Cowa LLC Has $921,000 Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Cowa LLC cut its position in Prudential Financial, Inc. (NYSE:PRU) by 2.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 7,860 shares of the financial services provider’s stock after selling 175 shares during the quarter. Cowa LLC’s holdings in Prudential Financial were worth $921,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blair William & Co. IL grew its holdings in shares of Prudential Financial by 148.4% during the second quarter. Blair William & Co. IL now owns 26,585 shares of the financial services provider’s stock valued at $3,116,000 after buying an additional 15,884 shares during the last quarter. Zega Financial LLC boosted its stake in Prudential Financial by 4.8% during the 2nd quarter. Zega Financial LLC now owns 2,202 shares of the financial services provider’s stock valued at $258,000 after purchasing an additional 101 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Prudential Financial by 6.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 42,379 shares of the financial services provider’s stock worth $4,964,000 after purchasing an additional 2,507 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Prudential Financial by 389.6% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 25,161 shares of the financial services provider’s stock valued at $2,949,000 after purchasing an additional 20,022 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its position in shares of Prudential Financial by 0.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 34,074 shares of the financial services provider’s stock valued at $3,993,000 after buying an additional 291 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Ann M. Kappler sold 2,839 shares of the 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 sale, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Ann M. Kappler sold 2,839 shares of the company’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 transaction of $322,027.77. Following the sale, the executive vice president now owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PRU shares. JPMorgan Chase & Co. lifted their price objective on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Barclays began coverage on shares of Prudential Financial in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 price objective for the company. Wells Fargo & Company upgraded Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 target price on the stock in a research note on Monday, August 12th. UBS Group increased their price target on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Finally, Argus upgraded Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and a consensus target price of $120.83.

Prudential Financial Trading Up 2.0 %

Shares of Prudential Financial stock opened at $121.81 on Friday. The stock has a market capitalization of $43.49 billion, a P/E ratio of 20.72, a P/E/G ratio of 0.90 and a beta of 1.30. Prudential Financial, Inc. has a 52-week low of $87.95 and a 52-week 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. The stock’s 50-day simple moving average is $117.87 and its 200 day simple moving average is $116.19.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS 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 business had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. As a group, research analysts anticipate that Prudential Financial, Inc. will post 13.31 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.27%. Prudential Financial’s payout ratio is 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.