Meeder Advisory Services Inc. Sells 1,694 Shares of Prudential Financial, Inc. (NYSE:PRU)

Meeder Advisory Services Inc. cut its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 15.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,494 shares of the financial services provider’s stock after selling 1,694 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Prudential Financial were worth $1,150,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PRU. Intech Investment Management LLC lifted its position in Prudential Financial by 8.4% in the first quarter. Intech Investment Management LLC now owns 10,289 shares of the financial services provider’s stock worth $1,208,000 after purchasing an additional 796 shares during the period. Seven Eight Capital LP bought a new position in Prudential Financial during the first quarter worth about $300,000. UniSuper Management Pty Ltd boosted its holdings in Prudential Financial by 300.1% during the first quarter. UniSuper Management Pty Ltd now owns 13,036 shares of the financial services provider’s stock valued at $1,530,000 after purchasing an additional 9,778 shares in the last quarter. Lake Street Advisors Group LLC grew its stake in shares of Prudential Financial by 33.4% in the 1st quarter. Lake Street Advisors Group LLC now owns 3,711 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 929 shares during the period. Finally, National Bank of Canada FI raised its holdings in shares of Prudential Financial by 44.9% in the 1st quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock worth $27,327,000 after buying an additional 71,274 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Insider Activity

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was 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 directly owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The trade was a 16.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s 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 sale, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. This represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

Prudential Financial Stock Up 0.6 %

Shares of Prudential Financial stock opened at $128.17 on Tuesday. The business has a fifty day simple moving average of $122.47 and a 200 day simple moving average of $119.44. The stock has a market cap of $45.63 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 0.91 and a beta of 1.29. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 12 month low of $93.32 and a 12 month high of $129.13.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.01. The company had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period in the previous year, the company earned $3.44 EPS. Research analysts predict that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.06%. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Wall Street Analysts Forecast Growth

PRU has been the topic of a number of analyst reports. TD Cowen began coverage on Prudential Financial in a research report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 price target on the stock. Piper Sandler increased their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Morgan Stanley dropped their price objective on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Finally, Barclays increased their price target on Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Eleven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $125.69.

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.