Foster & Motley Inc. Sells 1,240 Shares of Prudential Financial, Inc. $PRU

Foster & Motley Inc. decreased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 2.3% in the second quarter, HoldingsChannel.com reports. The fund owned 51,915 shares of the financial services provider’s stock after selling 1,240 shares during the quarter. Foster & Motley Inc.’s holdings in Prudential Financial were worth $5,578,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Proffitt & Goodson Inc. boosted its stake in shares of Prudential Financial by 12.7% in the second quarter. Proffitt & Goodson Inc. now owns 871 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 98 shares during the period. SPC Financial Inc. boosted its stake in Prudential Financial by 2.6% during the first quarter. SPC Financial Inc. now owns 3,973 shares of the financial services provider’s stock valued at $444,000 after buying an additional 100 shares during the last quarter. Thrive Wealth Management LLC boosted its stake in 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 valued at $430,000 after buying an additional 101 shares during the last quarter. Eagle Capital Management LLC boosted its stake in 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 valued at $3,847,000 after buying an additional 108 shares during the last quarter. Finally, Principle Wealth Partners LLC boosted its stake in Prudential Financial by 0.3% during the first quarter. Principle Wealth Partners LLC now owns 42,294 shares of the financial services provider’s stock valued at $4,723,000 after buying an additional 109 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the topic of a number of recent research reports. Wolfe Research initiated coverage on Prudential Financial in a research report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Barclays decreased their price objective on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Wall Street Zen upgraded Prudential Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Morgan Stanley increased their price target on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Finally, Wells Fargo & Company reduced their price target on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 16th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $122.27.

Prudential Financial Stock Up 0.9%

Shares of NYSE PRU opened at $100.76 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. The stock has a market capitalization of $35.47 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 0.88 and a beta of 1.04. The stock’s fifty day simple moving average is $105.06 and its two-hundred day simple moving average is $104.17. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month 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 business had revenue of $8.35 billion for the quarter. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%. As a group, analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were given a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.4%. Prudential Financial’s dividend payout ratio (DPR) is presently 119.73%.

Insider Buying and Selling at Prudential Financial

In other 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 value of $438,600.00. Following the completion of the sale, the executive vice president owned 21,506 shares of the company’s stock, valued at $2,358,132.90. This trade represents a 15.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by insiders.

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.