Edgestream Partners L.P. Has $224,000 Stake in Prudential Financial, Inc. $PRU

Edgestream Partners L.P. reduced its position in Prudential Financial, Inc. (NYSE:PRU) by 91.5% during the second quarter, HoldingsChannel reports. The firm owned 2,088 shares of the financial services provider’s stock after selling 22,567 shares during the period. Edgestream Partners L.P.’s holdings in Prudential Financial were worth $224,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. AlphaQuest LLC boosted its position in Prudential Financial by 12,250.0% during the first quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 245 shares during the last quarter. AlphaCore Capital LLC acquired a new position in shares of Prudential Financial in the 2nd quarter valued at about $39,000. Stone House Investment Management LLC bought a new stake in shares of Prudential Financial during the 1st quarter valued at about $47,000. Elevation Point Wealth Partners LLC acquired a new stake in Prudential Financial during the second quarter worth approximately $51,000. Finally, 1248 Management LLC acquired a new position in Prudential Financial in the first quarter valued at approximately $53,000. Institutional investors own 56.83% of the company’s stock.

Insider Activity at Prudential Financial

In related news, Chairman Charles F. Lowrey sold 48,164 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the completion of the sale, the chairman owned 165,564 shares in the company, valued at approximately $17,779,917.96. This represents a 22.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Timothy L. Schmidt sold 8,000 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $107.69, for a total value of $861,520.00. Following the transaction, the senior vice president owned 11,535 shares in the company, valued at approximately $1,242,204.15. This trade represents a 40.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PRU. Wolfe Research assumed coverage on shares of Prudential Financial in a research report on Tuesday, September 16th. They set a “peer perform” rating for the company. Wall Street Zen raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Prudential Financial in a research note on Monday, December 1st. Evercore ISI upped their price objective on shares of Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a report on Thursday, October 30th. Finally, Barclays reduced their target price on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and a consensus target price of $119.50.

Prudential Financial Stock Performance

Shares of PRU stock opened at $111.68 on Monday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The firm has a fifty day simple moving average of $104.56 and a two-hundred day simple moving average of $104.98. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $127.82. The firm has a market capitalization of $39.09 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. The firm had revenue of $8.35 billion during the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.60%. Analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Tuesday, November 18th. Prudential Financial’s payout ratio is currently 74.18%.

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.