Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Carson Advisory Inc.

Carson Advisory Inc. lessened its position in Prudential Financial, Inc. (NYSE:PRU) by 3.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 8,698 shares of the financial services provider’s stock after selling 299 shares during the period. Carson Advisory Inc.’s holdings in Prudential Financial were worth $1,019,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Coldstream Capital Management Inc. grew its holdings in Prudential Financial by 1.1% during the second quarter. Coldstream Capital Management Inc. now owns 10,947 shares of the financial services provider’s stock worth $1,283,000 after acquiring an additional 123 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Prudential Financial by 9.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 39,511 shares of the financial services provider’s stock worth $4,630,000 after purchasing an additional 3,454 shares during the period. Royal London Asset Management Ltd. increased its holdings in shares of Prudential Financial by 10.3% in the 2nd quarter. Royal London Asset Management Ltd. now owns 159,321 shares of the financial services provider’s stock valued at $18,671,000 after purchasing an additional 14,849 shares in the last quarter. Choreo LLC lifted its stake in shares of Prudential Financial by 155.6% in the second quarter. Choreo LLC now owns 21,833 shares of the financial services provider’s stock valued at $2,566,000 after purchasing an additional 13,290 shares during the period. Finally, Prudential PLC boosted its holdings in Prudential Financial by 9.3% during the second quarter. Prudential PLC now owns 167,573 shares of the financial services provider’s stock worth $19,638,000 after buying an additional 14,209 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

In related news, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the sale, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Stock Down 0.3 %

Shares of NYSE PRU opened at $114.65 on Wednesday. The firm’s 50 day moving average price is $118.02 and its 200 day moving average price is $115.82. 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 firm has a market cap of $40.93 billion, a P/E ratio of 19.50, a price-to-earnings-growth ratio of 0.88 and a beta of 1.30. Prudential Financial, Inc. has a 1 year low of $87.95 and a 1 year high of $128.52.

Prudential Financial (NYSE:PRU) last posted 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 business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. As a group, sell-side analysts anticipate that Prudential Financial, Inc. will post 13.31 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend is Tuesday, August 20th. Prudential Financial’s dividend payout ratio is currently 88.44%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. UBS Group lifted their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Morgan Stanley lowered their target price 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. Wells Fargo & Company raised Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price target for the company in a research note on Monday, August 12th. Argus raised shares of Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Citigroup lifted their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. One 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $120.83.

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.