DekaBank Deutsche Girozentrale Sells 8,265 Shares of Prudential Financial, Inc. (NYSE:PRU)

DekaBank Deutsche Girozentrale decreased its stake in Prudential Financial, Inc. (NYSE:PRU) by 6.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 115,229 shares of the financial services provider’s stock after selling 8,265 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Prudential Financial were worth $13,816,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of PRU. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of 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 worth $108,788,000 after purchasing an additional 62,578 shares during the period. Norden Group LLC acquired a new position in Prudential Financial in the 1st quarter valued at approximately $2,789,000. First Trust Direct Indexing L.P. grew its holdings in shares of Prudential Financial by 7.2% during the 1st quarter. First Trust Direct Indexing L.P. now owns 13,719 shares of the financial services provider’s stock worth $1,611,000 after purchasing an additional 922 shares in the last quarter. Accel Wealth Management increased its position in shares of Prudential Financial by 0.7% during the first quarter. Accel Wealth Management now owns 15,310 shares of the financial services provider’s stock valued at $1,797,000 after purchasing an additional 104 shares during the period. Finally, HB Wealth Management LLC raised its stake in shares of Prudential Financial by 17.2% in the first quarter. HB Wealth Management LLC now owns 6,754 shares of the financial services provider’s stock valued at $793,000 after purchasing an additional 991 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the firm’s 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 in the company, valued at approximately $1,220,694.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction that occurred on 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 directly owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the acquisition, the insider now 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 disclosure for this purchase can be found here. 0.34% of the stock is owned by insiders.

Prudential Financial Price Performance

Shares of PRU stock opened at $125.27 on Wednesday. The firm has a market cap of $44.72 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 0.94 and a beta of 1.30. Prudential Financial, Inc. has a 12 month low of $89.09 and a 12 month high of $128.52. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The stock has a 50-day moving average price of $120.63 and a 200 day moving average price of $118.07.

Prudential Financial (NYSE:PRU) last issued its quarterly 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). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Research analysts expect that Prudential Financial, Inc. will post 13.3 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were given 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 4.15%. Prudential Financial’s dividend payout ratio is currently 66.84%.

Analyst Ratings Changes

PRU has been the topic of several analyst reports. Argus raised shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Bank of America increased their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price objective on 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 Prudential Financial in a research report on Wednesday, October 9th. They set a “hold” rating and a $130.00 target price for the company. Finally, Morgan Stanley lowered their price target on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and an average target price of $123.69.

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.