Meeder Advisory Services Inc. Decreases Holdings in Prudential Financial, Inc. (NYSE:PRU)

Meeder Advisory Services Inc. decreased its position in Prudential Financial, Inc. (NYSE:PRU) by 2.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,746 shares of the financial services provider’s stock after selling 236 shares during the period. Meeder Advisory Services Inc.’s holdings in Prudential Financial were worth $1,144,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Cambridge Trust Co. increased its position in shares of Prudential Financial by 77.2% during the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after buying an additional 105 shares during the period. Bruce G. Allen Investments LLC purchased a new stake in Prudential Financial during the fourth quarter valued at about $26,000. Headinvest LLC purchased a new position in shares of Prudential Financial in the third quarter worth about $27,000. Arlington Trust Co LLC lifted its position in Prudential Financial by 151.6% in the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 185 shares during the last quarter. Finally, Riverview Trust Co bought a new position in shares of Prudential Financial during the first quarter valued at about $37,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total transaction of $604,933.62. Following the sale, the senior vice president now owns 12,236 shares in the company, valued at approximately $1,426,472.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Timothy L. Schmidt sold 5,189 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total value of $604,933.62. Following the sale, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of Prudential Financial stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the acquisition, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods upped their target price on Prudential Financial from $118.00 to $121.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Morgan Stanley increased their target price on Prudential Financial from $120.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. Jefferies Financial Group decreased their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a report on Friday, June 28th. Wells Fargo & Company lifted their price objective on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a report on Thursday, April 11th. Finally, Evercore ISI lifted their price target on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $116.67.

Prudential Financial Trading Up 1.3 %

PRU traded up $1.65 during trading on Tuesday, reaching $127.19. The company had a trading volume of 338,947 shares, compared to its average volume of 1,449,639. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. Prudential Financial, Inc. has a 52 week low of $87.95 and a 52 week high of $127.28. The stock has a market cap of $45.66 billion, a P/E ratio of 21.35, a PEG ratio of 0.95 and a beta of 1.34. The business has a 50 day simple moving average of $118.10 and a 200-day simple moving average of $112.20.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The business had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. During the same quarter in the previous year, the firm earned $2.66 EPS. Prudential Financial’s revenue was up 69.9% compared to the same quarter last year. On average, equities analysts anticipate that Prudential Financial, Inc. will post 13.39 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st were issued a dividend of $1.30 per share. The ex-dividend date was Monday, May 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.09%. Prudential Financial’s dividend payout ratio (DPR) is currently 88.44%.

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.