Belpointe Asset Management LLC Sells 101 Shares of Prudential Financial, Inc. (NYSE:PRU)

Belpointe Asset Management LLC decreased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 7,370 shares of the financial services provider’s stock after selling 101 shares during the quarter. Belpointe Asset Management LLC’s holdings in Prudential Financial were worth $864,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Prudential Financial by 13.9% in the fourth quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock valued at $4,386,192,000 after buying an additional 5,154,865 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Prudential Financial by 10.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock valued at $414,926,000 after acquiring an additional 388,363 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Prudential Financial by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,346,612 shares of the financial services provider’s stock worth $243,367,000 after acquiring an additional 72,696 shares during the last quarter. AustralianSuper Pty Ltd grew its holdings in Prudential Financial by 2.8% during the second quarter. AustralianSuper Pty Ltd now owns 1,237,537 shares of the financial services provider’s stock valued at $145,027,000 after purchasing an additional 34,160 shares during the period. Finally, Norges Bank bought a new stake in Prudential Financial in the fourth quarter valued at approximately $113,478,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now directly owns 14,535 shares in the company, valued at approximately $1,648,705.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now directly owns 14,535 shares in the company, valued at approximately $1,648,705.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

PRU has been the subject of several research analyst reports. 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. UBS Group boosted their target price on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Wells Fargo & Company raised Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price target on the stock in a research report on Monday, August 12th. Jefferies Financial Group lowered their target price on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $119.23.

Prudential Financial Trading Down 1.5 %

Prudential Financial stock opened at $117.78 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a 50-day moving average of $118.23 and a 200-day moving average of $115.58. The company has a market cap of $42.05 billion, a price-to-earnings ratio of 20.03, a P/E/G ratio of 0.94 and a beta of 1.30. Prudential Financial, Inc. has a one year low of $87.95 and a one year high of $128.52.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $13.78 billion. On average, equities analysts expect that Prudential Financial, Inc. will post 13.33 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend is Tuesday, August 20th. Prudential Financial’s dividend payout ratio (DPR) is currently 88.44%.

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.