Prudential Financial, Inc. $PRU Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC cut its stake in Prudential Financial, Inc. (NYSE:PRU) by 4.6% in the second quarter, HoldingsChannel reports. The fund owned 25,607 shares of the financial services provider’s stock after selling 1,234 shares during the period. Metis Global Partners LLC’s holdings in Prudential Financial were worth $2,751,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. increased its holdings 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 buying an additional 111 shares in the last quarter. Cheviot Value Management LLC acquired a new position in Prudential Financial during the first quarter worth $26,000. AlphaQuest LLC lifted its stake in Prudential Financial by 12,250.0% in the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after buying an additional 245 shares in the last quarter. Clearstead Trust LLC grew its position in shares of Prudential Financial by 350.8% in the first quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 207 shares in the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new position in Prudential Financial in the 1st quarter valued at about $45,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Up 1.0%

Shares of Prudential Financial stock opened at $106.24 on Monday. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average price of $103.75 and a two-hundred day moving average price of $104.57. The stock has a market capitalization of $37.19 billion, a P/E ratio of 14.59, a PEG ratio of 0.88 and a beta of 1.05.

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

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Tuesday, November 18th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Tuesday, November 18th. Prudential Financial’s payout ratio is presently 74.18%.

Insider Buying and Selling

In related news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction dated Friday, August 29th. The stock was 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 directly owned 21,506 shares of the company’s stock, valued at $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PRU. Weiss Ratings reiterated a “hold (c)” rating on shares of Prudential Financial in a research note on Wednesday, October 8th. Wells Fargo & Company decreased their target price on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 16th. Wall Street Zen upgraded Prudential Financial from a “hold” rating to a “buy” rating in a research note on Saturday. 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, November 3rd. Finally, Evercore ISI lifted their target price on Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.