Prudential Financial, Inc. (NYSE:PRU) Holdings Cut by Raymond James Trust N.A.

Raymond James Trust N.A. decreased its stake in Prudential Financial, Inc. (NYSE:PRU) by 2.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,896 shares of the financial services provider’s stock after selling 221 shares during the quarter. Raymond James Trust N.A.’s holdings in Prudential Financial were worth $956,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its position in Prudential Financial by 4.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider’s stock worth $19,701,000 after buying an additional 6,641 shares in the last quarter. ORG Partners LLC purchased a new stake in Prudential Financial in the 2nd quarter worth approximately $156,000. PGGM Investments lifted its position in Prudential Financial by 98.0% in the 2nd quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock worth $7,533,000 after buying an additional 31,807 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Prudential Financial by 49.5% during the 1st quarter. Janus Henderson Group PLC now owns 80,148 shares of the financial services provider’s stock valued at $9,409,000 after purchasing an additional 26,520 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C bought a new position in shares of Prudential Financial during the 2nd quarter valued at $530,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of Prudential Financial stock in a transaction dated Tuesday, October 8th. The stock was bought at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the acquisition, the insider now owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. The trade was a 6.61 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction 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. The trade was a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PRU. Wells Fargo & Company raised their price target on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. UBS Group raised their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Morgan Stanley cut their price target on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $121.00 target price on shares of Prudential Financial in a research note on Wednesday, August 21st. Finally, Bank of America raised their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Eleven research analysts have rated the stock with 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 stock currently has an average rating of “Hold” and a consensus price target of $125.69.

Prudential Financial Stock Performance

NYSE PRU opened at $127.89 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a market capitalization of $45.53 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 0.90 and a beta of 1.29. The company’s fifty day moving average is $123.30 and its two-hundred day moving average is $119.74. Prudential Financial, Inc. has a 52-week low of $94.92 and a 52-week high of $129.13.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.01. The company had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same period last year, the business posted $3.44 EPS. Equities research analysts forecast that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s payout ratio is 46.22%.

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.