Prudential Financial, Inc. $PRU Shares Sold by Prosperity Consulting Group LLC

Prosperity Consulting Group LLC trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 14.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,402 shares of the financial services provider’s stock after selling 1,089 shares during the period. Prosperity Consulting Group LLC’s holdings in Prudential Financial were worth $688,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Proffitt & Goodson Inc. raised its holdings in shares of Prudential Financial by 12.7% during the second quarter. Proffitt & Goodson Inc. now owns 871 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 98 shares during the period. SPC Financial Inc. raised its holdings in shares of Prudential Financial by 2.6% during 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 period. Thrive Wealth Management LLC raised its holdings in shares of Prudential Financial by 2.6% during 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. Eagle Capital Management LLC raised its holdings in shares of Prudential Financial by 0.3% during 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 period. Finally, TIAA Trust National Association raised its holdings in shares of Prudential Financial by 2.7% during the second quarter. TIAA Trust National Association now owns 4,142 shares of the financial services provider’s stock worth $445,000 after purchasing an additional 108 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

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 value of $438,600.00. Following the completion of the transaction, the executive vice president owned 21,506 shares in the company, valued at $2,358,132.90. This represents a 15.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by corporate insiders.

Prudential Financial Stock Performance

Shares of PRU opened at $104.45 on Thursday. The firm has a 50-day moving average price of $103.89 and a 200 day moving average price of $104.44. The firm has a market capitalization of $36.56 billion, a PE ratio of 14.35, a P/E/G ratio of 0.88 and a beta of 1.05. 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, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. The firm had revenue of $8.35 billion during the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.98%. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Tuesday, November 18th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Tuesday, November 18th. Prudential Financial’s dividend payout ratio is currently 74.18%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Piper Sandler dropped their target price on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a report on Wednesday, July 16th. Evercore ISI upped their price target on shares of Prudential Financial from $120.00 to $122.00 and gave the stock an “in-line” rating in a research report on Thursday, October 30th. Keefe, Bruyette & Woods upped their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a research report on Monday. Wall Street Zen upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Prudential Financial in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $120.73.

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.