Courier Capital LLC Sells 102 Shares of Prudential Financial, Inc. (NYSE:PRU)

Courier Capital LLC lowered its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,230 shares of the financial services provider’s stock after selling 102 shares during the period. Courier Capital LLC’s holdings in Prudential Financial were worth $3,109,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in PRU. Glenmede Trust Co. NA increased its stake in Prudential Financial by 7.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock valued at $2,176,000 after purchasing an additional 1,234 shares in the last quarter. Principal Financial Group Inc. lifted its position in Prudential Financial by 3.9% in the 3rd quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock valued at $50,830,000 after acquiring an additional 15,695 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Prudential Financial by 2.3% during the 3rd quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock valued at $9,597,000 after purchasing an additional 1,765 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in Prudential Financial by 4.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider’s stock worth $19,701,000 after purchasing an additional 6,641 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of Prudential Financial by 18.7% in the third quarter. HighTower Advisors LLC now owns 69,542 shares of the financial services provider’s stock valued at $8,395,000 after purchasing an additional 10,964 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wells Fargo & Company increased their target price on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. TD Cowen lifted their price objective on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Bank of America increased their target price 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. Jefferies Financial Group boosted their price objective on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and increased their price target for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Eleven investment analysts have rated the stock with 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, the stock has an average rating of “Hold” and an average price target of $127.17.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the company’s stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the acquisition, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.

Prudential Financial Stock Up 1.7 %

Shares of PRU stock traded up $1.94 during mid-day trading on Monday, hitting $116.47. The company’s stock had a trading volume of 1,237,699 shares, compared to its average volume of 1,309,648. Prudential Financial, Inc. has a 52-week low of $100.60 and a 52-week high of $130.55. The business has a 50-day moving average price of $122.52 and a 200 day moving average price of $120.67. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The stock has a market cap of $41.46 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 0.87 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The business had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter in the previous year, the firm posted $3.44 EPS. Research analysts predict that Prudential Financial, Inc. will post 13.35 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s payout ratio is 46.22%.

About Prudential Financial

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.