Trust Investment Advisors Has $1.12 Million Stake in Prudential Financial, Inc. $PRU

Trust Investment Advisors reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 6.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,440 shares of the financial services provider’s stock after selling 701 shares during the period. Trust Investment Advisors’ holdings in Prudential Financial were worth $1,122,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in PRU. Howard Capital Management Inc. lifted its position in shares of Prudential Financial by 169.8% during the 2nd quarter. Howard Capital Management Inc. now owns 5,739 shares of the financial services provider’s stock valued at $617,000 after acquiring an additional 3,612 shares during the period. Brookwood Investment Group LLC acquired a new position in Prudential Financial in the second quarter valued at about $289,000. Envestnet Asset Management Inc. lifted its position in Prudential Financial by 2.4% during the second quarter. Envestnet Asset Management Inc. now owns 815,841 shares of the financial services provider’s stock worth $87,654,000 after purchasing an additional 18,901 shares during the period. Nisa Investment Advisors LLC grew its stake in Prudential Financial by 0.9% during the second quarter. Nisa Investment Advisors LLC now owns 140,857 shares of the financial services provider’s stock worth $15,134,000 after buying an additional 1,204 shares in the last quarter. Finally, New Hampshire Trust increased its holdings in Prudential Financial by 5.3% in the 2nd quarter. New Hampshire Trust now owns 4,261 shares of the financial services provider’s stock valued at $458,000 after buying an additional 216 shares during the period. Institutional investors own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PRU shares. JPMorgan Chase & Co. increased their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Wolfe Research assumed coverage on Prudential Financial in a research note on Tuesday, September 16th. They set a “peer perform” rating for the company. Morgan Stanley lifted their price target on Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. 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 report on Wednesday, July 16th. Finally, Wall Street Zen upgraded Prudential Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $122.27.

Prudential Financial Price Performance

Shares of PRU opened at $102.12 on Tuesday. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The business has a 50-day simple moving average of $104.59 and a two-hundred day simple moving average of $104.25. 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 cap of $35.95 billion, a PE ratio of 22.64, a PEG ratio of 0.89 and a beta of 1.04.

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

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were given 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 dividend payout ratio is 119.73%.

Insider Activity

In other news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial 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 transaction, the executive vice president owned 21,506 shares in the company, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

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.