Orca Investment Management LLC Sells 1,205 Shares of Prudential Financial, Inc. (NYSE:PRU)

Orca Investment Management LLC trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,597 shares of the financial services provider’s stock after selling 1,205 shares during the period. Prudential Financial makes up about 3.0% of Orca Investment Management LLC’s holdings, making the stock its 8th biggest position. Orca Investment Management LLC’s holdings in Prudential Financial were worth $3,342,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Prudential Financial by 13.9% during the fourth quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock valued at $4,386,192,000 after buying an additional 5,154,865 shares during the period. Legal & General Group Plc raised its position in Prudential Financial by 9.4% during the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock valued at $415,134,000 after buying an additional 305,143 shares during the period. AustralianSuper Pty Ltd raised its position in Prudential Financial by 2.8% during the second quarter. AustralianSuper Pty Ltd now owns 1,237,537 shares of the financial services provider’s stock valued at $145,027,000 after buying an additional 34,160 shares during the period. Federated Hermes Inc. raised its position in Prudential Financial by 8.8% during the second quarter. Federated Hermes Inc. now owns 1,025,527 shares of the financial services provider’s stock valued at $120,181,000 after buying an additional 82,620 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Prudential Financial by 7.2% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 926,641 shares of the financial services provider’s stock valued at $108,788,000 after buying an additional 62,578 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

PRU opened at $123.72 on Monday. The company has a market cap of $44.42 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 0.97 and a beta of 1.30. The stock has a 50-day moving average of $116.93 and a 200-day moving average of $117.15. Prudential Financial, Inc. has a 52-week low of $87.95 and a 52-week high of $128.52. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13.

Prudential Financial (NYSE:PRU) last announced its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. As a group, equities research analysts forecast that Prudential Financial, Inc. will post 13.28 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 annualized dividend and a yield of 4.20%. Prudential Financial’s payout ratio is 88.44%.

Insider Activity at Prudential Financial

In related news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the sale, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PRU shares. Citigroup upped their target price on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 target price on shares of Prudential Financial in a research report on Wednesday, August 21st. JPMorgan Chase & Co. upped their target price on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Morgan Stanley dropped their target price on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Finally, Barclays started coverage on Prudential Financial in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 target price on the stock. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Prudential Financial has an average rating of “Hold” and a consensus target price 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.