Prudential Financial, Inc. $PRU Shares Sold by Truist Financial Corp

Key Points

• Truist Financial Corp reduced its stake in Prudential Financial by 8.1%, selling 25,500 shares, and now holds 291,270 shares valued at approximately $31.3 million.
• Despite recent selling from some institutional investors, Prudential Financial continues to see interest, with other investors like Brighton Jones LLC and Merit Financial Group increasing their stakes in the company.
• Prudential Financial recently declared a quarterly dividend of $1.35 per share, equating to a dividend yield of 5.3%, and has a payout ratio currently at 119.73%.

Truist Financial Corp reduced its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 8.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 291,270 shares of the financial services provider's stock after selling 25,500 shares during the quarter. Truist Financial Corp owned 0.08% of Prudential Financial worth $31,294,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in Prudential Financial by 3.7% in the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider's stock worth $436,000 after purchasing an additional 133 shares during the period. NBC Securities Inc. raised its position in shares of Prudential Financial by 116,300.0% during the 1st quarter. NBC Securities Inc. now owns 2,328 shares of the financial services provider's stock worth $260,000 after buying an additional 2,326 shares in the last quarter. Merit Financial Group LLC boosted its holdings in shares of Prudential Financial by 59.4% in the first quarter. Merit Financial Group LLC now owns 10,566 shares of the financial services provider's stock valued at $1,180,000 after acquiring an additional 3,939 shares in the last quarter. Apella Capital LLC bought a new position in shares of Prudential Financial in the first quarter valued at approximately $208,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Prudential Financial by 27.1% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,454 shares of the financial services provider's stock valued at $163,000 after acquiring an additional 310 shares during the period. Institutional investors and hedge funds own 56.83% of the company's stock.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial 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 value of $438,600.00. Following the transaction, the executive vice president owned 21,506 shares in the company, valued at $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

PRU has been the topic of several research analyst reports. Wells Fargo & Company lowered their price target on Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 16th. JPMorgan Chase & Co. lifted their target price on Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Wolfe Research began coverage on shares of Prudential Financial in a report on Tuesday, September 16th. They issued a "peer perform" rating for the company. Wall Street Zen upgraded shares of Prudential Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Morgan Stanley increased their target price on shares of Prudential Financial from $113.00 to $117.00 and gave the company an "equal weight" rating in a research note on Monday, August 18th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Prudential Financial currently has an average rating of "Hold" and an average target price of $122.08.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $101.87 on Friday. The company's fifty day moving average is $105.21 and its two-hundred day moving average is $104.91. The company has a market cap of $35.86 billion, a P/E ratio of 22.59, a price-to-earnings-growth 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. 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, beating analysts' consensus estimates of $3.22 by $0.36. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The business had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.47 billion. During the same quarter in the previous year, the company posted $3.39 earnings per share. Prudential Financial's revenue for the quarter was down 2.5% compared to the same quarter last year. Equities analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders 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 was Tuesday, August 19th. Prudential Financial's payout ratio is currently 119.73%.

Prudential Financial 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.