XTX Topco Ltd Sells 3,254 Shares of Prudential Financial, Inc. (NYSE:PRU)

XTX Topco Ltd decreased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 37.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,337 shares of the financial services provider’s stock after selling 3,254 shares during the period. XTX Topco Ltd’s holdings in Prudential Financial were worth $625,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PRU. Vanguard Group Inc. lifted its position in Prudential Financial by 13.9% during the 4th quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock valued at $4,386,192,000 after acquiring an additional 5,154,865 shares during the period. AustralianSuper Pty Ltd increased its position in Prudential Financial by 2.8% during the second quarter. AustralianSuper Pty Ltd now owns 1,237,537 shares of the financial services provider’s stock valued at $145,027,000 after acquiring an additional 34,160 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Prudential Financial by 8.8% in the 2nd quarter. Federated Hermes Inc. now owns 1,025,527 shares of the financial services provider’s stock worth $120,181,000 after purchasing an additional 82,620 shares during the period. Stifel Financial Corp boosted its stake in shares of Prudential Financial by 0.4% during the 4th quarter. Stifel Financial Corp now owns 1,003,558 shares of the financial services provider’s stock worth $104,080,000 after acquiring an additional 4,006 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Prudential Financial by 7.2% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 926,641 shares of the financial services provider’s stock valued at $108,788,000 after purchasing an additional 62,578 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Insiders Place Their Bets

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

Prudential Financial Stock Performance

Shares of PRU stock opened at $120.79 on Tuesday. Prudential Financial, Inc. has a 52-week low of $87.95 and a 52-week high of $128.52. The company’s 50 day moving average is $117.73 and its 200 day moving average is $116.46. The firm has a market cap of $43.36 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 0.91 and a beta of 1.30. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65.

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

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s payout ratio is currently 88.44%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. UBS Group upped their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a research note on Wednesday, August 21st. Argus raised shares of Prudential Financial to a “strong-buy” rating in a report 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 objective for the company in a research note on Monday, August 12th. Finally, Jefferies Financial Group dropped their target price 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 investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.