Foster & Motley Inc. Lowers Holdings in Prudential Financial, Inc. $PRU

Foster & Motley Inc. decreased its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,915 shares of the financial services provider’s stock after selling 1,240 shares during the quarter. Foster & Motley Inc.’s holdings in Prudential Financial were worth $5,578,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Proffitt & Goodson Inc. raised its stake in Prudential Financial by 12.7% during the second quarter. Proffitt & Goodson Inc. now owns 871 shares of the financial services provider’s stock valued at $94,000 after buying an additional 98 shares during the last quarter. SPC Financial Inc. raised its stake in shares of 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 purchasing an additional 100 shares during the last quarter. Thrive Wealth Management LLC raised its stake in shares of 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 last quarter. Eagle Capital Management LLC raised its stake in shares of Prudential Financial by 0.3% in the second quarter. Eagle Capital Management LLC now owns 35,806 shares of the financial services provider’s stock worth $3,847,000 after purchasing an additional 108 shares during the last quarter. Finally, Principle Wealth Partners LLC raised its stake in shares of 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 last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

PRU has been the subject of several recent analyst reports. Morgan Stanley boosted their price target on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Wolfe Research began coverage on Prudential Financial in a research note on Tuesday, September 16th. They issued a “peer perform” rating for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prudential Financial in a report on Wednesday, October 8th. Wall Street Zen raised Prudential Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Piper Sandler cut their price objective on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $122.27.

Prudential Financial Stock Performance

NYSE:PRU opened at $100.76 on Friday. The stock has a 50-day simple moving average of $105.06 and a two-hundred day simple moving average of $104.17. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market capitalization of $35.47 billion, a PE ratio of 22.34, a P/E/G ratio of 0.88 and a beta of 1.04.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results 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 15.80% and a net margin of 2.75%.The business had revenue of $8.35 billion during the quarter. Analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders 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 5.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Prudential Financial’s payout ratio is currently 119.73%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the business’s 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 owned 21,506 shares of the company’s stock, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.25% of the company’s stock.

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.