Prudential Financial, Inc. $PRU Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 21.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,884 shares of the financial services provider’s stock after selling 2,398 shares during the period. Apollon Wealth Management LLC’s holdings in Prudential Financial were worth $955,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Meeder Asset Management Inc. lifted its stake in Prudential Financial by 90.2% during the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 111 shares during the period. 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 during the period. North Capital Inc. acquired a new stake in Prudential Financial during the 1st quarter valued at approximately $28,000. Cheviot Value Management LLC acquired a new stake in Prudential Financial during the 1st quarter valued at approximately $26,000. Finally, Clearstead Trust LLC lifted its stake in Prudential Financial by 350.8% during the 1st quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 207 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Ann M. Kappler sold 4,000 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the sale, the executive vice president owned 21,506 shares of the company’s stock, valued at $2,358,132.90. This 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 owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PRU shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Prudential Financial in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Wall Street Zen upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Wells Fargo & Company decreased their target price on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 16th. Finally, Barclays decreased their target price on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $122.27.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $103.68 on Wednesday. The firm has a market cap of $36.50 billion, a PE ratio of 22.99, a PEG ratio of 0.90 and a beta of 1.04. The firm has a fifty day moving average of $105.15 and a 200 day moving average of $104.33. 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, Inc. has a one year low of $90.38 and a one year high of $130.55.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. The company 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 predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.2%. Prudential Financial’s dividend payout ratio is presently 119.73%.

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.