Hardy Reed LLC Trims Stock Holdings in Prudential Financial, Inc. $PRU

Hardy Reed LLC lowered its holdings in Prudential Financial, Inc. (NYSE:PRU) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,260 shares of the financial services provider’s stock after selling 152 shares during the period. Hardy Reed LLC’s holdings in Prudential Financial were worth $673,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Capital Advisors Inc. OK raised its holdings in Prudential Financial by 6.0% during the 2nd quarter. Capital Advisors Inc. OK now owns 299,332 shares of the financial services provider’s stock valued at $32,160,000 after acquiring an additional 17,034 shares during the period. Belpointe Asset Management LLC grew its position in shares of Prudential Financial by 4.5% in the second quarter. Belpointe Asset Management LLC now owns 9,750 shares of the financial services provider’s stock valued at $1,048,000 after purchasing an additional 417 shares in the last quarter. Valley National Advisers Inc. raised its stake in shares of Prudential Financial by 116.6% during the 2nd quarter. Valley National Advisers Inc. now owns 2,172 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 1,169 shares during the period. Duncan Williams Asset Management LLC purchased a new stake in Prudential Financial during the 2nd quarter worth about $898,000. Finally, Valeo Financial Advisors LLC boosted its stake in Prudential Financial by 65.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 8,642 shares of the financial services provider’s stock worth $929,000 after purchasing an additional 3,403 shares during the period. 56.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wolfe Research assumed coverage on shares of Prudential Financial in a report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Prudential Financial in a research note on Saturday, September 27th. 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. JPMorgan Chase & Co. increased their price objective on Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Finally, Piper Sandler dropped their price objective on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $122.08.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the transaction, the executive vice president directly owned 21,506 shares in the company, valued at $2,358,132.90. This trade represents a 15.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Prudential Financial Stock Performance

NYSE PRU opened at $103.21 on Tuesday. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The company has a fifty day moving average of $105.18 and a 200-day moving average of $104.74. The company has a market capitalization of $36.33 billion, a P/E ratio of 22.88, a P/E/G ratio of 0.92 and a beta of 1.04. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16.

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

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were given a $1.35 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a yield of 5.2%. Prudential Financial’s payout ratio is presently 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.