Paragon Capital Management Ltd Sells 470 Shares of Prudential Financial, Inc. $PRU

Paragon Capital Management Ltd decreased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 19.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,935 shares of the financial services provider’s stock after selling 470 shares during the quarter. Paragon Capital Management Ltd’s holdings in Prudential Financial were worth $208,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. SPC Financial Inc. lifted its position in Prudential Financial by 2.6% in the first quarter. SPC Financial Inc. now owns 3,973 shares of the financial services provider’s stock worth $444,000 after buying an additional 100 shares during the last quarter. NorthCrest Asset Manangement LLC increased its stake in Prudential Financial by 3.8% in the first quarter. NorthCrest Asset Manangement LLC now owns 2,738 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 101 shares during the period. Thrive Wealth Management LLC increased its stake in Prudential Financial by 2.6% in the second quarter. Thrive Wealth Management LLC now owns 4,007 shares of the financial services provider’s stock worth $430,000 after purchasing an additional 101 shares during the period. Principle Wealth Partners LLC increased its stake in Prudential Financial by 0.3% in the first quarter. Principle Wealth Partners LLC now owns 42,294 shares of the financial services provider’s stock worth $4,723,000 after purchasing an additional 109 shares during the period. Finally, Meeder Asset Management Inc. increased its stake 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 worth $26,000 after purchasing an additional 111 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Activity

In related news, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $109.65, for a total value of $438,600.00. Following the sale, the executive vice president owned 21,506 shares in the company, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

PRU has been the topic of a number of recent analyst reports. Piper Sandler reduced their target price on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 16th. JPMorgan Chase & Co. raised their price target on Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Wall Street Zen upgraded Prudential Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Wells Fargo & Company cut their price target on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 16th. Finally, Morgan Stanley raised their price target on Prudential Financial from $113.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $122.08.

Prudential Financial Stock Up 1.7%

Shares of PRU stock opened at $104.36 on Friday. The stock has a market cap of $36.73 billion, a P/E ratio of 23.14, a P/E/G ratio of 0.93 and a beta of 1.07. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. The stock has a 50 day moving average of $105.28 and a 200 day moving average of $105.03. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data 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 business had revenue of $13.50 billion during the quarter, compared to analysts’ expectations of $13.47 billion. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The business’s revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.39 earnings per share. As a group, sell-side analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend was Tuesday, August 19th. Prudential Financial’s dividend payout ratio is 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.