Prudential Financial, Inc. (NYSE:PRU) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,253 shares of the financial services provider’s stock after selling 123 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Prudential Financial were worth $498,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Choreo LLC raised its stake in Prudential Financial by 163.5% during the 4th quarter. Choreo LLC now owns 6,940 shares of the financial services provider’s stock worth $720,000 after acquiring an additional 4,306 shares in the last quarter. Cullinan Associates Inc. raised its stake in Prudential Financial by 2,355.0% during the 1st quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock worth $17,798,000 after acquiring an additional 145,423 shares in the last quarter. National Bank of Canada FI raised its stake in Prudential Financial by 44.9% during the 1st quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock worth $27,327,000 after acquiring an additional 71,274 shares in the last quarter. Greenwood Capital Associates LLC purchased a new position in Prudential Financial during the 4th quarter worth $1,087,000. Finally, Crestline Management LP grew its position in Prudential Financial by 50.0% during the 4th quarter. Crestline Management LP now owns 60,000 shares of the financial services provider’s stock worth $6,223,000 after purchasing an additional 20,000 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on PRU shares. UBS Group raised their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. raised their price objective on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Evercore ISI raised their price objective on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research report on Thursday, April 25th. Morgan Stanley lowered their price objective on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Wells Fargo & Company raised shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 target price on the stock in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $119.33.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the stock in a transaction dated Thursday, June 20th. The shares were acquired at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the transaction, the insider now directly owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.31% of the company’s stock.

Prudential Financial Price Performance

PRU traded up $0.31 on Wednesday, hitting $113.57. 196,621 shares of the company were exchanged, compared to its average volume of 1,505,573. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The business’s fifty day moving average is $117.70 and its 200 day moving average is $114.69. Prudential Financial, Inc. has a fifty-two week low of $87.95 and a fifty-two week high of $128.52. The firm has a market capitalization of $40.77 billion, a P/E ratio of 19.30, a price-to-earnings-growth ratio of 0.86 and a beta of 1.34.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th will be given a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.58%. Prudential Financial’s dividend payout ratio is presently 88.44%.

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.