Buck Wealth Strategies LLC Sells 46,715 Shares of Prudential Financial, Inc. (NYSE:PRU)

Buck Wealth Strategies LLC decreased its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 88.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,846 shares of the financial services provider’s stock after selling 46,715 shares during the quarter. Buck Wealth Strategies LLC’s holdings in Prudential Financial were worth $685,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position 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 acquiring an additional 5,154,865 shares during the period. Legal & General Group Plc lifted its holdings in Prudential Financial by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock valued at $415,134,000 after purchasing an additional 305,143 shares during the last quarter. AustralianSuper Pty Ltd grew its stake 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 worth $145,027,000 after buying an additional 34,160 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Prudential Financial by 8.8% in the second quarter. Federated Hermes Inc. now owns 1,025,527 shares of the financial services provider’s stock valued at $120,181,000 after acquiring an additional 82,620 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Prudential Financial by 7.2% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 926,641 shares of the financial services provider’s stock worth $108,788,000 after acquiring an additional 62,578 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Trading Up 0.2 %

NYSE PRU opened at $120.81 on Friday. 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 current ratio of 0.13 and a quick ratio of 0.13. The firm has a market cap of $43.13 billion, a P/E ratio of 20.55, a P/E/G ratio of 0.95 and a beta of 1.30. The stock’s 50-day moving average is $117.29 and its 200-day moving average is $116.67.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $13.78 billion. Sell-side analysts anticipate that Prudential Financial, Inc. will post 13.3 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were given 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 4.30%. Prudential Financial’s dividend payout ratio is currently 88.44%.

Insider Activity at Prudential Financial

In other news, EVP Ann M. Kappler sold 2,839 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the sale, the executive vice president now owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the company’s 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 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. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. JPMorgan Chase & Co. boosted their price objective on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. UBS Group raised their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Citigroup increased their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a report on Wednesday, August 21st. Finally, 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 report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Prudential Financial 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.