Americana Partners LLC Decreases Position in Prudential Financial, Inc. (NYSE:PRU)

Americana Partners LLC cut its holdings in Prudential Financial, Inc. (NYSE:PRU) by 3.3% during the 3rd quarter, Holdings Channel reports. The firm owned 21,179 shares of the financial services provider’s stock after selling 714 shares during the period. Americana Partners LLC’s holdings in Prudential Financial were worth $2,565,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Creekmur Asset Management LLC boosted its stake in shares of Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 108 shares during the last quarter. Lynx Investment Advisory purchased a new stake in shares of Prudential Financial during the second quarter worth about $29,000. Strategic Financial Concepts LLC raised its position in shares of Prudential Financial by 1,312.4% in the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after buying an additional 25,027 shares during the last quarter. Crewe Advisors LLC acquired a new stake in Prudential Financial during the first quarter worth approximately $33,000. Finally, ESL Trust Services LLC purchased a new stake in Prudential Financial in the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PRU shares. Argus raised Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Piper Sandler raised their price target on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. TD Cowen initiated coverage on shares of Prudential Financial in a research note on Wednesday, October 9th. They set a “hold” rating and a $130.00 price objective for the company. UBS Group raised their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Finally, Bank of America increased their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $123.77.

Prudential Financial Trading Down 1.0 %

NYSE:PRU opened at $121.28 on Friday. Prudential Financial, Inc. has a 12 month low of $89.90 and a 12 month high of $128.52. The business’s 50-day moving average is $121.10 and its two-hundred day moving average is $118.25. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market capitalization of $43.30 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 0.97 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a return on equity of 15.66% and a net margin of 6.03%. The firm had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period in the previous year, the company posted $3.44 EPS. Research analysts predict that Prudential Financial, Inc. will post 13.3 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s payout ratio is 46.22%.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the stock in a transaction dated Tuesday, October 8th. The stock was bought at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now directly owns 14,535 shares in the company, valued at $1,648,705.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was 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 directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is currently 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.