Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Csenge Advisory Group

Csenge Advisory Group decreased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 14.8% in the second quarter, Holdings Channel reports. The fund owned 2,134 shares of the financial services provider’s stock after selling 372 shares during the period. Csenge Advisory Group’s holdings in Prudential Financial were worth $250,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Prudential Financial by 13.9% during the 4th quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock worth $4,386,192,000 after buying an additional 5,154,865 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Prudential Financial by 10.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock worth $414,926,000 after buying an additional 388,363 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Prudential Financial by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,346,612 shares of the financial services provider’s stock worth $243,367,000 after buying an additional 72,696 shares during the last quarter. abrdn plc increased its holdings in shares of Prudential Financial by 37.5% during the 4th quarter. abrdn plc now owns 1,107,210 shares of the financial services provider’s stock worth $114,829,000 after buying an additional 302,164 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Prudential Financial during the 4th quarter worth approximately $113,478,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Performance

PRU traded up $0.32 on Friday, reaching $109.04. The company had a trading volume of 343,504 shares, compared to its average volume of 1,495,841. Prudential Financial, Inc. has a 1 year low of $87.95 and a 1 year high of $128.52. The stock has a market capitalization of $39.15 billion, a PE ratio of 18.49, a P/E/G ratio of 0.86 and a beta of 1.34. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average price of $118.62 and a 200-day moving average price of $114.16.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be given a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.77%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of Prudential Financial stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the transaction, the insider now directly owns 3,883,390 shares in the company, valued at $107,065,062.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Robert Falzon sold 130,092 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $118.57, for a total value of $15,425,008.44. Following the completion of the sale, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were purchased at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the acquisition, the insider now directly 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. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PRU has been the subject of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Prudential Financial from $120.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. Jefferies Financial Group lowered their price objective on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Evercore ISI increased their price objective on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research report on Thursday, April 25th. Wells Fargo & Company increased their price objective on shares of Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research report on Thursday, April 11th. Finally, Citigroup increased their price objective on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. 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.com, Prudential Financial presently has a consensus rating of “Hold” and a consensus price target of $118.25.

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.