B. Riley Wealth Advisors Inc. Sells 3,145 Shares of Prudential Financial, Inc. (NYSE:PRU)

B. Riley Wealth Advisors Inc. cut its position in Prudential Financial, Inc. (NYSE:PRU) by 12.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 21,976 shares of the financial services provider’s stock after selling 3,145 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Prudential Financial were worth $2,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Creekmur Asset Management LLC raised its stake in Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 108 shares during the period. Lynx Investment Advisory purchased a new position in shares of Prudential Financial in the second quarter worth about $29,000. Strategic Financial Concepts LLC lifted its stake in shares of Prudential Financial by 1,312.4% during the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after buying an additional 25,027 shares in the last quarter. Crewe Advisors LLC bought a new position in Prudential Financial in the 1st quarter worth approximately $33,000. Finally, ESL Trust Services LLC purchased a new position in Prudential Financial in the 1st quarter valued at approximately $34,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. JPMorgan Chase & Co. lifted their target price on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Jefferies Financial Group lowered their price target on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Barclays assumed coverage on shares of Prudential Financial in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price objective for the company. Finally, Wells Fargo & Company raised shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price target for the company in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Prudential Financial presently has a consensus rating of “Hold” and an average target price of $120.83.

Prudential Financial Trading Down 1.4 %

Shares of PRU stock opened at $119.36 on Wednesday. The business has a 50-day moving average price of $117.12 and a two-hundred day moving average price of $116.81. Prudential Financial, Inc. has a 12-month low of $87.95 and a 12-month high of $128.52. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The firm has a market cap of $42.85 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 0.95 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last issued its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.43 by ($0.04). The firm had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. Equities analysts anticipate that Prudential Financial, Inc. will post 13.3 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s payout ratio is presently 88.44%.

Insiders Place Their Bets

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

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.