Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. trimmed its holdings in Prudential Financial, Inc. (NYSE:PRU) by 3.5% in the third quarter, Holdings Channel.com reports. The fund owned 30,718 shares of the financial services provider’s stock after selling 1,124 shares during the period. Valley Wealth Managers Inc.’s holdings in Prudential Financial were worth $3,720,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Creekmur Asset Management LLC increased its position in shares of Prudential Financial by 78.8% in the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 108 shares in the last quarter. Lynx Investment Advisory purchased a new position in Prudential Financial during the 2nd quarter worth approximately $29,000. Ashton Thomas Securities LLC acquired a new stake in Prudential Financial during the 3rd quarter valued at $31,000. Crewe Advisors LLC acquired a new stake in shares of Prudential Financial in the first quarter worth $33,000. Finally, ESL Trust Services LLC purchased a new position in shares of Prudential Financial during the first quarter valued at $34,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the business’s stock in a transaction that occurred 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 completion of the purchase, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. The trade was a 6.61 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on 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 in the company, valued at approximately $1,220,694.75. This represents 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.

Wall Street Analysts Forecast Growth

PRU has been the topic of several research analyst reports. UBS Group boosted 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. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Morgan Stanley lowered their target price on shares of 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, Bank of America increased their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Eleven research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and an average price target of $125.69.

Prudential Financial Trading Up 1.0 %

PRU traded up $1.24 during trading on Friday, reaching $126.99. 12,621 shares of the company’s stock were exchanged, compared to its average volume of 1,488,915. The firm has a market capitalization of $45.21 billion, a PE ratio of 11.30, a P/E/G ratio of 0.89 and a beta of 1.29. Prudential Financial, Inc. has a fifty-two week low of $93.32 and a fifty-two week high of $129.13. The company’s fifty day moving average price is $121.92 and its 200-day moving average price is $119.11. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14.

Prudential Financial (NYSE:PRU) last posted 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. The firm had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter in the previous year, the firm posted $3.44 EPS. As a group, equities analysts forecast that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s payout ratio is 46.22%.

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.