CreativeOne Wealth LLC Sells 4,243 Shares of Prudential Financial, Inc. $PRU

Key Points

• CreativeOne Wealth LLC has reduced its stake in Prudential Financial, selling 4,243 shares and now holds 15,595 shares worth approximately $1.74 million.
• Insider purchases included a significant acquisition by major shareholder Insurance Co Of Ame Prudential, which bought 1,675,978 shares, increasing its ownership by 112.29%.
• Prudential Financial's quarterly earnings surpassed expectations, reporting $3.58 EPS on revenue of $13.50 billion, though revenue was down 2.5% year-over-year.

CreativeOne Wealth LLC trimmed its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 21.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,595 shares of the financial services provider's stock after selling 4,243 shares during the period. CreativeOne Wealth LLC's holdings in Prudential Financial were worth $1,742,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in PRU. Meeder Asset Management Inc. increased its position in Prudential Financial by 90.2% in the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider's stock worth $26,000 after buying an additional 111 shares during the period. Cheviot Value Management LLC bought a new position in Prudential Financial in the 1st quarter worth approximately $26,000. North Capital Inc. bought a new position in Prudential Financial in the 1st quarter worth approximately $28,000. AlphaQuest LLC increased its position in Prudential Financial by 12,250.0% in the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider's stock worth $28,000 after buying an additional 245 shares during the period. Finally, Opal Wealth Advisors LLC bought a new position in Prudential Financial in the 1st quarter worth approximately $30,000. 56.83% of the stock is owned by institutional investors.

Prudential Financial Price Performance

PRU stock traded up $1.04 during trading on Friday, hitting $109.78. The company had a trading volume of 1,449,925 shares, compared to its average volume of 1,609,997. The company has a fifty day moving average price of $105.73 and a two-hundred day moving average price of $105.74. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. The company has a market cap of $38.64 billion, a P/E ratio of 24.34, a P/E/G ratio of 0.98 and a beta of 1.07. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, beating the consensus estimate of $3.22 by $0.36. The business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.47 billion. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.Prudential Financial's quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.39 EPS. Equities research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a yield of 4.9%. Prudential Financial's payout ratio is currently 119.73%.

Analyst Ratings Changes

Several brokerages have commented on PRU. UBS Group dropped their price target on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th. Keefe, Bruyette & Woods dropped their price target on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 7th. JPMorgan Chase & Co. lifted their price objective on Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Piper Sandler decreased their price objective on Prudential Financial from $109.00 to $108.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. Finally, Wells Fargo & Company decreased their price objective on Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 16th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $122.08.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of Prudential Financial stock in a transaction on Monday, June 16th. The shares were bought at an average price of $28.64 per share, with a total value of $48,000,009.92. Following the completion of the purchase, the insider owned 3,168,461 shares in the company, valued at $90,744,723.04. This trade represents a 112.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.25% of the company's stock.

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.