Wilmington Savings Fund Society FSB Trims Position in Prudential Financial, Inc. $PRU

Key Points

• Wilmington Savings Fund Society FSB reduced its stake in Prudential Financial, Inc. by 4.9% in the second quarter, totaling 59,520 shares valued at approximately $6.4 million.
• Analysts have mixed views on Prudential Financial, with price targets ranging from $108 to $136, and a consensus rating of "Hold."
• Prudential Financial announced a quarterly dividend of $1.35, providing an annualized yield of 5.2%, although its dividend payout ratio is notably high at 119.73%.

Wilmington Savings Fund Society FSB trimmed its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 4.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,520 shares of the financial services provider's stock after selling 3,051 shares during the period. Wilmington Savings Fund Society FSB's holdings in Prudential Financial were worth $6,395,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PRU. Alpine Woods Capital Investors LLC bought a new position in Prudential Financial in the 2nd quarter worth $1,870,000. Cornerstone Wealth Group LLC boosted its holdings in shares of Prudential Financial by 2.9% during the 2nd quarter. Cornerstone Wealth Group LLC now owns 69,061 shares of the financial services provider's stock valued at $7,420,000 after purchasing an additional 1,929 shares during the last quarter. Hudson Capital Management LLC raised its position in shares of Prudential Financial by 0.5% during the 2nd quarter. Hudson Capital Management LLC now owns 40,939 shares of the financial services provider's stock valued at $4,398,000 after buying an additional 211 shares in the last quarter. Community Bank N.A. raised its position in shares of Prudential Financial by 163.3% during the 2nd quarter. Community Bank N.A. now owns 566 shares of the financial services provider's stock valued at $61,000 after buying an additional 351 shares in the last quarter. Finally, NorthRock Partners LLC raised its position in shares of Prudential Financial by 22.5% during the 2nd quarter. NorthRock Partners LLC now owns 6,422 shares of the financial services provider's stock valued at $690,000 after buying an additional 1,180 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on PRU. Morgan Stanley increased their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 7th. Barclays reduced their target price on shares of Prudential Financial from $120.00 to $117.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 8th. Wall Street Zen upgraded Prudential Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. upped 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. Finally, Piper Sandler cut their price target on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $122.27.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction on Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the transaction, the executive vice president directly owned 21,506 shares of the company's stock, valued at $2,358,132.90. This trade represents a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company's stock.

Prudential Financial Trading Up 2.4%

NYSE PRU opened at $103.68 on Wednesday. The company has a market capitalization of $36.50 billion, a PE ratio of 22.99, a P/E/G ratio of 0.90 and a beta of 1.04. The company has a fifty day moving average of $105.15 and a 200 day moving average of $104.33. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. The company had revenue of $8.35 billion during the quarter. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. Research analysts forecast 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. Shareholders of record on Tuesday, August 19th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Tuesday, August 19th. Prudential Financial's dividend payout ratio (DPR) is presently 119.73%.

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.

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