Prudential Financial, Inc. $PRU Shares Sold by Knights of Columbus Asset Advisors LLC

Key Points

• Knights of Columbus Asset Advisors LLC reduced its holdings in Prudential Financial by 18.4% during the second quarter, selling 12,444 shares and now owning 55,076 shares valued at approximately $5.9 million.
• Prudential Financial reported $3.58 earnings per share for the last quarter, surpassing expectations, with revenue of $13.50 billion, although this reflects a 2.5% year-over-year decline.
• The company recently announced a quarterly dividend of $1.35 per share, representing a 5.2% yield, with a high dividend payout ratio of 119.73%.

Knights of Columbus Asset Advisors LLC lessened its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 18.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,076 shares of the financial services provider's stock after selling 12,444 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in Prudential Financial were worth $5,917,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PRU. Allspring Global Investments Holdings LLC lifted its position in shares of Prudential Financial by 3.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 20,771 shares of the financial services provider's stock valued at $2,320,000 after acquiring an additional 721 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Prudential Financial by 3.0% in the 1st quarter. Acadian Asset Management LLC now owns 109,447 shares of the financial services provider's stock valued at $12,217,000 after acquiring an additional 3,183 shares during the period. Golden State Wealth Management LLC lifted its position in Prudential Financial by 728.4% during the 1st quarter. Golden State Wealth Management LLC now owns 845 shares of the financial services provider's stock worth $94,000 after acquiring an additional 743 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Prudential Financial by 68.2% during the first quarter. HighTower Advisors LLC now owns 110,794 shares of the financial services provider's stock valued at $12,373,000 after acquiring an additional 44,937 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in shares of Prudential Financial by 9.7% in the first quarter. Exchange Traded Concepts LLC now owns 2,501 shares of the financial services provider's stock worth $279,000 after buying an additional 222 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Stock Up 2.0%

NYSE:PRU opened at $104.01 on Monday. The firm has a market capitalization of $36.61 billion, a P/E ratio of 23.06, a P/E/G ratio of 0.92 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. The stock's fifty day simple moving average is $105.19 and its 200-day simple moving average is $104.79. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60.

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

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 annualized dividend and a yield of 5.2%. Prudential Financial's dividend payout ratio (DPR) is 119.73%.

Insider Buying and Selling

In other news, EVP Ann M. Kappler sold 4,000 shares of the company's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $109.65, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PRU. Weiss Ratings reiterated a "hold (c)" rating on shares of Prudential Financial in a research report on Saturday, September 27th. Wall Street Zen upgraded shares of Prudential Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. boosted their target price on Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Wolfe Research initiated coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They issued a "peer perform" rating for the company. Finally, Barclays upped their target price on Prudential Financial from $119.00 to $120.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $122.08.

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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