Dakota Wealth Management Sells 341 Shares of Prudential Financial, Inc. (NYSE:PRU)

Dakota Wealth Management cut its holdings in Prudential Financial, Inc. (NYSE:PRU) by 2.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,132 shares of the financial services provider’s stock after selling 341 shares during the period. Dakota Wealth Management’s holdings in Prudential Financial were worth $2,075,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Cullinan Associates Inc. lifted its holdings in shares of Prudential Financial by 2,355.0% during the first quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock worth $17,798,000 after buying an additional 145,423 shares during the last quarter. National Bank of Canada FI boosted its holdings in Prudential Financial by 44.9% in the 1st quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock valued at $27,327,000 after purchasing an additional 71,274 shares during the period. ORG Partners LLC acquired a new stake in Prudential Financial in the 2nd quarter worth $156,000. Russell Investments Group Ltd. raised its position in shares of Prudential Financial by 25.0% during the first quarter. Russell Investments Group Ltd. now owns 180,555 shares of the financial services provider’s stock valued at $21,171,000 after buying an additional 36,159 shares during the last quarter. Finally, PGGM Investments lifted its stake in shares of Prudential Financial by 98.0% in the second quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock valued at $7,533,000 after buying an additional 31,807 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analysts Set New Price Targets

PRU has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Citigroup raised their target price on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Argus raised shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Barclays initiated coverage on shares of Prudential Financial in a report on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price objective for the company. Finally, TD Cowen started coverage on shares of Prudential Financial in a research note on Wednesday, October 9th. They issued a “hold” rating and a $130.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eleven have given 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 stock presently has an average rating of “Hold” and a consensus target price of $123.69.

Prudential Financial Stock Performance

Shares of NYSE:PRU opened at $123.46 on Friday. The business has a fifty day moving average of $120.20 and a 200-day moving average of $117.80. 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 twelve month low of $87.95 and a twelve month high of $128.52. The firm has a market cap of $44.08 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 0.96 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last announced 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). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The company had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. On average, equities research analysts predict that Prudential Financial, Inc. will post 13.3 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were paid a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.21%. Prudential Financial’s dividend payout ratio (DPR) is currently 66.84%.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were acquired at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the acquisition, the insider now directly owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of Prudential Financial stock in a transaction on Tuesday, October 8th. The shares were purchased 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 owns 4,208,549 shares in the company, valued at $116,071,781.42. The trade was a 0.00 % increase 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 company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the sale, the executive vice president now owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently 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.