Prudential Financial, Inc. $PRU Position Decreased by Prosperity Consulting Group LLC

Prosperity Consulting Group LLC decreased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 14.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,402 shares of the financial services provider’s stock after selling 1,089 shares during the period. Prosperity Consulting Group LLC’s holdings in Prudential Financial were worth $688,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in PRU. Econ Financial Services Corp purchased a new stake in shares of Prudential Financial in the second quarter worth approximately $1,662,000. Nordea Investment Management AB lifted its position in shares of Prudential Financial by 49.2% in the second quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock worth $184,192,000 after purchasing an additional 567,571 shares in the last quarter. Brookwood Investment Group LLC purchased a new stake in shares of Prudential Financial in the second quarter worth approximately $289,000. Acadian Asset Management LLC increased its holdings in Prudential Financial by 3.0% in the first quarter. Acadian Asset Management LLC now owns 109,447 shares of the financial services provider’s stock worth $12,217,000 after buying an additional 3,183 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in Prudential Financial by 68.2% in the first quarter. HighTower Advisors LLC now owns 110,794 shares of the financial services provider’s stock worth $12,373,000 after buying an additional 44,937 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of research firms recently commented on PRU. Barclays dropped their price objective on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Wall Street Zen upgraded Prudential Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Prudential Financial in a report on Wednesday, October 8th. Wolfe Research initiated coverage on Prudential Financial in a report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Finally, Evercore ISI increased their price target on Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a report on Thursday, October 30th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $120.73.

Prudential Financial Trading Down 0.6%

Shares of PRU stock opened at $104.45 on Thursday. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55. The business’s 50 day moving average is $103.89 and its two-hundred day moving average is $104.44. The company has a market cap of $36.56 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 0.88 and a beta of 1.05. 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 earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.98%. The business had revenue of $8.35 billion for the quarter. Equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Tuesday, November 18th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $5.40 dividend on an annualized basis and a yield of 5.2%. Prudential Financial’s dividend payout ratio (DPR) is 74.18%.

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.