Prime Capital Investment Advisors LLC Trims Stake in Prudential Financial, Inc. $PRU

Prime Capital Investment Advisors LLC lowered its holdings in Prudential Financial, Inc. (NYSE:PRU) by 10.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,342 shares of the financial services provider’s stock after selling 595 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Prudential Financial were worth $574,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PRU. Brighton Jones LLC raised its position in Prudential Financial by 3.7% in the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 133 shares during the period. GAMMA Investing LLC raised its position in Prudential Financial by 1.9% in the first quarter. GAMMA Investing LLC now owns 7,771 shares of the financial services provider’s stock valued at $868,000 after purchasing an additional 145 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of Prudential Financial by 5.8% in the 1st quarter. Handelsbanken Fonder AB now owns 69,561 shares of the financial services provider’s stock valued at $7,769,000 after buying an additional 3,811 shares during the period. NorthCrest Asset Manangement LLC raised its holdings in shares of Prudential Financial by 3.8% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 2,738 shares of the financial services provider’s stock valued at $306,000 after buying an additional 101 shares during the period. Finally, Verity & Verity LLC raised its holdings in shares of Prudential Financial by 3.6% in the 1st quarter. Verity & Verity LLC now owns 189,321 shares of the financial services provider’s stock valued at $21,143,000 after buying an additional 6,620 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Prudential Financial in a report on Wednesday. Wall Street Zen upgraded Prudential Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Barclays cut 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. Finally, Piper Sandler cut their price objective on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $122.27.

Insider Activity

In other news, EVP Ann M. Kappler sold 4,000 shares of the company’s 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 completion of the transaction, the executive vice president directly owned 21,506 shares of the company’s stock, valued at approximately $2,358,132.90. This represents a 15.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $99.08 on Friday. The stock’s 50-day moving average is $105.15 and its two-hundred day moving average is $104.54. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The company has a market cap of $34.88 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 0.91 and a beta of 1.04.

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

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Prudential Financial’s dividend payout ratio is currently 119.73%.

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.