Solstein Capital LLC Buys 99 Shares of Prudential Financial, Inc. $PRU

Solstein Capital LLC boosted its stake in Prudential Financial, Inc. (NYSE:PRU) by 0.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,669 shares of the financial services provider’s stock after acquiring an additional 99 shares during the period. Prudential Financial accounts for about 4.7% of Solstein Capital LLC’s holdings, making the stock its 5th biggest position. Solstein Capital LLC’s holdings in Prudential Financial were worth $9,527,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Invesco Ltd. increased its position in Prudential Financial by 2.7% during the 1st quarter. Invesco Ltd. now owns 4,440,003 shares of the financial services provider’s stock worth $495,859,000 after purchasing an additional 116,079 shares during the period. Goldman Sachs Group Inc. increased its position in Prudential Financial by 19.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider’s stock worth $469,777,000 after purchasing an additional 678,028 shares during the period. Ameriprise Financial Inc. increased its position in Prudential Financial by 5.6% during the 1st quarter. Ameriprise Financial Inc. now owns 1,801,551 shares of the financial services provider’s stock worth $201,201,000 after purchasing an additional 95,021 shares during the period. Amundi increased its position in Prudential Financial by 14.1% during the 1st quarter. Amundi now owns 1,751,633 shares of the financial services provider’s stock worth $183,571,000 after purchasing an additional 216,119 shares during the period. Finally, Nordea Investment Management AB increased its position in Prudential Financial by 49.2% during the 2nd quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock worth $184,192,000 after purchasing an additional 567,571 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 stock in a transaction on Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the transaction, the executive vice president owned 21,506 shares of the company’s stock, valued at $2,358,132.90. This represents a 15.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on PRU. Weiss Ratings reiterated a “hold (c)” rating on shares of Prudential Financial in a research report on Saturday. Piper Sandler lowered their price target on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a report on Wednesday, July 16th. Barclays lowered their price target on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Wolfe Research began coverage on Prudential Financial in a report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Finally, Wall Street Zen upgraded Prudential Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $122.27.

Prudential Financial Price Performance

PRU stock opened at $102.23 on Monday. 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 quick ratio of 0.16 and a current ratio of 0.16. The stock’s 50 day moving average price is $104.68 and its 200 day moving average price is $104.27. The firm has a market cap of $35.99 billion, a P/E ratio of 22.67, a PEG ratio of 0.89 and a beta of 1.04.

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

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a yield of 5.3%. Prudential Financial’s dividend payout ratio 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.