MassMutual Private Wealth & Trust FSB Has $7.13 Million Position in Prudential Financial, Inc. $PRU

MassMutual Private Wealth & Trust FSB lessened its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.7% in the second quarter, HoldingsChannel.com reports. The firm owned 66,345 shares of the financial services provider’s stock after selling 491 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Prudential Financial were worth $7,128,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in Prudential Financial by 3.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,771 shares of the financial services provider’s stock valued at $2,320,000 after purchasing an additional 721 shares during the period. Golden State Wealth Management LLC increased its position in Prudential Financial by 728.4% during the 1st quarter. Golden State Wealth Management LLC now owns 845 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 743 shares during the period. HighTower Advisors LLC increased its position in Prudential Financial by 68.2% during the 1st quarter. HighTower Advisors LLC now owns 110,794 shares of the financial services provider’s stock valued at $12,373,000 after purchasing an additional 44,937 shares during the period. Exchange Traded Concepts LLC increased its position in Prudential Financial by 9.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,501 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 222 shares during the period. Finally, Sound Income Strategies LLC increased its position in Prudential Financial by 9.0% during the 1st quarter. Sound Income Strategies LLC now owns 35,408 shares of the financial services provider’s stock valued at $3,954,000 after purchasing an additional 2,913 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Activity

In other news, EVP Ann M. Kappler sold 4,000 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president directly owned 21,506 shares of the company’s stock, valued at $2,358,132.90. This trade represents a 15.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PRU has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of Prudential Financial from $119.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, July 17th. Piper Sandler cut their price target on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a report on Wednesday, July 16th. UBS Group cut their price target on Prudential Financial from $122.00 to $110.00 and set a “neutral” rating on the stock in a report on Tuesday, May 27th. Morgan Stanley increased their price target on Prudential Financial from $113.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, August 18th. Finally, Wells Fargo & Company cut their price target on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $122.08.

Prudential Financial Trading Down 1.4%

Shares of Prudential Financial stock opened at $105.41 on Tuesday. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The firm has a market cap of $37.11 billion, a PE ratio of 23.37, a P/E/G ratio of 0.95 and a beta of 1.07. The stock has a fifty day moving average price of $105.59 and a 200-day moving average price of $105.37. 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 (NYSE:PRU) last announced its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.36. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The firm had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.47 billion. During the same period last year, the firm posted $3.39 EPS. The business’s revenue was down 2.5% compared to the same quarter last year. Equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current 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 given a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 annualized dividend and a dividend yield of 5.1%. Prudential Financial’s dividend payout ratio (DPR) is currently 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.