Formidable Asset Management LLC lessened its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,636 shares of the financial services provider’s stock after selling 37 shares during the quarter. Formidable Asset Management LLC’s holdings in Prudential Financial were worth $501,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hudock Capital Group LLC lifted its stake in shares of Prudential Financial by 0.7% during the second quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 8 shares during the period. First Personal Financial Services lifted its stake in shares of Prudential Financial by 3.4% during the first quarter. First Personal Financial Services now owns 1,407 shares of the financial services provider’s stock valued at $150,000 after acquiring an additional 46 shares during the period. Guardian Life Insurance Co. of America lifted its stake in shares of Prudential Financial by 0.3% during the first quarter. Guardian Life Insurance Co. of America now owns 1,658 shares of the financial services provider’s stock valued at $177,000 after acquiring an additional 5 shares during the period. Accurate Investment Solutions Inc. lifted its stake in shares of Prudential Financial by 2.3% during the second quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock valued at $180,000 after acquiring an additional 38 shares during the period. Finally, Trust Co. of Vermont lifted its stake in shares of Prudential Financial by 28.5% during the second quarter. Trust Co. of Vermont now owns 1,711 shares of the financial services provider’s stock valued at $185,000 after acquiring an additional 380 shares during the period. 64.46% of the stock is currently owned by institutional investors and hedge funds.

In other Prudential Financial news, insider Stephen Pelletier sold 4,133 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $112.18, for a total transaction of $463,639.94. Following the completion of the sale, the insider now directly owns 10,924 shares of the company’s stock, valued at approximately $1,225,454.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas C. Silitch sold 14,897 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total value of $1,638,670.00. Following the sale, the insider now directly owns 21,274 shares of the company’s stock, valued at $2,340,140. The disclosure for this sale can be found here. Insiders have sold a total of 220,615 shares of company stock valued at $24,276,660 over the last three months. Corporate insiders own 0.66% of the company’s stock.

Prudential Financial, Inc. (NYSE PRU) traded up 0.0028% during trading on Friday, reaching $101.9729. The company’s stock had a trading volume of 951,261 shares. Prudential Financial, Inc. has a 52-week low of $78.50 and a 52-week high of $115.26. The firm has a 50 day moving average price of $105.30 and a 200-day moving average price of $107.14. The stock has a market cap of $43.54 billion, a price-to-earnings ratio of 11.3847 and a beta of 1.49.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 EPS for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.61). The company had revenue of $13.03 billion for the quarter, compared to the consensus estimate of $12.45 billion. Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. During the same period in the prior year, the firm posted $1.84 earnings per share. On average, analysts expect that Prudential Financial, Inc. will post $10.14 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Tuesday, August 22nd were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date was Friday, August 18th. Prudential Financial’s dividend payout ratio is currently 33.63%.

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PRU has been the topic of several research reports. BidaskClub lowered Prudential Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Credit Suisse Group cut their price target on Prudential Financial from $121.00 to $120.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 23rd. ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a research note on Tuesday, June 6th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $117.00 price target on shares of Prudential Financial in a research note on Wednesday, September 6th. Ten research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $111.49.

Prudential Financial Profile

Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.

Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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