Janney Montgomery Scott LLC Decreases Holdings in Prudential Financial, Inc. $PRU

Janney Montgomery Scott LLC cut its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 8.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 146,883 shares of the financial services provider’s stock after selling 14,230 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Prudential Financial were worth $15,781,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Venture Visionary Partners LLC raised its stake in shares of Prudential Financial by 1.1% during the second quarter. Venture Visionary Partners LLC now owns 34,693 shares of the financial services provider’s stock worth $3,727,000 after acquiring an additional 384 shares in the last quarter. GC Wealth Management RIA LLC purchased a new position in shares of Prudential Financial during the second quarter worth approximately $222,000. Sound Income Strategies LLC raised its stake in shares of Prudential Financial by 7.2% during the second quarter. Sound Income Strategies LLC now owns 37,940 shares of the financial services provider’s stock worth $4,076,000 after acquiring an additional 2,532 shares in the last quarter. Hengehold Capital Management LLC raised its stake in shares of Prudential Financial by 1.5% during the second quarter. Hengehold Capital Management LLC now owns 42,445 shares of the financial services provider’s stock worth $4,560,000 after acquiring an additional 617 shares in the last quarter. Finally, LVW Advisors LLC raised its stake in shares of Prudential Financial by 36.2% during the second quarter. LVW Advisors LLC now owns 5,404 shares of the financial services provider’s stock worth $581,000 after acquiring an additional 1,436 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Prudential Financial

In other news, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the sale, the executive vice president owned 21,506 shares in the company, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

PRU has been the topic of several analyst reports. Wells Fargo & Company decreased their target price on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 16th. Wall Street Zen raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. lifted their target price on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Barclays lifted their target price on shares of Prudential Financial from $119.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Finally, Morgan Stanley lifted their target price on shares of Prudential Financial from $113.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Monday, August 18th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $122.08.

Prudential Financial Stock Down 1.1%

Shares of Prudential Financial stock opened at $101.87 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. The company’s fifty day simple moving average is $105.21 and its two-hundred day simple moving average is $104.91. The company has a market cap of $35.86 billion, a P/E ratio of 22.59, a PEG ratio of 0.91 and a beta of 1.04. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.36. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The firm had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.47 billion. During the same quarter in the previous year, the business posted $3.39 EPS. The company’s quarterly revenue was down 2.5% on a year-over-year basis. Research analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Tuesday, August 19th. Prudential Financial’s payout ratio is 119.73%.

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.