Parkside Financial Bank & Trust Sells 123 Shares of Prudential Financial, Inc. (NYSE:PRU)

Parkside Financial Bank & Trust trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 5.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,070 shares of the financial services provider’s stock after selling 123 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Prudential Financial were worth $243,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Gilbert & Cook Inc. raised its holdings in Prudential Financial by 3.5% in the 4th quarter. Gilbert & Cook Inc. now owns 10,226 shares of the financial services provider’s stock valued at $1,061,000 after acquiring an additional 344 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Prudential Financial during the 4th quarter worth approximately $216,000. Principal Securities Inc. acquired a new stake in shares of Prudential Financial during the 4th quarter worth approximately $1,006,000. Lebenthal Global Advisors LLC acquired a new position in Prudential Financial during the fourth quarter valued at approximately $258,000. Finally, Thompson Siegel & Walmsley LLC lifted its stake in Prudential Financial by 0.5% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 74,444 shares of the financial services provider’s stock worth $7,721,000 after purchasing an additional 375 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $113.25 on Friday. 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 company has a market capitalization of $40.66 billion, a PE ratio of 19.26, a P/E/G ratio of 0.94 and a beta of 1.30. The firm has a fifty day simple moving average of $118.15 and a 200 day simple moving average of $115.62. Prudential Financial, Inc. has a twelve month low of $87.95 and a twelve month high of $128.52.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. On average, sell-side 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, September 12th. Stockholders of record on Tuesday, August 20th will be paid a $1.30 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.59%. Prudential Financial’s dividend payout ratio is currently 88.44%.

Analysts Set New Price Targets

PRU has been the subject of a number of research analyst reports. Barclays initiated coverage on Prudential Financial in a report on Wednesday. They set an “equal weight” rating and a $118.00 price target for the company. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Citigroup upped their price objective on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Morgan Stanley cut 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, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $119.23.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of Prudential Financial stock in a transaction dated Thursday, June 20th. The stock was purchased at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the acquisition, the insider now directly owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the company’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 completion of the sale, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

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.