Transcend Capital Advisors LLC Has $408,000 Stock Holdings in Prudential Financial, Inc. $PRU

Transcend Capital Advisors LLC lessened its stake in Prudential Financial, Inc. (NYSE:PRU) by 6.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,801 shares of the financial services provider’s stock after selling 255 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Prudential Financial were worth $408,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its stake 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 buying an additional 111 shares during the period. Cheviot Value Management LLC acquired a new position in Prudential Financial in the 1st quarter valued at approximately $26,000. North Capital Inc. acquired a new position in Prudential Financial in the 1st quarter valued at approximately $28,000. AlphaQuest LLC increased its stake 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 buying an additional 245 shares during the period. Finally, Clearstead Trust LLC increased its stake in Prudential Financial by 350.8% in the 1st quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock valued at $30,000 after buying an additional 207 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Price Performance

NYSE PRU opened at $101.18 on Thursday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. The company has a fifty day simple moving average of $104.37 and a 200 day simple moving average of $104.29. The company has a market cap of $35.62 billion, a P/E ratio of 22.43, a P/E/G ratio of 0.89 and a beta of 1.04. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. The business 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, sell-side analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

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

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the 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 completion of the sale, the executive vice president directly owned 21,506 shares of the company’s stock, valued at $2,358,132.90. This represents a 15.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PRU has been the topic of several analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Prudential Financial in a research note on Wednesday, October 8th. Piper Sandler dropped their price target 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. Wolfe Research initiated coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. increased their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Finally, Morgan Stanley increased their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $122.27.

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.