Members Trust Co Acquires New Shares in Prudential Financial, Inc. $PRU

Key Points

• Members Trust Co has acquired 3,739 shares of Prudential Financial, valued at approximately $402,000, during the 2nd quarter, indicating institutional interest in the company.
• Insider activity is notable as Ann M. Kappler, EVP, sold 4,000 shares worth $438,600, reducing her ownership by 15.68%.
• Price targets for Prudential Financial have been set, with analysts rating it mostly as a "Hold" and a consensus price target of $122.27.

Members Trust Co acquired a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,739 shares of the financial services provider's stock, valued at approximately $402,000.

Other hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its stake in Prudential Financial by 90.2% during the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider's stock valued at $26,000 after buying an additional 111 shares during the last quarter. AlphaQuest LLC raised its stake in Prudential Financial by 12,250.0% during the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider's stock valued at $28,000 after buying an additional 245 shares during the last quarter. North Capital Inc. purchased a new stake in Prudential Financial during the 1st quarter valued at $28,000. Cheviot Value Management LLC purchased a new stake in Prudential Financial during the 1st quarter valued at $26,000. Finally, Clearstead Trust LLC raised its stake in Prudential Financial by 350.8% during the 1st quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider's stock valued at $30,000 after buying an additional 207 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction dated Friday, August 29th. The shares were 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 owned 21,506 shares of the company's stock, valued at $2,358,132.90. This represents a 15.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PRU shares. Wall Street Zen upgraded shares of Prudential Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Morgan Stanley upped their price objective on Prudential Financial from $117.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 7th. Wells Fargo & Company reduced their price objective on Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 16th. Barclays reduced their price objective on Prudential Financial from $120.00 to $117.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 8th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Prudential Financial in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $122.27.

Prudential Financial Trading Up 0.4%

Shares of PRU stock opened at $101.92 on Wednesday. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market capitalization of $35.87 billion, a PE ratio of 22.60, a PEG ratio of 0.90 and a beta of 1.04. The stock has a fifty day simple moving average of $104.96 and a two-hundred day simple moving average of $104.12.

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

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Prudential Financial's dividend payout ratio is 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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