Mutual Advisors LLC Reduces Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Mutual Advisors LLC decreased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,205 shares of the financial services provider’s stock after selling 359 shares during the period. Mutual Advisors LLC’s holdings in Prudential Financial were worth $2,909,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Creekmur Asset Management LLC increased its position in shares of Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 108 shares during the period. Lynx Investment Advisory bought a new stake in Prudential Financial during the 2nd quarter valued at $29,000. Strategic Financial Concepts LLC lifted its holdings in shares of Prudential Financial by 1,312.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after buying an additional 25,027 shares during the period. Crewe Advisors LLC purchased a new position in shares of Prudential Financial during the first quarter valued at $33,000. Finally, ESL Trust Services LLC bought a new stake in shares of Prudential Financial in the first quarter valued at about $34,000. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Trading Up 1.1 %

Shares of Prudential Financial stock opened at $126.66 on Thursday. Prudential Financial, Inc. has a 12-month low of $89.90 and a 12-month high of $128.52. The firm’s 50 day simple moving average is $120.88 and its two-hundred day simple moving average is $118.13. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $45.22 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 0.94 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The firm had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. Analysts predict that Prudential Financial, Inc. will post 13.3 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were given a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.11%. Prudential Financial’s dividend payout ratio is currently 66.84%.

Insider Buying and Selling

In other news, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the sale, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at $1,648,705.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Morgan Stanley cut their price objective on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Wells Fargo & Company upped their target price on Prudential Financial from $113.00 to $116.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Piper Sandler boosted their price target on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Bank of America raised their price objective on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $123.69.

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.