Focus Partners Wealth Lowers Stake in Prudential Financial, Inc. $PRU

Focus Partners Wealth lowered its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,589 shares of the financial services provider’s stock after selling 542 shares during the period. Focus Partners Wealth’s holdings in Prudential Financial were worth $1,853,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Integrity Alliance LLC. purchased a new stake in shares of Prudential Financial during the 1st quarter valued at $229,000. Ransom Advisory Ltd purchased a new stake in shares of Prudential Financial during the 1st quarter valued at $101,000. Glenview Trust co increased its position in shares of Prudential Financial by 37.5% in the 1st quarter. Glenview Trust co now owns 2,862 shares of the financial services provider’s stock valued at $320,000 after acquiring an additional 780 shares during the period. Optimize Financial Inc raised its stake in Prudential Financial by 14.4% in the 1st quarter. Optimize Financial Inc now owns 3,375 shares of the financial services provider’s stock worth $377,000 after acquiring an additional 425 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in Prudential Financial by 30.5% in the 1st quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock worth $1,976,000 after acquiring an additional 4,134 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

NYSE:PRU opened at $102.11 on Wednesday. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $35.94 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 0.94 and a beta of 1.07. The stock’s 50-day moving average price is $105.48 and its 200-day moving average price is $105.35.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.36. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The firm had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.47 billion. During the same period last year, the firm earned $3.39 EPS. The company’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 5.3%. The ex-dividend date was Tuesday, August 19th. Prudential Financial’s payout ratio is presently 119.73%.

Insider Transactions 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 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 filing with the SEC, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Barclays raised their target price on Prudential Financial from $119.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. UBS Group reduced their target price on Prudential Financial from $122.00 to $110.00 and set a “neutral” rating for the company in a research note on Tuesday, May 27th. Morgan Stanley raised their target price on Prudential Financial from $113.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Monday, August 18th. Piper Sandler reduced their target price on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a research note on Wednesday, July 16th. Finally, Wolfe Research began coverage on Prudential Financial in a research report on Tuesday. They set a “peer perform” rating on the stock. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $122.08.

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.