Mutual of America Capital Management LLC Lowers Stake in Prudential Financial, Inc. (NYSE:PRU)

Mutual of America Capital Management LLC lessened its position in Prudential Financial, Inc. (NYSE:PRU) by 4.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,274 shares of the financial services provider’s stock after selling 2,056 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Prudential Financial were worth $5,306,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PRU. Annex Advisory Services LLC raised its holdings in shares of Prudential Financial by 3.4% during the 2nd quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock valued at $289,000 after buying an additional 81 shares in the last quarter. Raymond James Trust N.A. grew its position in Prudential Financial by 1.1% during the second quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock valued at $951,000 after acquiring an additional 87 shares during the last quarter. Peoples Bank OH raised its stake in shares of Prudential Financial by 2.3% during the first quarter. Peoples Bank OH now owns 4,046 shares of the financial services provider’s stock worth $475,000 after acquiring an additional 90 shares in the last quarter. Quotient Wealth Partners LLC lifted its holdings in shares of Prudential Financial by 3.9% in the 2nd quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock worth $284,000 after acquiring an additional 92 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of Prudential Financial by 1.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider’s stock valued at $875,000 after purchasing an additional 94 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other news, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, 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 transaction of $322,027.77. Following the transaction, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $121.36 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The company has a 50 day simple moving average of $117.83 and a two-hundred day simple moving average of $116.29. Prudential Financial, Inc. has a fifty-two week low of $87.95 and a fifty-two week high of $128.52. The company has a market capitalization of $43.57 billion, a price-to-earnings ratio of 20.64, a P/E/G ratio of 0.91 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates 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. Analysts expect that Prudential Financial, Inc. will post 13.31 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

Analysts Set New Price Targets

Several analysts have weighed in on PRU shares. Wells Fargo & Company raised shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price target for the company in a research note on Monday, August 12th. Citigroup increased their target price on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Jefferies Financial Group decreased their price target on Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. UBS Group increased their price objective on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Finally, Barclays began coverage on shares of Prudential Financial in a report on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price target for the company. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $120.83.

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.