Abundance Wealth Counselors Grows Stock Holdings in Prudential Financial, Inc. $PRU

Abundance Wealth Counselors boosted its stake in Prudential Financial, Inc. (NYSE:PRU) by 4.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,375 shares of the financial services provider’s stock after acquiring an additional 893 shares during the period. Abundance Wealth Counselors’ holdings in Prudential Financial were worth $2,082,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its position 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 during the last quarter. Cheviot Value Management LLC purchased a new stake in Prudential Financial in the first quarter valued at $26,000. North Capital Inc. purchased a new stake in Prudential Financial in the first quarter valued at $28,000. AlphaQuest LLC lifted its position in Prudential Financial by 12,250.0% in the first 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. Finally, Opal Wealth Advisors LLC purchased a new stake in Prudential Financial in the first quarter valued at $30,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Prudential Financial

In related news, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.25% of the stock is owned by corporate insiders.

Prudential Financial Trading Down 1.1%

NYSE PRU opened at $101.87 on Friday. The stock has a market capitalization of $35.86 billion, a P/E ratio of 22.59, a P/E/G ratio of 0.91 and a beta of 1.04. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The firm has a 50-day moving average price of $105.21 and a 200 day moving average price of $104.91. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.36. The firm had revenue of $13.50 billion during the quarter, compared to analysts’ expectations of $13.47 billion. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $3.39 earnings per share. Equities research analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently declared 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 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%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PRU shares. Morgan Stanley boosted their price target on shares of Prudential Financial from $113.00 to $117.00 and gave the company an “equal weight” rating in a research report on Monday, August 18th. Barclays upped their target price on shares of Prudential Financial from $119.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, July 17th. JPMorgan Chase & Co. upped their target price on shares of Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Wolfe Research began coverage on shares of Prudential Financial in a report on Tuesday, September 16th. They issued a “peer perform” rating for the company. Finally, Piper Sandler reduced their target price on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a report on Wednesday, July 16th. One 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. According to data from MarketBeat, Prudential Financial presently has an average rating of “Hold” and a consensus price target of $122.08.

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.