Atria Wealth Solutions Inc. Has $2.42 Million Position in Prudential Financial, Inc. $PRU

Key Points

• Atria Wealth Solutions Inc. reduced its position in Prudential Financial, Inc. by 53.1%, holding 22,342 shares valued at approximately $2.42 million as of the latest SEC filing.
• Multiple institutional investors increased their stakes in Prudential Financial, with notable boosts including a 90.2% increase from Meeder Asset Management and a 12,250.0% increase from AlphaQuest LLC.
• Prudential Financial recently announced a quarterly dividend of $1.35 per share, resulting in an annualized dividend yield of 5.2%, despite a payout ratio of 119.73%.

Atria Wealth Solutions Inc. lowered its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 53.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,342 shares of the financial services provider's stock after selling 25,317 shares during the period. Atria Wealth Solutions Inc.'s holdings in Prudential Financial were worth $2,421,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. lifted its holdings in shares of Prudential Financial by 90.2% during the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 111 shares during the period. Cheviot Value Management LLC bought a new position in shares of Prudential Financial during the first quarter valued at $26,000. North Capital Inc. bought a new position in shares of Prudential Financial during the first quarter valued at $28,000. AlphaQuest LLC lifted its holdings in shares of Prudential Financial by 12,250.0% during the first quarter. AlphaQuest LLC now owns 247 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 245 shares during the period. Finally, Clearstead Trust LLC lifted its holdings in shares of Prudential Financial by 350.8% during the first quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 207 shares during the period. 56.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PRU. Wolfe Research started coverage on Prudential Financial in a report on Tuesday, September 16th. They set a "peer perform" rating for the company. Morgan Stanley lifted their price target on Prudential Financial from $117.00 to $118.00 and gave the company an "equal weight" rating in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Prudential Financial in a report on Wednesday, October 8th. Wells Fargo & Company cut their price target on Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating for the company in a report on Wednesday, July 16th. Finally, Piper Sandler cut their price target on Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $122.27.

Insider Activity

In other news, EVP Ann M. Kappler sold 4,000 shares of the business's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the transaction, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.25% of the company's stock.

Prudential Financial Price Performance

Shares of PRU stock opened at $103.13 on Thursday. The stock has a 50-day moving average price of $105.13 and a 200 day moving average price of $104.32. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. The firm has a market cap of $36.30 billion, a price-to-earnings ratio of 22.87, a PEG ratio of 0.91 and a beta of 1.04. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. The company had revenue of $8.35 billion during the quarter. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%. Research analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Tuesday, August 19th. Prudential Financial's payout ratio is presently 119.73%.

About Prudential Financial

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.

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