Johnson Investment Counsel Inc. Sells 528 Shares of Prudential Financial, Inc. $PRU

Johnson Investment Counsel Inc. decreased its position in Prudential Financial, Inc. (NYSE:PRU) by 6.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,314 shares of the financial services provider’s stock after selling 528 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Prudential Financial were worth $786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its position in Prudential Financial by 90.2% in the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock worth $26,000 after buying an additional 111 shares during the last quarter. AlphaQuest LLC increased its stake in Prudential Financial by 12,250.0% in the 1st 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 period. North Capital Inc. purchased a new position in Prudential Financial in the 1st quarter worth approximately $28,000. Cheviot Value Management LLC purchased a new position in Prudential Financial in the 1st quarter worth approximately $26,000. Finally, Clearstead Trust LLC increased its stake in Prudential Financial by 350.8% in the 1st 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 period. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

PRU opened at $103.68 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The stock has a market capitalization of $36.50 billion, a PE ratio of 22.99, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. The stock’s 50 day moving average price is $105.15 and its 200-day moving average price is $104.33.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The company had revenue of $8.35 billion for the quarter. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%. On average, equities research analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were paid 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 is presently 119.73%.

Insiders Place Their Bets

In related news, EVP Ann M. Kappler sold 4,000 shares of the company’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 sale, the executive vice president directly owned 21,506 shares of the company’s stock, valued at $2,358,132.90. This represents a 15.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PRU shares. JPMorgan Chase & Co. lifted their price target on Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Wolfe Research started coverage on Prudential Financial in a research note on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Wells Fargo & Company decreased their price target on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 16th. Morgan Stanley boosted their target price on Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Prudential Financial in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $122.27.

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.