ICA Group Wealth Management LLC Takes Position in Prudential Financial, Inc. (NYSE:PRU)

ICA Group Wealth Management LLC purchased a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 498 shares of the financial services provider’s stock, valued at approximately $52,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Morgan Stanley lifted its holdings in shares of Prudential Financial by 0.9% during the 3rd quarter. Morgan Stanley now owns 6,317,338 shares of the financial services provider’s stock valued at $599,452,000 after purchasing an additional 57,531 shares in the last quarter. Northern Trust Corp lifted its position in Prudential Financial by 4.8% during the third quarter. Northern Trust Corp now owns 4,353,086 shares of the financial services provider’s stock worth $413,064,000 after acquiring an additional 197,422 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Prudential Financial by 10.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock worth $414,926,000 after acquiring an additional 388,363 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Prudential Financial by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,346,612 shares of the financial services provider’s stock valued at $243,367,000 after acquiring an additional 72,696 shares during the period. Finally, International Assets Investment Management LLC grew its position in Prudential Financial by 9,281.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock worth $141,962,000 after buying an additional 1,354,248 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total transaction of $782,792.58. Following the sale, the executive vice president now directly owns 24,381 shares of the company’s stock, valued at $2,642,656.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Andrew F. Sullivan sold 7,685 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 13,691 shares in the company, valued at $1,527,504.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the transaction, the executive vice president now directly owns 24,381 shares of the company’s stock, valued at approximately $2,642,656.59. The disclosure for this sale can be found here. Insiders sold a total of 29,255 shares of company stock valued at $3,215,664 in the last quarter. 0.34% of the stock is currently owned by company insiders.

Prudential Financial Trading Up 1.3 %

Shares of PRU traded up $1.44 during mid-day trading on Monday, reaching $111.94. 1,361,482 shares of the company’s stock traded hands, compared to its average volume of 1,502,906. The stock has a market cap of $40.19 billion, a P/E ratio of 16.73, a P/E/G ratio of 0.75 and a beta of 1.37. Prudential Financial, Inc. has a 12 month low of $77.22 and a 12 month high of $118.69. The stock’s 50-day moving average is $111.84 and its two-hundred day moving average is $103.99. 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 data 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). The business had revenue of $13.02 billion for the quarter, compared to analysts’ expectations of $12.99 billion. Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.42 earnings per share. Research analysts forecast that Prudential Financial, Inc. will post 13.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, February 16th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a yield of 4.65%. Prudential Financial’s payout ratio is currently 77.73%.

Analyst Ratings Changes

PRU has been the topic of several analyst reports. Evercore ISI increased their price target on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research report on Thursday. Piper Sandler upped their price target on shares of Prudential Financial from $114.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $118.00 price objective (down previously from $119.00) on shares of Prudential Financial in a research report on Wednesday, January 3rd. UBS Group upped their price target on Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Finally, Morgan Stanley raised their price objective on shares of Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $111.42.

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.