Prudential Financial, Inc. $PRU Shares Sold by Praxis Investment Management Inc.

Key Points

• Praxis Investment Management Inc. reduced its stake in Prudential Financial, Inc. by 16.8%, owning 13,740 shares after selling 2,780 shares in the 2nd quarter.
• Prudential Financial recently declared a quarterly dividend of $1.35 per share, resulting in an annualized dividend yield of 5.4%.
• Several analysts recently updated their ratings for Prudential Financial, with a consensus rating of "Hold" and a price target of $122.27.

Praxis Investment Management Inc. reduced its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 16.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,740 shares of the financial services provider's stock after selling 2,780 shares during the quarter. Praxis Investment Management Inc.'s holdings in Prudential Financial were worth $1,476,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Meeder Asset Management Inc. raised its stake 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 worth $26,000 after purchasing an additional 111 shares during the last quarter. Cheviot Value Management LLC purchased a new stake in shares of Prudential Financial during the first quarter worth approximately $26,000. North Capital Inc. purchased a new stake in shares of Prudential Financial during the first quarter worth approximately $28,000. AlphaQuest LLC raised its stake 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 worth $28,000 after purchasing an additional 245 shares during the last quarter. Finally, Clearstead Trust LLC raised its stake 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 worth $30,000 after purchasing an additional 207 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Trading Down 3.2%

Shares of PRU stock opened at $99.78 on Friday. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The stock has a market cap of $35.12 billion, a P/E ratio of 22.12, a P/E/G ratio of 0.91 and a beta of 1.04. The business has a fifty day simple moving average of $105.11 and a 200-day simple moving average of $104.24. 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 announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share 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 forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were given a $1.35 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.4%. Prudential Financial's dividend payout ratio (DPR) is currently 119.73%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PRU. Wall Street Zen upgraded Prudential Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Wolfe Research initiated coverage on Prudential Financial in a research note on Tuesday, September 16th. They set a "peer perform" rating for the company. JPMorgan Chase & Co. increased their price objective on Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Barclays cut their price objective on Prudential Financial from $120.00 to $117.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company cut their price objective on Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $122.27.

Insider Buying and Selling at Prudential Financial

In other news, EVP Ann M. Kappler sold 4,000 shares of the firm's stock in a transaction 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 in the company, valued at $2,358,132.90. This trade represents a 15.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

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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