DekaBank Deutsche Girozentrale reduced its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 6.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 115,229 shares of the financial services provider's stock after selling 8,265 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Prudential Financial were worth $13,816,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. Annex Advisory Services LLC lifted its stake in Prudential Financial by 3.4% in the 2nd quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider's stock worth $289,000 after purchasing an additional 81 shares in the last quarter. Raymond James Trust N.A. grew its holdings in Prudential Financial by 1.1% during the 2nd quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider's stock valued at $951,000 after buying an additional 87 shares in the last quarter. Peoples Bank OH increased its stake in Prudential Financial by 2.3% in the 1st quarter. Peoples Bank OH now owns 4,046 shares of the financial services provider's stock worth $475,000 after acquiring an additional 90 shares during the last quarter. Quotient Wealth Partners LLC boosted its position in shares of Prudential Financial by 3.9% during the 2nd quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider's stock valued at $284,000 after acquiring an additional 92 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in Prudential Financial by 1.3% in the first quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider's stock worth $875,000 after purchasing an additional 94 shares during the last quarter. Institutional investors own 56.83% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on PRU. UBS Group lifted their price objective 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. Argus raised Prudential Financial to a "strong-buy" rating in a research note on Thursday, August 8th. Bank of America raised their price target on Prudential Financial from $109.00 to $118.00 and gave the stock a "neutral" rating in a research report on Thursday, October 10th. Barclays initiated coverage on shares of Prudential Financial in a research report on Wednesday, September 4th. They set an "equal weight" rating and a $118.00 price objective on the stock. Finally, Citigroup lifted their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $123.69.
Get Our Latest Research Report on Prudential Financial
Prudential Financial Trading Up 1.1 %
NYSE:PRU traded up $1.40 during midday trading on Wednesday, hitting $126.67. The stock had a trading volume of 1,128,031 shares, compared to its average volume of 1,473,430. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The stock has a 50-day moving average of $120.63 and a 200 day moving average of $118.07. The company has a market capitalization of $45.22 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 0.94 and a beta of 1.30. Prudential Financial, Inc. has a one year low of $89.90 and a one year high of $128.52.
Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing the consensus estimate of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The firm had revenue of $13.84 billion for the quarter, compared to analysts' expectations of $13.78 billion. As a group, sell-side analysts forecast that Prudential Financial, Inc. will post 13.3 EPS for the current year.
Prudential Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial's dividend payout ratio (DPR) is currently 66.84%.
Insider Buying and Selling at Prudential Financial
In other news, 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 completion of the sale, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Caroline Feeney sold 1,110 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of the firm's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the sale, the executive vice president now directly owns 14,535 shares in the company, valued at approximately $1,648,705.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.
Prudential Financial Company Profile
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Free Report)
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.
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