Envestnet Portfolio Solutions Inc. Sells 472 Shares of Prudential Financial, Inc. $PRU

Envestnet Portfolio Solutions Inc. lessened its stake in Prudential Financial, Inc. (NYSE:PRU) by 4.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,504 shares of the financial services provider’s stock after selling 472 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Prudential Financial were worth $1,021,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PRU. Meeder Asset Management Inc. raised 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 worth $26,000 after purchasing an additional 111 shares during the last quarter. Cheviot Value Management LLC bought a new position in Prudential Financial in the 1st quarter worth approximately $26,000. North Capital Inc. bought a new position in Prudential Financial in the 1st quarter worth approximately $28,000. AlphaQuest LLC raised its position in Prudential Financial by 12,250.0% in the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 245 shares during the last quarter. Finally, Clearstead Trust LLC raised its position in Prudential Financial by 350.8% in the 1st quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 207 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

PRU has been the subject of a number of analyst reports. Barclays lowered their target price on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Wells Fargo & Company lowered 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. Morgan Stanley lifted their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Wolfe Research initiated coverage on shares of Prudential Financial in a report on Tuesday, September 16th. They set a “peer perform” rating for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prudential Financial in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and an average target price of $122.27.

Insider Buying and Selling

In related news, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction 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 sale, the executive vice president directly owned 21,506 shares of the company’s stock, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU stock opened at $100.76 on Friday. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The firm has a market capitalization of $35.47 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 0.89 and a beta of 1.04. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. The firm has a fifty day moving average of $105.06 and a 200-day moving average of $104.11.

Prudential Financial (NYSE:PRU) last announced 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 during the quarter. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. On average, equities research analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business 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. This represents a $5.40 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Prudential Financial’s payout ratio is currently 119.73%.

Prudential Financial Company 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.