Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC reduced its position in Prudential Financial, Inc. (NYSE:PRU) by 6.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,070 shares of the financial services provider’s stock after selling 260 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Prudential Financial were worth $493,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. AQR Capital Management LLC grew its holdings in shares of Prudential Financial by 97.4% during the second quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock worth $84,874,000 after buying an additional 357,300 shares during the last quarter. Swedbank AB acquired a new position in shares of Prudential Financial in the first quarter valued at approximately $35,855,000. Legal & General Group Plc raised its stake in shares of Prudential Financial by 9.4% during the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock worth $415,134,000 after purchasing an additional 305,143 shares during the last quarter. OFI Invest Asset Management lifted its holdings in shares of Prudential Financial by 10,529.7% during the second quarter. OFI Invest Asset Management now owns 155,513 shares of the financial services provider’s stock worth $17,004,000 after purchasing an additional 154,050 shares during the period. Finally, Cullinan Associates Inc. grew its position in Prudential Financial by 2,355.0% in the 1st quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock valued at $17,798,000 after buying an additional 145,423 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Price Performance

Shares of PRU stock traded down $1.83 during trading hours on Monday, hitting $125.57. The company’s stock had a trading volume of 989,652 shares, compared to its average volume of 1,488,138. 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, Inc. has a twelve month low of $87.95 and a twelve month high of $128.52. The stock has a market cap of $45.08 billion, a price-to-earnings ratio of 21.35, a P/E/G ratio of 0.98 and a beta of 1.30. The business has a fifty day moving average of $118.85 and a 200-day moving average of $117.50.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data 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 net margin of 4.86% and a return on equity of 16.00%. As a group, equities research analysts anticipate that Prudential Financial, Inc. will post 13.29 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently declared 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. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.14%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on 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 of the company’s stock, valued at $1,220,694.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the sale, the executive vice president now owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on PRU shares. Citigroup raised their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Morgan Stanley lowered their price objective on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Argus raised Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. TD Cowen started coverage on Prudential Financial in a research note on Wednesday, October 9th. They issued a “hold” rating and a $130.00 price target on the stock. Finally, Piper Sandler increased their price objective on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $123.69.

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.