Allen Mooney & Barnes Investment Advisors LLC Sells 10,711 Shares of Prudential Financial, Inc. $PRU

Key Points

• Allen Mooney & Barnes Investment Advisors cut its Prudential Financial stake by 10.2%, selling 10,711 shares and retaining 94,082 shares valued at approximately $10.15 million. Institutional investors collectively own 56.83% of PRU.
• Prudential reported quarterly earnings of $4.08 per share, beating the $3.52 consensus estimate, while revenue of about $14.15 billion fell short of expectations. The company declared a quarterly dividend of $1.40 per share, representing a 4.5% annualized yield.
• PRU shares recently traded at $123.15, near their 52-week high, but analyst sentiment remains cautious: the stock carries an average “Reduce” rating and an average price target of $109.31.

Allen Mooney & Barnes Investment Advisors LLC lowered its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 10.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 94,082 shares of the financial services provider's stock after selling 10,711 shares during the quarter. Prudential Financial accounts for 1.5% of Allen Mooney & Barnes Investment Advisors LLC's holdings, making the stock its 28th biggest holding. Allen Mooney & Barnes Investment Advisors LLC's holdings in Prudential Financial were worth $10,154,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Jessup Wealth Management Inc bought a new position in Prudential Financial during the 4th quarter valued at about $25,000. Archer Investment Corp purchased a new stake in Prudential Financial in the second quarter worth $26,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Prudential Financial during the fourth quarter worth $26,000. SJS Investment Consulting Inc. boosted its stake in shares of Prudential Financial by 93.1% during the first quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 134 shares during the period. Finally, Coston McIsaac & Partners grew its holdings in shares of Prudential Financial by 93.4% in the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider's stock worth $29,000 after purchasing an additional 128 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Trading Up 2.8%

Shares of NYSE:PRU opened at $123.15 on Friday. The business's 50-day moving average is $118.90 and its 200 day moving average is $106.72. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a 1 year low of $91.89 and a 1 year high of $127.72. The firm has a market capitalization of $42.49 billion, a P/E ratio of 11.15, a P/E/G ratio of 1.80 and a beta of 0.83.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.52 by $0.56. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.The business had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.36 billion. During the same quarter last year, the company earned $3.58 earnings per share. On average, research analysts predict that Prudential Financial, Inc. will post 14.51 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.5%. Prudential Financial's payout ratio is 50.72%.

Trending Headlines about Prudential Financial

Here are the key news stories impacting Prudential Financial this week:

• Positive Sentiment: Prudential Advisors added an experienced advisor overseeing more than $106 million in client assets. Zachary Karason joined the Mid America Financial Group after roles at U.S. Bancorp Advisors and Merrill Lynch. The move could modestly support Prudential’s wealth-management growth and advisor recruiting efforts. Prudential Advisors Welcomes Zachary Karason to Mid America Financial Group
• Neutral Sentiment: Prudential’s latest earnings were better than expected, but revenue fell short of estimates. The company reported quarterly earnings of $4.08 per share, above the $3.52 analyst consensus, while revenue of $14.16 billion trailed the $14.36 billion estimate. The earnings beat is supportive, although the revenue miss and comparisons with the prior year provide a mixed signal for investors. Prudential Down Since Last Earnings Report: Can It Rebound?
• Negative Sentiment: PRU has slightly underperformed since its earnings release. A market update noted that the stock was down 0.3% over the 30 days following its report, suggesting that the earnings beat has not yet translated into sustained momentum and that investors may be looking for stronger forward guidance or estimate revisions. Prudential Down 0.3% Since Last Earnings Report

Insider Buying and Selling at Prudential Financial

In related news, EVP Ann Kappler sold 7,652 shares of the firm's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $125.01, for a total value of $956,576.52. Following the completion of the transaction, the executive vice president owned 14,407 shares in the company, valued at $1,801,019.07. This trade represents a 34.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of Prudential Financial stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total value of $5,314,963.50. Following the sale, the insider directly owned 7,973,657 shares of the company's stock, valued at approximately $197,348,010.75. This represents a 2.62% decrease in their position. The SEC filing for this sale provides additional information. 0.05% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Prudential Financial from a "hold" rating to a "buy" rating in a report on Saturday, August 29th. Argus downgraded shares of Prudential Financial from a "buy" rating to a "hold" rating in a research note on Tuesday, June 9th. Morgan Stanley raised their target price on shares of Prudential Financial from $92.00 to $105.00 and gave the stock an "underweight" rating in a research report on Monday, August 24th. Weiss Ratings upgraded Prudential Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. Finally, Zacks Research raised Prudential Financial from a "strong sell" rating to a "hold" rating in a research note on Friday, June 12th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $109.31.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential's long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential's core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.

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