Valley National Advisers Inc. Has $71,000 Stake in Prudential Financial, Inc. (NYSE:PRU)

Valley National Advisers Inc. lowered its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 41.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 588 shares of the financial services provider’s stock after selling 423 shares during the quarter. Valley National Advisers Inc.’s holdings in Prudential Financial were worth $71,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SteelPeak Wealth LLC acquired a new position in Prudential Financial in the 1st quarter valued at $409,000. Allspring Global Investments Holdings LLC grew its position in shares of Prudential Financial by 2.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 23,183 shares of the financial services provider’s stock valued at $2,722,000 after purchasing an additional 539 shares during the last quarter. MV Capital Management Inc. increased its stake in shares of Prudential Financial by 10.6% in the first quarter. MV Capital Management Inc. now owns 1,118 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 107 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Prudential Financial by 7.2% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 926,641 shares of the financial services provider’s stock valued at $108,788,000 after purchasing an additional 62,578 shares during the period. Finally, OMNI 360 Wealth Inc. acquired a new stake in Prudential Financial in the 1st quarter valued at approximately $203,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PRU shares. Argus upgraded Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. TD Cowen began coverage on shares of Prudential Financial in a report on Wednesday, October 9th. They set a “hold” rating and a $130.00 price objective on the stock. Citigroup increased 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. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and an average target price of $123.69.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was purchased at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the acquisition, the insider now directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. In related news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the stock in a transaction on Tuesday, October 8th. The stock was purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the transaction, the insider now owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

Prudential Financial Price Performance

Shares of PRU stock opened at $125.60 on Tuesday. The stock’s fifty day simple moving average is $120.39 and its 200 day simple moving average is $117.96. Prudential Financial, Inc. has a one year low of $89.09 and a one year high of $128.52. The firm has a market cap of $44.84 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 0.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRU) last issued its earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing the consensus estimate of $3.43 by ($0.04). The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. On average, analysts expect that Prudential Financial, Inc. will post 13.3 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s payout ratio is 66.84%.

Prudential Financial Company 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.