Moors & Cabot Inc. Has $979,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Moors & Cabot Inc. lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 13.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,353 shares of the financial services provider’s stock after selling 1,260 shares during the period. Moors & Cabot Inc.’s holdings in Prudential Financial were worth $979,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Gilbert & Cook Inc. raised its holdings in Prudential Financial by 3.5% during the fourth quarter. Gilbert & Cook Inc. now owns 10,226 shares of the financial services provider’s stock worth $1,061,000 after buying an additional 344 shares during the last quarter. Norges Bank acquired a new position in Prudential Financial during the fourth quarter worth $113,478,000. Coldstream Capital Management Inc. raised its holdings in Prudential Financial by 9.5% during the fourth quarter. Coldstream Capital Management Inc. now owns 8,066 shares of the financial services provider’s stock worth $837,000 after buying an additional 702 shares during the last quarter. Corient Private Wealth LLC raised its holdings in Prudential Financial by 3.5% during the fourth quarter. Corient Private Wealth LLC now owns 90,111 shares of the financial services provider’s stock worth $9,345,000 after buying an additional 3,089 shares during the last quarter. Finally, CreativeOne Wealth LLC raised its holdings in Prudential Financial by 9.2% during the fourth quarter. CreativeOne Wealth LLC now owns 4,860 shares of the financial services provider’s stock worth $504,000 after buying an additional 408 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the 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 transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on PRU. UBS Group upped their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Wells Fargo & Company upgraded shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 target price for the company in a research note on Monday, August 12th. Citigroup upped their target price 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. JPMorgan Chase & Co. upped their target price on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Finally, Morgan Stanley reduced their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $120.83.

Prudential Financial Price Performance

PRU opened at $119.44 on Thursday. The firm has a market cap of $42.64 billion, a P/E ratio of 20.31, a PEG ratio of 0.90 and a beta of 1.30. The firm has a 50-day moving average of $117.88 and a 200 day moving average of $116.15. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a fifty-two week low of $87.95 and a fifty-two week high of $128.52.

Prudential Financial (NYSE:PRU) last issued its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. On average, research analysts expect that Prudential Financial, Inc. will post 13.31 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.35%. Prudential Financial’s dividend payout ratio is presently 88.44%.

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.