Apollon Wealth Management LLC Sells 968 Shares of Prudential Financial, Inc. (NYSE:PRU)

Apollon Wealth Management LLC reduced its position in Prudential Financial, Inc. (NYSE:PRU) by 6.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,965 shares of the financial services provider’s stock after selling 968 shares during the quarter. Apollon Wealth Management LLC’s holdings in Prudential Financial were worth $1,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Legal & General Group Plc boosted its position in shares of Prudential Financial by 9.4% in the 2nd quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock worth $415,134,000 after purchasing an additional 305,143 shares in the last quarter. abrdn plc raised its holdings in Prudential Financial by 4.0% in the 3rd quarter. abrdn plc now owns 1,309,155 shares of the financial services provider’s stock worth $158,120,000 after purchasing an additional 50,026 shares during the period. International Assets Investment Management LLC raised its stake in shares of Prudential Financial by 4,130.8% during the third quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock valued at $157,219,000 after acquiring an additional 1,267,571 shares in the last quarter. AustralianSuper Pty Ltd raised its stake in Prudential Financial by 2.3% in the third quarter. AustralianSuper Pty Ltd now owns 1,265,996 shares of the financial services provider’s stock worth $153,312,000 after buying an additional 28,459 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in Prudential Financial by 8.8% in the second quarter. Federated Hermes Inc. now owns 1,025,527 shares of the financial services provider’s stock worth $120,181,000 after buying an additional 82,620 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prudential Financial

In other news, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at $1,648,705.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction on 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 owns 14,535 shares in the company, valued at $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Caroline Feeney sold 1,110 shares of the company’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 completion of the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports 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 increased their price objective on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. UBS Group increased their price objective 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. Piper Sandler raised their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen started coverage on shares of Prudential Financial in a report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 price objective on the stock. 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 company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $123.85.

Prudential Financial Price Performance

Shares of PRU opened at $125.27 on Thursday. The stock has a market capitalization of $44.60 billion, a P/E ratio of 11.14, a P/E/G ratio of 0.89 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 twelve month low of $92.57 and a twelve month high of $129.13. The company has a 50 day moving average of $121.65 and a 200-day moving average of $119.02.

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

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

About Prudential Financial

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.