Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Magnus Financial Group LLC

Magnus Financial Group LLC lowered its stake in Prudential Financial, Inc. (NYSE:PRU) by 43.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,966 shares of the financial services provider’s stock after selling 1,532 shares during the quarter. Magnus Financial Group LLC’s holdings in Prudential Financial were worth $238,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PRU. Creekmur Asset Management LLC lifted its position in Prudential Financial by 78.8% in the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after buying an additional 108 shares during the last quarter. Lynx Investment Advisory acquired a new position in Prudential Financial in the second quarter valued at about $29,000. Strategic Financial Concepts LLC lifted its position in Prudential Financial by 1,312.4% in the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after buying an additional 25,027 shares during the last quarter. Crewe Advisors LLC acquired a new position in Prudential Financial in the first quarter valued at about $33,000. Finally, ESL Trust Services LLC acquired a new position in Prudential Financial in the first quarter valued at about $34,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Bank of America boosted their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Barclays assumed coverage on shares of Prudential Financial in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price target on the stock. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Finally, TD Cowen started coverage on shares of Prudential Financial in a research note on Wednesday, October 9th. They set a “hold” rating and a $130.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $123.69.

Prudential Financial Price Performance

PRU stock opened at $127.03 on Thursday. The company has a market capitalization of $45.60 billion, a P/E ratio of 21.60, a PEG ratio of 0.97 and a beta of 1.30. Prudential Financial, Inc. has a twelve month low of $87.95 and a twelve month high of $128.52. The business has a 50 day simple moving average of $118.11 and a 200-day simple moving average of $117.34. 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 (NYSE:PRU) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.43 by ($0.04). The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates 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 analysts anticipate that Prudential Financial, Inc. will post 13.28 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is presently 88.44%.

Insider Buying and Selling

In related news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the sale, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at $1,648,705.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 value of $133,166.70. Following the completion of the transaction, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction on Wednesday, August 21st. The stock was 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 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. Corporate insiders own 0.31% of the company’s stock.

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.