Wealthfront Advisers LLC Lowers Stake in Prudential Financial, Inc. $PRU

Wealthfront Advisers LLC lowered its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,960 shares of the financial services provider’s stock after selling 2,049 shares during the quarter. Wealthfront Advisers LLC’s holdings in Prudential Financial were worth $9,773,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. New Hampshire Trust lifted its holdings in Prudential Financial by 5.3% during the second quarter. New Hampshire Trust now owns 4,261 shares of the financial services provider’s stock valued at $458,000 after purchasing an additional 216 shares in the last quarter. CVA Family Office LLC lifted its holdings in Prudential Financial by 11.0% during the second quarter. CVA Family Office LLC now owns 1,300 shares of the financial services provider’s stock valued at $140,000 after purchasing an additional 129 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs lifted its holdings in Prudential Financial by 5.4% during the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 14,694 shares of the financial services provider’s stock valued at $1,579,000 after purchasing an additional 747 shares in the last quarter. Richards Merrill & Peterson Inc. lifted its holdings in Prudential Financial by 8.1% during the second quarter. Richards Merrill & Peterson Inc. now owns 3,080 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 232 shares in the last quarter. Finally, AlphaQuest LLC lifted its holdings in Prudential Financial by 127.1% during the second quarter. AlphaQuest LLC now owns 561 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 314 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Up 0.5%

Shares of PRU opened at $102.23 on Monday. The company’s fifty day moving average is $104.68 and its 200 day moving average is $104.27. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The stock has a market capitalization of $35.99 billion, a PE ratio of 22.67, a P/E/G ratio of 0.89 and a beta of 1.04. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16.

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

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were given a dividend of $1.35 per share. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a yield of 5.3%. Prudential Financial’s payout ratio is 119.73%.

Insiders Place Their Bets

In other Prudential Financial 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 transaction of $438,600.00. Following the transaction, the executive vice president owned 21,506 shares in the company, valued at $2,358,132.90. The trade was 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 owned by company insiders.

Analysts Set New Price Targets

PRU has been the topic of several analyst reports. Wells Fargo & Company lowered their price target on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 16th. Piper Sandler lowered their target price on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a report on Wednesday, July 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Prudential Financial in a report on Saturday. Wall Street Zen raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Wolfe Research initiated coverage on shares of Prudential Financial in a report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. One research 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 data from MarketBeat, Prudential Financial has an average rating of “Hold” and a consensus price target of $122.27.

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.