Cary Street Partners Asset Management LLC Sells 4,219 Shares of Prudential Financial, Inc. (NYSE:PRU)

Cary Street Partners Asset Management LLC trimmed its position in Prudential Financial, Inc. (NYSE:PRU) by 18.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,735 shares of the financial services provider’s stock after selling 4,219 shares during the period. Cary Street Partners Asset Management LLC’s holdings in Prudential Financial were worth $2,269,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PRU. Creekmur Asset Management LLC grew its position in Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after buying an additional 108 shares in the last quarter. Lynx Investment Advisory bought a new position in shares of Prudential Financial in the second quarter worth approximately $29,000. Strategic Financial Concepts LLC lifted its position in Prudential Financial by 1,312.4% during the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 25,027 shares during the last quarter. Crewe Advisors LLC purchased a new position in Prudential Financial in the 1st quarter worth approximately $33,000. Finally, ESL Trust Services LLC bought a new position in shares of Prudential Financial in the 1st quarter worth $34,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were acquired at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the transaction, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of Prudential Financial stock in a transaction that occurred on Tuesday, October 8th. The shares were bought at an average cost 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 in the company, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now directly 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. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PRU. Piper Sandler increased their target price on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Barclays raised their price objective on Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a report on Friday. Morgan Stanley cut their target price on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. UBS Group lifted their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Finally, Wells Fargo & Company increased their target price on shares of Prudential Financial from $113.00 to $116.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $123.77.

Prudential Financial Price Performance

Shares of PRU stock opened at $120.66 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a market cap of $42.95 billion, a P/E ratio of 10.73, a P/E/G ratio of 0.86 and a beta of 1.29. The business’s 50 day moving average price is $121.16 and its 200-day moving average price is $118.49. Prudential Financial, Inc. has a fifty-two week low of $89.90 and a fifty-two week high of $128.52.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The business had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same period in the previous year, the firm earned $3.44 EPS. On average, equities research analysts anticipate that Prudential Financial, Inc. will post 13.32 earnings per share for the current year.

About Prudential Financial

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.