Koshinski Asset Management Inc. Sells 317 Shares of Prudential Financial, Inc. $PRU

Koshinski Asset Management Inc. lessened its holdings in Prudential Financial, Inc. (NYSE:PRU) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,679 shares of the financial services provider’s stock after selling 317 shares during the period. Koshinski Asset Management Inc.’s holdings in Prudential Financial were worth $1,362,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its holdings in shares of Prudential Financial by 90.2% in the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 111 shares in the last quarter. AlphaQuest LLC lifted its stake in Prudential Financial by 12,250.0% during the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 245 shares in the last quarter. North Capital Inc. purchased a new position in Prudential Financial during the 1st quarter worth $28,000. Cheviot Value Management LLC bought a new stake in shares of Prudential Financial in the 1st quarter worth $26,000. Finally, Clearstead Trust LLC raised its holdings in shares of Prudential Financial by 350.8% in the first quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 207 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Prudential Financial Trading Up 0.9%

Shares of PRU opened at $100.76 on Friday. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The business has a 50-day moving average of $105.06 and a 200 day moving average of $104.11. The firm has a market cap of $35.47 billion, a P/E ratio of 22.34, a price-to-earnings-growth ratio of 0.89 and a beta of 1.04. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The firm had revenue of $8.35 billion during the quarter. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. As a group, research analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders 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 5.4%. Prudential Financial’s dividend payout ratio is currently 119.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Prudential Financial in a research note on Wednesday, October 8th. Wolfe Research assumed coverage on Prudential Financial in a report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Barclays decreased their target price on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Piper Sandler cut their price target 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. Finally, Morgan Stanley raised their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $122.27.

Insider Activity at Prudential Financial

In related news, EVP Ann M. Kappler sold 4,000 shares of the business’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 sale, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is owned by 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.