Prudential Financial, Inc. $PRU Shares Sold by Wambolt & Associates LLC

Wambolt & Associates LLC reduced its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 8.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,231 shares of the financial services provider’s stock after selling 1,844 shares during the period. Wambolt & Associates LLC’s holdings in Prudential Financial were worth $2,205,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PRU. Meeder Asset Management Inc. boosted its stake in Prudential Financial by 90.2% during the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock worth $26,000 after buying an additional 111 shares during the last quarter. AlphaQuest LLC boosted its position in shares of Prudential Financial by 12,250.0% during the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 245 shares during the last quarter. Cheviot Value Management LLC acquired a new position in shares of Prudential Financial during the 1st quarter valued at about $26,000. Clearstead Trust LLC grew its holdings in shares of Prudential Financial by 350.8% in the first quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 207 shares during the period. Finally, AlphaCore Capital LLC acquired a new stake in Prudential Financial during the second quarter worth about $39,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PRU shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Prudential Financial in a report on Wednesday, November 19th. Barclays decreased their target price on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Wall Street Zen raised Prudential Financial from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Morgan Stanley boosted 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. Finally, Evercore ISI raised their price objective on shares of Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $120.73.

Prudential Financial Stock Performance

NYSE:PRU opened at $108.34 on Wednesday. The firm has a market capitalization of $37.92 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 0.88 and a beta of 1.05. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. The business’s fifty day moving average price is $103.65 and its 200 day moving average price is $104.83. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. Prudential Financial had a return on equity of 16.98% and a net margin of 4.65%.The business had revenue of $8.35 billion during the quarter. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Tuesday, November 18th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Tuesday, November 18th. Prudential Financial’s payout ratio is currently 74.18%.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the company’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 completion of the transaction, the executive vice president owned 21,506 shares in the company, valued at $2,358,132.90. This 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 hyperlink. Also, Chairman Charles F. Lowrey sold 48,164 shares of Prudential Financial stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $107.39, for a total value of $5,172,331.96. Following the sale, the chairman owned 165,564 shares in the company, valued at $17,779,917.96. This trade represents a 22.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.25% of the company’s stock.

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.