KMG Fiduciary Partners LLC Has $4.32 Million Stake in Prudential Financial, Inc. (NYSE:PRU)

KMG Fiduciary Partners LLC cut its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 25.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,666 shares of the financial services provider's stock after selling 12,428 shares during the period. KMG Fiduciary Partners LLC's holdings in Prudential Financial were worth $4,319,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. OmniStar Financial Group Inc. bought a new stake in shares of Prudential Financial during the 3rd quarter worth $660,000. Aaron Wealth Advisors LLC raised its stake in Prudential Financial by 45.6% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 2,914 shares of the financial services provider's stock valued at $353,000 after purchasing an additional 912 shares during the last quarter. Sonoma Private Wealth LLC acquired a new position in shares of Prudential Financial in the 3rd quarter valued at $201,000. V Square Quantitative Management LLC lifted its holdings in shares of Prudential Financial by 21.7% during the 3rd quarter. V Square Quantitative Management LLC now owns 9,431 shares of the financial services provider's stock worth $1,142,000 after acquiring an additional 1,679 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Prudential Financial by 10.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 56,528 shares of the financial services provider's stock worth $6,846,000 after acquiring an additional 5,264 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Trading Down 0.3 %

Shares of NYSE:PRU traded down $0.42 during trading on Friday, hitting $127.40. 1,055,546 shares of the company's stock were exchanged, compared to its average volume of 1,490,606. Prudential Financial, Inc. has a 1-year low of $87.95 and a 1-year high of $128.52. The firm has a 50-day moving average price of $118.85 and a two-hundred day moving average price of $117.49. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The firm has a market cap of $45.74 billion, a P/E ratio of 21.67, a PEG ratio of 0.98 and a beta of 1.30.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Equities analysts predict that Prudential Financial, Inc. will post 13.29 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. Investors of record on Tuesday, August 20th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial's payout ratio is 88.44%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. TD Cowen assumed coverage on shares of Prudential Financial in a report on Wednesday, October 9th. They set a "hold" rating and a $130.00 price objective for the company. JPMorgan Chase & Co. increased their target price on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 2nd. Jefferies Financial Group dropped their target price on shares of Prudential Financial from $143.00 to $141.00 and set a "buy" rating for the company in a research report on Friday, June 28th. Argus upgraded shares of Prudential Financial to a "strong-buy" rating in a research report on Thursday, August 8th. Finally, Morgan Stanley dropped their target price on shares of Prudential Financial from $123.00 to $122.00 and set an "equal weight" rating for the company in a research report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $123.69.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of Prudential Financial stock in a transaction that occurred on Tuesday, October 8th. The shares were acquired at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the purchase, the insider now directly owns 4,208,549 shares of the company's stock, valued at $116,071,781.42. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the business's stock in a transaction on Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction 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 approximately $1,220,694.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

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.