Northwestern Mutual Wealth Management Co. Sells 5,038 Shares of Prudential Financial, Inc. $PRU

Northwestern Mutual Wealth Management Co. trimmed its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 9.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,211 shares of the financial services provider’s stock after selling 5,038 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Prudential Financial were worth $5,096,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PRU. Jessup Wealth Management Inc bought a new stake in shares of Prudential Financial in the fourth quarter worth about $25,000. Garton & Associates Financial Advisors LLC bought a new position in Prudential Financial during the 4th quarter valued at approximately $26,000. SJS Investment Consulting Inc. lifted its holdings in Prudential Financial by 93.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock worth $27,000 after buying an additional 134 shares during the period. Coston McIsaac & Partners grew its position in shares of Prudential Financial by 93.4% in the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after buying an additional 128 shares during the last quarter. Finally, Basepoint Wealth LLC bought a new stake in shares of Prudential Financial in the 4th quarter worth approximately $30,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Price Performance

Shares of PRU stock opened at $121.21 on Monday. The business’s fifty day moving average is $116.66 and its 200 day moving average is $105.67. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.62. The stock has a market cap of $41.82 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 2.29 and a beta of 0.84. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $127.72.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.52 by $0.56. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.The business had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.36 billion. During the same quarter last year, the firm posted $3.58 earnings per share. Research analysts expect that Prudential Financial, Inc. will post 14.24 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $5.60 annualized dividend and a yield of 4.6%. Prudential Financial’s payout ratio is presently 50.72%.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of Prudential Financial stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the completion of the transaction, the insider directly owned 7,973,657 shares in the company, valued at approximately $197,348,010.75. This trade represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann M. Kappler sold 7,652 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $125.01, for a total value of $956,576.52. Following the completion of the sale, the executive vice president directly owned 14,407 shares in the company, valued at approximately $1,801,019.07. This represents a 34.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price target on Prudential Financial from $103.00 to $110.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 19th. Mizuho upped their price objective on shares of Prudential Financial from $101.00 to $109.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. TD Cowen raised their target price on shares of Prudential Financial from $102.00 to $114.00 and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. Zacks Research raised shares of Prudential Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, June 12th. Finally, Argus cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, June 9th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, Prudential Financial currently has a consensus rating of “Reduce” and an average price target of $108.31.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.