Dynamic Advisor Solutions LLC Sells 391 Shares of Prudential Financial, Inc. (NYSE:PRU)

Dynamic Advisor Solutions LLC cut its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 13.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,531 shares of the financial services provider’s stock after selling 391 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Prudential Financial were worth $307,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Creekmur Asset Management LLC lifted its holdings in 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 purchasing an additional 108 shares during the last quarter. Lynx Investment Advisory bought a new stake in shares of Prudential Financial in the second quarter valued at about $29,000. Crewe Advisors LLC acquired a new position in shares of Prudential Financial in the first quarter valued at about $33,000. ESL Trust Services LLC bought a new position in Prudential Financial during the first quarter worth about $34,000. Finally, Riverview Trust Co bought a new position in Prudential Financial during the first quarter worth about $37,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. 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 report on Tuesday, July 23rd. Piper Sandler lifted their price objective on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. TD Cowen initiated coverage on Prudential Financial in a research report on Wednesday. They issued a “hold” rating and a $130.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of Prudential Financial from $113.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Bank of America raised their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $123.69.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $123.72 on Friday. The company’s 50 day moving average price is $116.93 and its two-hundred day moving average price is $117.15. The firm has a market capitalization of $44.42 billion, a P/E ratio of 21.04, a P/E/G ratio of 0.97 and a beta of 1.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial, Inc. has a fifty-two week low of $87.95 and a fifty-two week high of $128.52.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. On average, equities analysts forecast that Prudential Financial, Inc. will post 13.28 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.20%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the company’s stock in a transaction dated Tuesday, October 8th. The stock was purchased at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of Prudential Financial stock in a transaction dated Tuesday, October 8th. The stock was purchased at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is owned by corporate insiders.

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.