Prudential Financial, Inc. $PRU Position Reduced by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,597 shares of the financial services provider’s stock after selling 572 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Prudential Financial were worth $4,362,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PRU. Meeder Asset Management Inc. lifted its position in shares of Prudential Financial by 90.2% in the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 111 shares in the last quarter. Cheviot Value Management LLC purchased a new stake in shares of Prudential Financial in the first quarter valued at $26,000. North Capital Inc. purchased a new stake in Prudential Financial in the 1st quarter worth about $28,000. AlphaQuest LLC lifted 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 acquiring an additional 245 shares in the last quarter. Finally, Clearstead Trust LLC lifted 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 acquiring an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of research analyst reports. Piper Sandler reduced their price target on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a research report on Wednesday, July 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Prudential Financial in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price objective on Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Barclays dropped their target price on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a report 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’s stock. According to MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and a consensus price target of $122.27.

Insider Transactions at Prudential Financial

In other news, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.25% of the stock is owned by corporate insiders.

Prudential Financial Trading Up 0.2%

Shares of PRU stock opened at $102.05 on Thursday. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The firm’s fifty day simple moving average is $104.86 and its 200 day simple moving average is $104.11. The firm has a market capitalization of $35.92 billion, a P/E ratio of 22.63, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60.

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

Prudential Financial Dividend Announcement

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 dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 5.3%. The ex-dividend date was Tuesday, August 19th. Prudential Financial’s payout ratio is currently 119.73%.

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.