Greenleaf Trust Lowers Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Greenleaf Trust cut its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 5.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,257 shares of the financial services provider’s stock after selling 652 shares during the quarter. Greenleaf Trust’s holdings in Prudential Financial were worth $1,484,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Creekmur Asset Management LLC raised its stake in shares of Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 108 shares in the last quarter. Lynx Investment Advisory purchased a new position in shares of Prudential Financial during the second quarter worth approximately $29,000. Crewe Advisors LLC purchased a new position in shares of Prudential Financial during the first quarter worth approximately $33,000. ESL Trust Services LLC purchased a new position in shares of Prudential Financial in the first quarter worth $34,000. Finally, Riverview Trust Co purchased a new position in shares of Prudential Financial in the first quarter worth $37,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PRU has been the topic of several analyst reports. Jefferies Financial Group decreased their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Morgan Stanley decreased 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 note on Monday, August 19th. TD Cowen assumed 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. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. Finally, Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $123.69.

Prudential Financial Stock Performance

Shares of PRU stock opened at $125.16 on Thursday. Prudential Financial, Inc. has a 12 month low of $87.95 and a 12 month high of $128.52. The stock has a market cap of $44.93 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 0.97 and a beta of 1.30. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The company’s fifty day moving average price is $119.79 and its 200-day moving average price is $117.69.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.43 by ($0.04). The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. On average, equities analysts expect that Prudential Financial, Inc. will post 13.3 EPS for the current fiscal 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 $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was acquired at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the transaction, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were bought at an average price 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. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is owned by 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.