential Financial in a report on Monday, May 4th. Keefe, Bruyette & Woods upped their target price on Prudential Financial from $100.00 to $106.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Finally, Bank of America lowered their price target on Prudential Financial from $112.00 to $104.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Eleven research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, Prudential Financial presently has a consensus rating of “Reduce” and a consensus target price of $101.92.

Prudential Financial Profile

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.