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

Spire Wealth Management lowered its stake in Prudential Financial, Inc. (NYSE:PRU) by 40.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,181 shares of the financial services provider’s stock after selling 792 shares during the quarter. Spire Wealth Management’s holdings in Prudential Financial were worth $127,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PRU. Brighton Jones LLC lifted its stake in Prudential Financial by 3.7% in the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after buying an additional 133 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Prudential Financial by 3.6% in 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 buying an additional 721 shares in the last quarter. Strategic Blueprint LLC lifted its stake in Prudential Financial by 4.3% in the 1st quarter. Strategic Blueprint LLC now owns 3,206 shares of the financial services provider’s stock valued at $358,000 after buying an additional 131 shares in the last quarter. Concurrent Investment Advisors LLC lifted its stake in Prudential Financial by 8.6% in the 1st quarter. Concurrent Investment Advisors LLC now owns 14,516 shares of the financial services provider’s stock valued at $1,621,000 after buying an additional 1,151 shares in the last quarter. Finally, Alpha Cubed Investments LLC lifted its stake in Prudential Financial by 39.3% in the 1st quarter. Alpha Cubed Investments LLC now owns 2,408 shares of the financial services provider’s stock valued at $269,000 after buying an additional 679 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Up 0.4%

Shares of PRU opened at $105.08 on Wednesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $36.99 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 0.88 and a beta of 1.04. The stock’s fifty day simple moving average is $104.00 and its 200 day simple moving average is $104.44. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The business had revenue of $8.35 billion for the quarter. Prudential Financial had a return on equity of 16.98% and a net margin of 4.65%. On average, equities research analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Barclays reduced their price target on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Wolfe Research assumed coverage on Prudential Financial in a research note on Tuesday, September 16th. They set a “peer perform” rating on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Prudential Financial in a research note on Wednesday, October 8th. Wall Street Zen raised Prudential Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Wells Fargo & Company reduced their price target on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 16th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $120.73.

Insider Buying and Selling at Prudential Financial

In related news, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $109.65, for a total value of $438,600.00. Following the transaction, the executive vice president directly owned 21,506 shares of the company’s stock, valued at approximately $2,358,132.90. This trade represents a 15.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

Prudential Financial 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.