Tyche Wealth Partners LLC Sells 1,591 Shares of Prudential Financial, Inc. $PRU

Tyche Wealth Partners LLC lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 30.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,705 shares of the financial services provider’s stock after selling 1,591 shares during the period. Tyche Wealth Partners LLC’s holdings in Prudential Financial were worth $398,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of PRU. Nuveen LLC bought a new stake in Prudential Financial during the first quarter valued at about $90,010,000. Goldman Sachs Group Inc. grew its holdings in Prudential Financial by 19.2% during the first quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider’s stock valued at $469,777,000 after purchasing an additional 678,028 shares during the period. Amundi grew its holdings in Prudential Financial by 14.1% during the first quarter. Amundi now owns 1,751,633 shares of the financial services provider’s stock valued at $183,571,000 after purchasing an additional 216,119 shares during the period. AQR Capital Management LLC boosted its stake in shares of Prudential Financial by 72.8% in the first quarter. AQR Capital Management LLC now owns 424,659 shares of the financial services provider’s stock worth $46,789,000 after acquiring an additional 178,888 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Prudential Financial by 2.7% in the first quarter. Invesco Ltd. now owns 4,440,003 shares of the financial services provider’s stock worth $495,859,000 after acquiring an additional 116,079 shares during the period. Institutional investors own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the company’s stock in a transaction that occurred 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 $2,358,132.90. This represents a 15.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.25% of the stock is currently owned by company insiders.

Prudential Financial Price Performance

NYSE:PRU opened at $103.68 on Wednesday. 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 company has a market capitalization of $36.49 billion, a P/E ratio of 22.99, a P/E/G ratio of 0.91 and a beta of 1.04. 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 $105.18 and its 200 day moving average is $104.74.

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

Prudential Financial Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 5.2%. Prudential Financial’s dividend payout ratio is 119.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Piper Sandler dropped their price objective 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. Barclays upped their price objective 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. Wolfe Research started coverage on shares of Prudential Financial in a report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Prudential Financial in a report on Saturday, September 27th. Finally, Wall Street Zen upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Prudential Financial has an average rating of “Hold” and a consensus price target of $122.17.

Prudential Financial 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.