Mn Services Vermogensbeheer B.V. Trims Position in Prudential Financial, Inc. (NYSE:PRU)

Mn Services Vermogensbeheer B.V. decreased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 2.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 141,792 shares of the financial services provider’s stock after selling 4,100 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Prudential Financial were worth $16,617,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. LRI Investments LLC lifted its position in shares of Prudential Financial by 79.5% in the 2nd quarter. LRI Investments LLC now owns 736 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 326 shares during the period. Family Firm Inc. purchased a new stake in Prudential Financial in the second quarter worth about $54,000. Quotient Wealth Partners LLC boosted its position in Prudential Financial by 3.9% during the 2nd quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock valued at $284,000 after acquiring an additional 92 shares in the last quarter. Everhart Financial Group Inc. raised its position in shares of Prudential Financial by 46.5% in the 2nd quarter. Everhart Financial Group Inc. now owns 3,955 shares of the financial services provider’s stock worth $463,000 after acquiring an additional 1,256 shares in the last quarter. Finally, Cornerstone Wealth Group LLC lifted its stake in shares of Prudential Financial by 0.8% in the 2nd quarter. Cornerstone Wealth Group LLC now owns 55,625 shares of the financial services provider’s stock valued at $6,519,000 after purchasing an additional 456 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

Shares of NYSE:PRU traded up $2.17 during midday trading on Friday, reaching $117.41. 1,091,052 shares of the company’s stock traded hands, compared to its average volume of 1,505,714. Prudential Financial, Inc. has a one year low of $87.95 and a one year high of $128.52. The stock has a 50 day moving average of $117.80 and a 200 day moving average of $114.87. The company has a market cap of $42.15 billion, a price-to-earnings ratio of 19.97, a P/E/G ratio of 0.89 and a beta of 1.34. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13.

Prudential Financial (NYSE:PRU) last posted its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. As a group, equities research analysts anticipate that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date is Tuesday, August 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Piper Sandler decreased their price objective on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a research note on Wednesday. Wells Fargo & Company raised shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 target price for the company in a research note on Monday, August 12th. JPMorgan Chase & Co. boosted their price target on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Finally, Jefferies Financial Group reduced their price objective on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $119.33.

Insider Activity

In related news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were acquired at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the purchase, the insider now directly owns 3,883,390 shares of the company’s stock, valued at approximately $107,065,062.30. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Prudential Financial 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.