Allen Mooney & Barnes Investment Advisors LLC Lowers Holdings in Prudential Financial, Inc. (NYSE:PRU)

Allen Mooney & Barnes Investment Advisors LLC lowered its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,617 shares of the financial services provider’s stock after selling 2,385 shares during the quarter. Prudential Financial makes up 2.0% of Allen Mooney & Barnes Investment Advisors LLC’s portfolio, making the stock its 17th biggest holding. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Prudential Financial were worth $11,821,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Syon Capital LLC purchased a new position in shares of Prudential Financial in the fourth quarter worth $356,000. Scarborough Advisors LLC purchased a new stake in Prudential Financial in the 4th quarter worth $151,000. Wellington Management Group LLP grew its position in shares of Prudential Financial by 0.9% during the fourth quarter. Wellington Management Group LLP now owns 39,001 shares of the financial services provider’s stock valued at $4,045,000 after purchasing an additional 337 shares in the last quarter. SageView Advisory Group LLC increased its holdings in shares of Prudential Financial by 18.5% in the fourth quarter. SageView Advisory Group LLC now owns 2,939 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 459 shares during the last quarter. Finally, Trust Co. of Vermont lifted its position in shares of Prudential Financial by 28.7% in the fourth quarter. Trust Co. of Vermont now owns 1,008 shares of the financial services provider’s stock worth $105,000 after buying an additional 225 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were acquired at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the acquisition, the insider now directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction 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 in the company, valued at $1,220,694.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the transaction, the insider now owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Stock Up 1.2 %

PRU stock opened at $125.17 on Tuesday. The stock has a market capitalization of $44.94 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 0.97 and a beta of 1.30. Prudential Financial, Inc. has a 52 week low of $87.95 and a 52 week high of $128.52. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The firm has a 50 day moving average of $117.33 and a 200 day moving average of $117.21.

Prudential Financial (NYSE:PRU) last posted 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 return on equity of 16.00% and a net margin of 4.86%. The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Sell-side analysts forecast that Prudential Financial, Inc. will post 13.28 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 issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is presently 88.44%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PRU shares. TD Cowen started coverage on Prudential Financial in a report on Wednesday, October 9th. They set a “hold” rating and a $130.00 price target for the company. Wells Fargo & Company raised their target price on shares of Prudential Financial from $113.00 to $116.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Piper Sandler upped their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Finally, Jefferies Financial Group decreased their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $123.69.

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.