Buck Wealth Strategies LLC Sells 46,715 Shares of Prudential Financial, Inc. (NYSE:PRU)

Buck Wealth Strategies LLC lessened its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 88.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,846 shares of the financial services provider’s stock after selling 46,715 shares during the quarter. Buck Wealth Strategies LLC’s holdings in Prudential Financial were worth $685,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Creekmur Asset Management LLC lifted its stake 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 valued at $29,000 after acquiring an additional 108 shares during the period. Lynx Investment Advisory purchased a new stake in shares of Prudential Financial during the 2nd quarter worth about $29,000. Strategic Financial Concepts LLC increased its stake in shares of Prudential Financial by 1,312.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 25,027 shares in the last quarter. Crewe Advisors LLC purchased a new position in Prudential Financial during the first quarter worth approximately $33,000. Finally, ESL Trust Services LLC acquired a new stake in Prudential Financial in the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insiders Place Their Bets

In other Prudential Financial 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 transaction 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 Securities & Exchange Commission, which is available at this link. In related news, EVP Caroline Feeney sold 1,110 shares of the business’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 transaction of $133,166.70. Following the completion of the transaction, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial 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 sale, the executive vice president now directly owns 14,535 shares in the company, valued at approximately $1,648,705.05. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Prudential Financial Price Performance

Prudential Financial stock opened at $120.81 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market capitalization of $43.13 billion, a P/E ratio of 20.55, a P/E/G ratio of 0.95 and a beta of 1.30. The firm’s 50-day moving average is $117.29 and its two-hundred day moving average is $116.67. Prudential Financial, Inc. has a 12-month low of $87.95 and a 12-month high of $128.52.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results 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). The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. Equities analysts predict that Prudential Financial, Inc. will post 13.3 earnings per share for the current year.

Prudential Financial Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Barclays began coverage on shares of Prudential Financial in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 target price for the company. Wells Fargo & Company raised 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. Argus upgraded Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. UBS Group upped their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Finally, Jefferies Financial Group cut their price target on Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus 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.