Prudential Financial, Inc. (NYSE:PRU) Stock Position Decreased by Courier Capital LLC

Courier Capital LLC lowered its holdings in Prudential Financial, Inc. (NYSE:PRU) by 2.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,332 shares of the financial services provider’s stock after selling 562 shares during the period. Courier Capital LLC’s holdings in Prudential Financial were worth $3,189,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PRU. TFG Advisers LLC lifted its stake in Prudential Financial by 1.8% in the third quarter. TFG Advisers LLC now owns 15,841 shares of the financial services provider’s stock valued at $1,918,000 after buying an additional 286 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in Prudential Financial by 41.6% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 20,279 shares of the financial services provider’s stock valued at $2,456,000 after purchasing an additional 5,961 shares during the period. Elevated Capital Advisors LLC grew its position in Prudential Financial by 6.9% in the 3rd quarter. Elevated Capital Advisors LLC now owns 8,815 shares of the financial services provider’s stock worth $1,067,000 after purchasing an additional 571 shares during the last quarter. Narwhal Capital Management acquired a new stake in shares of Prudential Financial in the third quarter valued at approximately $202,000. Finally, Leo Wealth LLC acquired a new position in shares of Prudential Financial during the third quarter worth approximately $216,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PRU. UBS Group lifted their target price on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $113.00 to $116.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Citigroup raised their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Barclays initiated coverage on shares of Prudential Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 price objective for the company. Finally, TD Cowen began coverage on Prudential Financial in a research report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 target price for the company. One 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 MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and an average target price of $123.69.

Prudential Financial Price Performance

PRU stock opened at $125.16 on Thursday. Prudential Financial, Inc. has a one year low of $87.95 and a one year high of $128.52. The firm has a 50-day moving average of $119.79 and a two-hundred day moving average of $117.69. The firm has a market capitalization of $44.93 billion, a PE ratio of 21.29, a P/E/G 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.

Prudential Financial (NYSE:PRU) last released its earnings results 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 analysts’ expectations of $13.78 billion. On average, analysts forecast that Prudential Financial, Inc. will post 13.3 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.15%. Prudential Financial’s dividend payout ratio is 88.44%.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was bought at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the transaction, the insider now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were bought at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the transaction, the insider now directly owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale 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.