Axxcess Wealth Management LLC Has $831,000 Holdings in Prudential Financial, Inc. (NYSE:PRU)

Axxcess Wealth Management LLC decreased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 25.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,092 shares of the financial services provider’s stock after selling 2,458 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Prudential Financial were worth $831,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Creekmur Asset Management LLC grew its holdings in Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 108 shares during the period. Lynx Investment Advisory acquired a new stake in shares of Prudential Financial during the second quarter worth $29,000. Crewe Advisors LLC bought a new stake in Prudential Financial in the first quarter valued at about $33,000. ESL Trust Services LLC bought a new position in Prudential Financial during the first quarter worth about $34,000. Finally, Riverview Trust Co acquired a new position in shares of Prudential Financial during the 1st quarter worth about $37,000. 56.83% of the stock is owned by institutional investors.

Insider Transactions at Prudential Financial

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

Prudential Financial Price Performance

NYSE:PRU opened at $121.81 on Friday. The stock’s 50-day simple moving average is $117.87 and its 200 day simple moving average is $116.19. Prudential Financial, Inc. has a 52-week low of $87.95 and a 52-week high of $128.52. 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 market cap of $43.49 billion, a P/E ratio of 20.72, a P/E/G ratio of 0.90 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. As a group, sell-side analysts forecast that Prudential Financial, Inc. will post 13.31 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were paid a $1.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 annualized dividend and a yield of 4.27%. Prudential Financial’s dividend payout ratio is 88.44%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PRU shares. Argus raised shares of Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. 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 report on Monday, August 12th. Morgan Stanley reduced their target price on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Barclays began coverage on Prudential Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Prudential Financial presently has an average rating of “Hold” and an average price target of $120.83.

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.