Prudential Financial, Inc. $PRU Shares Sold by Equitable Trust Co.

Equitable Trust Co. lowered its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,040 shares of the financial services provider’s stock after selling 100 shares during the period. Equitable Trust Co.’s holdings in Prudential Financial were worth $1,294,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. increased its position in Prudential Financial by 90.2% in the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 111 shares during the period. Cheviot Value Management LLC purchased a new stake in Prudential Financial in the 1st quarter valued at approximately $26,000. North Capital Inc. purchased a new stake in Prudential Financial in the 1st quarter valued at approximately $28,000. AlphaQuest LLC boosted its holdings in Prudential Financial by 12,250.0% in the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 245 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Prudential Financial during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU stock opened at $103.68 on Wednesday. The firm has a market cap of $36.50 billion, a P/E ratio of 22.99, a P/E/G ratio of 0.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The firm has a fifty day moving average of $105.15 and a two-hundred day moving average of $104.33.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. The company had revenue of $8.35 billion for the quarter. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. As a group, research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

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

Wall Street Analyst Weigh In

PRU has been the subject of several recent research reports. Wolfe Research started coverage on shares of Prudential Financial in a report on Tuesday, September 16th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. increased their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Piper Sandler reduced their price objective on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 16th. Morgan Stanley upped their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Prudential Financial in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Prudential Financial currently has an average rating of “Hold” and an average target price of $122.27.

Insider Buying and Selling at Prudential Financial

In other news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the transaction, the executive vice president directly owned 21,506 shares of the company’s stock, valued at $2,358,132.90. This trade represents a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by company insiders.

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.