TrueWealth Advisors LLC Lowers Stock Position in Prudential Financial, Inc. $PRU

TrueWealth Advisors LLC lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 34.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,293 shares of the financial services provider’s stock after selling 1,753 shares during the quarter. TrueWealth Advisors LLC’s holdings in Prudential Financial were worth $354,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PRU. Meeder Asset Management Inc. raised its holdings in Prudential Financial by 90.2% in the first 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 in the last quarter. Cheviot Value Management LLC acquired a new position in shares of Prudential Financial in the 1st quarter valued at $26,000. North Capital Inc. acquired a new position in shares of Prudential Financial in the 1st quarter valued at $28,000. AlphaQuest LLC increased its holdings in shares of 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 acquiring an additional 245 shares during the period. Finally, Opal Wealth Advisors LLC purchased a new position in Prudential Financial in the 1st quarter valued at $30,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $106.94 on Monday. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. 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 $105.61 and its two-hundred day moving average price is $105.44. The firm has a market capitalization of $37.64 billion, a PE ratio of 23.71, a P/E/G ratio of 0.95 and a beta of 1.07.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.36. The company had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.47 billion. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the company earned $3.39 earnings per share. On average, research analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders 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 5.0%. The ex-dividend date was Tuesday, August 19th. Prudential Financial’s payout ratio is currently 119.73%.

Wall Street Analyst Weigh In

PRU has been the topic of several research analyst reports. Barclays boosted their target price on shares of Prudential Financial from $119.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Wall Street Zen upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. UBS Group reduced their target price on shares of Prudential Financial from $122.00 to $110.00 and set a “neutral” rating on the stock in a report on Tuesday, May 27th. Morgan Stanley upped their price objective on shares of Prudential Financial from $113.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday, August 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and a consensus target price of $122.08.

Insider Activity

In other news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the sale, the executive vice president directly owned 21,506 shares in the company, valued at $2,358,132.90. The trade was a 15.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is currently owned by corporate 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.