Founders Financial Alliance LLC Sells 887 Shares of Prudential Financial, Inc. (NYSE:PRU)

Founders Financial Alliance LLC lessened its holdings in Prudential Financial, Inc. (NYSE:PRU) by 37.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,502 shares of the financial services provider’s stock after selling 887 shares during the period. Founders Financial Alliance LLC’s holdings in Prudential Financial were worth $176,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Annex Advisory Services LLC increased its position 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 worth $289,000 after purchasing an additional 81 shares during the last quarter. Raymond James Trust N.A. increased its position in Prudential Financial by 1.1% during the second quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock valued at $951,000 after acquiring an additional 87 shares during the last quarter. Peoples Bank OH increased its position in Prudential Financial by 2.3% during the first quarter. Peoples Bank OH now owns 4,046 shares of the financial services provider’s stock valued at $475,000 after acquiring an additional 90 shares during the last quarter. Quotient Wealth Partners LLC increased its position in 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 valued at $284,000 after acquiring an additional 92 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in 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 valued at $875,000 after acquiring an additional 94 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Insider Activity

In other news, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction 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 filing with the SEC, which is accessible through this hyperlink. In other news, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction 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 filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Stock Performance

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

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS 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 firm had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. On average, equities analysts forecast that Prudential Financial, Inc. will post 13.3 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.36%. Prudential Financial’s dividend payout ratio (DPR) is currently 88.44%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PRU shares. Morgan Stanley cut their price objective on shares of 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 lowered their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, June 28th. UBS Group boosted their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Argus raised shares of Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Barclays began coverage on shares of Prudential Financial in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 target price for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial presently has an average rating of “Hold” and a consensus target price of $120.83.

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.