Investors Research Corp Has $753,000 Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Investors Research Corp trimmed its holdings in Prudential Financial, Inc. (NYSE:PRU) by 9.1% in the third quarter, Holdings Channel reports. The fund owned 6,217 shares of the financial services provider’s stock after selling 625 shares during the period. Investors Research Corp’s holdings in Prudential Financial were worth $753,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Creekmur Asset Management LLC grew its stake in shares of Prudential Financial by 78.8% during the 1st 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 acquired a new stake in shares of Prudential Financial in the second quarter valued at about $29,000. Ashton Thomas Securities LLC bought a new stake in Prudential Financial during the third quarter worth about $31,000. Crewe Advisors LLC bought a new position in Prudential Financial in the first quarter valued at approximately $33,000. Finally, Bank & Trust Co bought a new stake in shares of Prudential Financial during the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

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 transaction, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. This represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the business’s stock in a transaction that occurred 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 completion of the acquisition, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 6.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU stock traded up $0.82 on Thursday, reaching $124.93. The company had a trading volume of 55,265 shares, compared to its average volume of 1,495,725. The stock has a market capitalization of $44.48 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The business’s 50-day moving average is $122.86 and its 200 day moving average is $119.56. Prudential Financial, Inc. has a one year low of $93.99 and a one year high of $129.13.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The firm had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the previous year, the firm posted $3.44 earnings per share. Equities research analysts forecast that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s payout ratio is presently 46.22%.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of recent analyst reports. Bank of America increased their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Barclays boosted their price target on Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Argus raised Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st. Finally, Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their target price for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. Eleven analysts have rated the stock with 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, Prudential Financial presently has an average rating of “Hold” and a consensus price target of $125.69.

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.