Securian Asset Management Inc. Sells 288 Shares of Prudential Financial, Inc. $PRU

Securian Asset Management Inc. trimmed its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.5% during the second quarter, Holdings Channel.com reports. The fund owned 18,429 shares of the financial services provider’s stock after selling 288 shares during the quarter. Securian Asset Management Inc.’s holdings in Prudential Financial were worth $1,980,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its holdings 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. AlphaQuest LLC boosted its holdings in Prudential Financial by 12,250.0% during the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 245 shares during the last quarter. North Capital Inc. purchased a new position in Prudential Financial during the 1st quarter worth $28,000. Cheviot Value Management LLC purchased a new position in Prudential Financial during the 1st quarter worth $26,000. Finally, Clearstead Trust LLC boosted its holdings in Prudential Financial by 350.8% during the 1st quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 207 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Trading Up 0.2%

Shares of PRU opened at $102.05 on Thursday. The business’s 50-day moving average price is $104.86 and its 200-day moving average price is $104.11. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. The stock has a market cap of $35.92 billion, a PE ratio of 22.63, a P/E/G ratio of 0.90 and a beta of 1.04. 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 (NYSE:PRU) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The firm had revenue of $8.35 billion for the quarter. On average, equities analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders 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 5.3%. Prudential Financial’s dividend payout ratio is currently 119.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PRU shares. Piper Sandler cut their price objective 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. Wells Fargo & Company cut their price target on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 16th. Barclays cut their price target on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Wolfe Research started coverage on shares of Prudential Financial in a report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Prudential Financial in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $122.27.

Insider Buying and Selling at Prudential Financial

In other news, EVP Ann M. Kappler sold 4,000 shares of the company’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 sale, the executive vice president directly owned 21,506 shares in the company, valued at $2,358,132.90. This represents a 15.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by corporate insiders.

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.