Crossmark Global Holdings Inc. Sells 659 Shares of Prudential Financial, Inc. (NYSE:PRU)

Crossmark Global Holdings Inc. cut its holdings in Prudential Financial, Inc. (NYSE:PRU) by 2.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 24,885 shares of the financial services provider’s stock after selling 659 shares during the period. Crossmark Global Holdings Inc.’s holdings in Prudential Financial were worth $3,014,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Creekmur Asset Management LLC grew its stake in Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares during the period. Lynx Investment Advisory bought a new position in Prudential Financial during the second quarter valued at about $29,000. Strategic Financial Concepts LLC increased its holdings 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 worth $32,000 after buying an additional 25,027 shares during the last quarter. Crewe Advisors LLC bought a new stake in Prudential Financial in the first quarter worth about $33,000. Finally, ESL Trust Services LLC purchased a new position in Prudential Financial in the first quarter valued at about $34,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Price Performance

PRU stock opened at $125.00 on Tuesday. The firm has a 50 day simple moving average of $121.48 and a two-hundred day simple moving average of $118.82. The stock has a market cap of $44.50 billion, a PE ratio of 11.11, a P/E/G ratio of 0.87 and a beta of 1.29. Prudential Financial, Inc. has a one year low of $91.07 and a one year high of $129.13. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14.

Prudential Financial (NYSE:PRU) last announced its 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. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The company had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same period in the previous year, the business earned $3.44 earnings per share. On average, analysts predict that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be given a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.16%. Prudential Financial’s payout ratio is 46.22%.

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,648,705.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related 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 owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The trade was a 0.00 % 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Argus raised shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Wells Fargo & Company boosted their target price on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Citigroup increased their price target on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Bank of America boosted their price objective on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, TD Cowen started coverage on shares of Prudential Financial in a report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and an average target price of $123.85.

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.