Allen Capital Group LLC Sells 25,670 Shares of Prudential Financial, Inc. (NYSE:PRU)

Allen Capital Group LLC trimmed its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 89.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,065 shares of the financial services provider's stock after selling 25,670 shares during the period. Allen Capital Group LLC's holdings in Prudential Financial were worth $371,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Creekmur Asset Management LLC boosted its stake in Prudential Financial by 78.8% during 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 acquired a new position in Prudential Financial during the 2nd quarter valued at $29,000. Ashton Thomas Securities LLC bought a new stake in Prudential Financial in the 3rd quarter valued at $31,000. Bank & Trust Co bought a new position in shares of Prudential Financial during the 2nd quarter worth about $37,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Prudential Financial during the second quarter valued at about $38,000. Institutional investors own 56.83% of the company's stock.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the 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 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 position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction that occurred 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 $1,220,694.75. The trade was a 9.84 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Prudential Financial Price Performance

NYSE PRU traded up $1.63 on Friday, hitting $127.89. 1,117,397 shares of the company were exchanged, compared to its average volume of 1,751,253. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The company has a market cap of $45.53 billion, a P/E ratio of 11.37, a P/E/G ratio of 0.90 and a beta of 1.29. Prudential Financial, Inc. has a 1-year low of $94.92 and a 1-year high of $129.13. The firm has a 50 day moving average of $123.30 and a two-hundred day moving average of $119.70.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the prior year, the business earned $3.44 EPS. On average, equities analysts predict that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be given a dividend of $1.30 per share. 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 4.07%. Prudential Financial's payout ratio is presently 46.22%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Evercore ISI upgraded Prudential Financial from an "underperform" rating to an "inline" rating and boosted their price target for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Morgan Stanley reduced their target price on Prudential Financial from $123.00 to $122.00 and set an "equal weight" rating for the company in a research report on Monday, August 19th. Barclays increased their price objective on shares of Prudential Financial from $118.00 to $119.00 and gave the company an "equal weight" rating in a research note on Friday, November 1st. Argus upgraded shares of Prudential Financial to a "strong-buy" rating in a research report on Thursday, August 8th. Finally, Bank of America increased their price target 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 data from MarketBeat, Prudential Financial currently has an average rating of "Hold" and an average price target of $125.69.

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.