SkyOak Wealth LLC Sells 456 Shares of Prudential Financial, Inc. (NYSE:PRU)

SkyOak Wealth LLC lowered its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,345 shares of the financial services provider’s stock after selling 456 shares during the quarter. SkyOak Wealth LLC’s holdings in Prudential Financial were worth $1,212,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Prudential Financial by 13.9% in the 4th quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock worth $4,386,192,000 after buying an additional 5,154,865 shares during the last quarter. AustralianSuper Pty Ltd increased its stake in Prudential Financial by 2.8% in the 2nd quarter. AustralianSuper Pty Ltd now owns 1,237,537 shares of the financial services provider’s stock worth $145,027,000 after buying an additional 34,160 shares in the last quarter. Norges Bank purchased a new position in shares of Prudential Financial in the fourth quarter valued at about $113,478,000. Federated Hermes Inc. boosted its stake in Prudential Financial by 8.8% during the second quarter. Federated Hermes Inc. now owns 1,025,527 shares of the financial services provider’s stock valued at $120,181,000 after buying an additional 82,620 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in Prudential Financial by 0.4% in 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. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analysts Set New Price Targets

PRU has been the topic of a number of research reports. Wells Fargo & Company upgraded shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 target price on the stock in a report on Monday, August 12th. Citigroup lifted their target price on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. 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 research note on Monday, August 19th. Argus upgraded Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Barclays started coverage on Prudential Financial in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $120.83.

Prudential Financial Stock Up 0.9 %

NYSE:PRU opened at $118.75 on Wednesday. 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 stock has a market capitalization of $42.39 billion, a P/E ratio of 20.20, a P/E/G ratio of 0.90 and a beta of 1.30. The company’s 50-day simple moving average is $117.90 and its 200-day simple moving average is $116.13. Prudential Financial, Inc. has a fifty-two week low of $87.95 and a fifty-two week high of $128.52.

Prudential Financial (NYSE:PRU) last issued 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 net margin of 4.86% and a return on equity of 16.00%. The business had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. On average, equities analysts anticipate that Prudential Financial, Inc. will post 13.31 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the acquisition, the insider now directly owns 3,883,390 shares of the company’s stock, valued at approximately $107,065,062.30. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In related news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the stock in a transaction dated Thursday, June 20th. The shares were purchased at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the purchase, the insider now directly owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the business’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 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 currently owned by company insiders.

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.