Prudential Financial, Inc. $PRU Shares Sold by Schnieders Capital Management LLC

Schnieders Capital Management LLC trimmed its position in Prudential Financial, Inc. (NYSE:PRU) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,276 shares of the financial services provider’s stock after selling 125 shares during the quarter. Schnieders Capital Management LLC’s holdings in Prudential Financial were worth $459,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Invesco Ltd. raised its holdings in shares of Prudential Financial by 2.7% in the 1st quarter. Invesco Ltd. now owns 4,440,003 shares of the financial services provider’s stock valued at $495,859,000 after purchasing an additional 116,079 shares in the last quarter. Goldman Sachs Group Inc. raised its stake 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 acquiring an additional 678,028 shares in the last quarter. Ameriprise Financial Inc. raised its stake 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 acquiring an additional 95,021 shares in the last quarter. Amundi boosted its stake in Prudential Financial by 14.1% in the first quarter. Amundi now owns 1,751,633 shares of the financial services provider’s stock valued at $183,571,000 after acquiring an additional 216,119 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Prudential Financial by 49.2% during the second 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 last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PRU has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Wall Street Zen upgraded Prudential Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Wolfe Research initiated coverage on Prudential Financial in a research report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Prudential Financial in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $122.27.

Prudential Financial Trading Up 0.9%

Shares of Prudential Financial stock opened at $100.76 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 company has a market capitalization of $35.47 billion, a P/E ratio of 22.34, a PEG ratio of 0.89 and a beta of 1.04. The company’s fifty day moving average is $105.06 and its two-hundred day moving average is $104.10.

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

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were issued a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 annualized dividend and a dividend yield of 5.4%. Prudential Financial’s payout ratio is presently 119.73%.

Insider Buying and Selling at Prudential Financial

In other news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the sale, the executive vice president owned 21,506 shares of the company’s stock, valued at $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is currently owned by insiders.

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.