Prudential Financial, Inc. $PRU Shares Sold by Ameritas Advisory Services LLC

Ameritas Advisory Services LLC trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 22.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,093 shares of the financial services provider’s stock after selling 1,812 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Prudential Financial were worth $655,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PRU. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Prudential Financial by 9.5% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,836 shares of the financial services provider’s stock valued at $627,000 after buying an additional 508 shares in the last quarter. Abundance Wealth Counselors grew its holdings in shares of Prudential Financial by 4.8% in the second quarter. Abundance Wealth Counselors now owns 19,375 shares of the financial services provider’s stock valued at $2,082,000 after purchasing an additional 893 shares in the last quarter. Greenwood Capital Associates LLC boosted its position in Prudential Financial by 16.6% in the 2nd quarter. Greenwood Capital Associates LLC now owns 19,111 shares of the financial services provider’s stock valued at $2,053,000 after buying an additional 2,719 shares during the period. Crews Bank & Trust raised its stake in shares of Prudential Financial by 36.4% in the second quarter. Crews Bank & Trust now owns 547 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 146 shares in the last quarter. Finally, Hilltop National Bank acquired a new position in Prudential Financial during the 2nd quarter worth $1,199,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

Shares of PRU opened at $104.01 on Monday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The company has a 50-day simple moving average of $105.19 and a 200-day simple moving average of $104.79. The company has a market capitalization of $36.61 billion, a PE ratio of 23.06, a P/E/G ratio of 0.92 and a beta of 1.04.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.36. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The company had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.47 billion. During the same period in the prior year, the business posted $3.39 earnings per share. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities research analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were given a $1.35 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 annualized dividend and a dividend yield of 5.2%. Prudential Financial’s payout ratio is currently 119.73%.

Insider Buying and Selling

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the transaction, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. This trade represents a 15.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PRU. JPMorgan Chase & Co. boosted their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Barclays upped their target price on Prudential Financial from $119.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, July 17th. Morgan Stanley upped their price target on shares of Prudential Financial from $113.00 to $117.00 and gave the company an “equal weight” rating in a research report on Monday, August 18th. Wells Fargo & Company reduced their target price on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a report on Wednesday, July 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Prudential Financial in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Prudential Financial presently has a consensus rating of “Hold” and an average target price of $122.08.

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.