IFP Advisors Inc Decreases Position in Prudential Financial, Inc. $PRU

IFP Advisors Inc lessened its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 31.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,908 shares of the financial services provider’s stock after selling 1,777 shares during the quarter. IFP Advisors Inc’s holdings in Prudential Financial were worth $462,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Proffitt & Goodson Inc. lifted its holdings in shares of Prudential Financial by 12.7% during the 2nd quarter. Proffitt & Goodson Inc. now owns 871 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 98 shares during the last quarter. SPC Financial Inc. raised its stake in Prudential Financial by 2.6% in the 1st quarter. SPC Financial Inc. now owns 3,973 shares of the financial services provider’s stock worth $444,000 after acquiring an additional 100 shares during the last quarter. Thrive Wealth Management LLC raised its stake in Prudential Financial by 2.6% in the 2nd quarter. Thrive Wealth Management LLC now owns 4,007 shares of the financial services provider’s stock worth $430,000 after acquiring an additional 101 shares during the last quarter. Eagle Capital Management LLC raised its stake in Prudential Financial by 0.3% in the 2nd quarter. Eagle Capital Management LLC now owns 35,806 shares of the financial services provider’s stock worth $3,847,000 after acquiring an additional 108 shares during the last quarter. Finally, Principle Wealth Partners LLC raised its stake in 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 worth $4,723,000 after acquiring an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

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 owned 21,506 shares in the company, valued at $2,358,132.90. The trade was a 15.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Prudential Financial Price Performance

Shares of Prudential Financial stock opened at $103.68 on Wednesday. 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, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. The business has a 50-day moving average price of $105.15 and a 200 day moving average price of $104.33. The firm has a market cap of $36.50 billion, a PE ratio of 22.99, a P/E/G ratio of 0.90 and a beta of 1.04.

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 during the quarter. Sell-side analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Tuesday, August 19th. Prudential Financial’s payout ratio is currently 119.73%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PRU. Morgan Stanley raised their target price on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Barclays reduced their target price on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Wells Fargo & Company reduced their target price on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 16th. Weiss Ratings restated a “hold (c)” rating on shares of Prudential Financial in a research note on Wednesday, October 8th. Finally, Wolfe Research initiated coverage on Prudential Financial in a research note on Tuesday, September 16th. They issued a “peer perform” rating for the company. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $122.27.

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.