Bartlett & CO. Wealth Management LLC Decreases Holdings in Prudential Financial, Inc. $PRU

Bartlett & CO. Wealth Management LLC reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 3.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 11,825 shares of the financial services provider’s stock after selling 477 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Prudential Financial were worth $1,270,000 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. SPC Financial Inc. grew its holdings in shares of Prudential Financial by 2.6% during the 1st quarter. SPC Financial Inc. now owns 3,973 shares of the financial services provider’s stock valued at $444,000 after purchasing an additional 100 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its position in Prudential Financial by 3.8% during the first quarter. NorthCrest Asset Manangement LLC now owns 2,738 shares of the financial services provider’s stock valued at $306,000 after buying an additional 101 shares during the period. Thrive Wealth Management LLC increased its holdings 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 buying an additional 101 shares during the period. Principle Wealth Partners LLC lifted its stake in shares of Prudential Financial by 0.3% in the 1st quarter. Principle Wealth Partners LLC now owns 42,294 shares of the financial services provider’s stock valued at $4,723,000 after acquiring an additional 109 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its position in Prudential Financial by 90.2% during the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president owned 21,506 shares of the company’s stock, valued at approximately $2,358,132.90. This trade represents a 15.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PRU has been the subject of several recent research reports. Piper Sandler lowered their price objective on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a research report on Wednesday, July 16th. Morgan Stanley upped their price target on shares of Prudential Financial from $113.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, August 18th. JPMorgan Chase & Co. raised their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Wells Fargo & Company decreased their price objective on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and a consensus target price of $122.08.

Prudential Financial Trading Down 0.6%

NYSE:PRU opened at $103.08 on Thursday. The company has a 50-day moving average price of $105.26 and a 200-day moving average price of $104.97. The stock has a market cap of $36.28 billion, a price-to-earnings ratio of 22.86, a P/E/G ratio of 0.92 and a beta of 1.04. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.36. The company had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.47 billion. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. Prudential Financial’s revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.39 earnings per share. Equities analysts predict 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 given a dividend of $1.35 per share. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 annualized dividend and a dividend yield of 5.2%. Prudential Financial’s payout ratio is currently 119.73%.

About Prudential Financial

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.