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

Ritholtz Wealth Management decreased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,586 shares of the financial services provider’s stock after selling 407 shares during the quarter. Ritholtz Wealth Management’s holdings in Prudential Financial were worth $923,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PRU. Meeder Asset Management Inc. boosted its position in shares of 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 last quarter. Cheviot Value Management LLC acquired a new position in shares of Prudential Financial during the 1st quarter valued at about $26,000. North Capital Inc. acquired a new position in shares of Prudential Financial during the 1st quarter valued at about $28,000. AlphaQuest LLC boosted its position in shares of 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 last quarter. Finally, Clearstead Trust LLC boosted its position in shares of 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 last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Up 0.9%

Shares of NYSE:PRU opened at $100.76 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market capitalization of $35.47 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 0.89 and a beta of 1.04. The firm’s 50-day moving average is $105.06 and its two-hundred day moving average is $104.11. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 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 earnings per share (EPS) for the quarter. The company had revenue of $8.35 billion for the quarter. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. Analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current 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 paid a dividend of $1.35 per share. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a yield of 5.4%. Prudential Financial’s dividend payout ratio is 119.73%.

Insider Buying and Selling at Prudential Financial

In related news, EVP Ann M. Kappler sold 4,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 21,506 shares in the company, valued at approximately $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 accessible through the SEC website. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Wolfe Research assumed coverage on shares of Prudential Financial in a report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Piper Sandler reduced their price objective on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a report on Wednesday, July 16th. Finally, Morgan Stanley boosted their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $122.27.

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.