Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Burney Co.

Burney Co. reduced its holdings in Prudential Financial, Inc. (NYSE:PRU) by 4.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,927 shares of the financial services provider’s stock after selling 1,381 shares during the quarter. Burney Co.’s holdings in Prudential Financial were worth $3,624,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Annex Advisory Services LLC boosted its holdings in Prudential Financial by 3.4% in the second quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 81 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of Prudential Financial by 1.1% during the 2nd quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock worth $951,000 after acquiring an additional 87 shares in the last quarter. Peoples Bank OH boosted its position in shares of Prudential Financial by 2.3% in the first quarter. Peoples Bank OH now owns 4,046 shares of the financial services provider’s stock worth $475,000 after buying an additional 90 shares during the period. Quotient Wealth Partners LLC raised its holdings in shares of Prudential Financial by 3.9% during the second quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock worth $284,000 after acquiring an additional 92 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Prudential Financial by 1.3% during the first quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider’s stock worth $875,000 after acquiring an additional 94 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the stock in a transaction dated Thursday, June 20th. The shares were purchased at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the acquisition, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the transaction, the executive vice president now directly owns 14,535 shares in the company, valued at $1,648,705.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were acquired at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the acquisition, the insider now owns 3,883,390 shares in the company, valued at $107,065,062.30. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by corporate insiders.

Prudential Financial Stock Performance

Shares of PRU stock traded up $1.52 during trading on Thursday, reaching $120.30. 650,623 shares of the company’s stock traded hands, compared to its average volume of 1,494,061. Prudential Financial, Inc. has a 1 year low of $87.95 and a 1 year high of $128.52. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $43.19 billion, a P/E ratio of 20.34, a PEG ratio of 0.89 and a beta of 1.34. The firm’s 50-day moving average is $117.91 and its 200 day moving average is $115.07.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Equities research analysts expect that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th will be given a $1.30 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.32%. Prudential Financial’s dividend payout ratio is 88.44%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PRU shares. Morgan Stanley decreased their target price on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Jefferies Financial Group dropped their price objective on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $121.00 target price on shares of Prudential Financial in a research report on Wednesday, August 21st. Citigroup boosted their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Finally, Argus raised shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $119.33.

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.