Carlton Hofferkamp & Jenks Wealth Management LLC Trims Stock Holdings in Prudential Financial, Inc. $PRU

Carlton Hofferkamp & Jenks Wealth Management LLC reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 2.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,934 shares of the financial services provider’s stock after selling 189 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Prudential Financial were worth $909,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AlphaQuest LLC increased its stake in Prudential Financial by 127.1% during the second quarter. AlphaQuest LLC now owns 561 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 314 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Prudential Financial by 11.1% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 888,793 shares of the financial services provider’s stock worth $95,492,000 after purchasing an additional 88,657 shares during the period. AlTi Global Inc. increased its stake in Prudential Financial by 11.5% during the second quarter. AlTi Global Inc. now owns 2,315 shares of the financial services provider’s stock worth $249,000 after purchasing an additional 239 shares during the period. Strategic Blueprint LLC increased its stake in Prudential Financial by 14.4% during the second quarter. Strategic Blueprint LLC now owns 3,667 shares of the financial services provider’s stock worth $394,000 after purchasing an additional 461 shares during the period. Finally, LifeWealth Investments LLC increased its stake in Prudential Financial by 26.8% during the second quarter. LifeWealth Investments LLC now owns 4,495 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 951 shares during the period. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on PRU shares. 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 research note on Wednesday, July 16th. JPMorgan Chase & Co. boosted their price objective on Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Morgan Stanley boosted their price objective on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Wall Street Zen raised Prudential Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Weiss Ratings reissued 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, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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 stock in a transaction that occurred on 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 sale, the executive vice president directly owned 21,506 shares of the company’s stock, valued at approximately $2,358,132.90. This represents a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.25% of the company’s stock.

Prudential Financial Stock Up 0.5%

PRU stock opened at $102.23 on Friday. 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 twelve month low of $90.38 and a twelve month high of $130.55. The company’s 50 day moving average is $104.68 and its two-hundred day moving average is $104.20. The stock has a market cap of $35.99 billion, a P/E ratio of 22.67, a PEG ratio of 0.90 and a beta of 1.04.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The company had revenue of $8.35 billion for the quarter. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. Research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Prudential Financial’s dividend payout ratio is presently 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.