Canandaigua National Bank & Trust Co. Has $1.24 Million Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Canandaigua National Bank & Trust Co. cut its holdings in Prudential Financial, Inc. (NYSE:PRU) by 10.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,442 shares of the financial services provider’s stock after selling 1,165 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Prudential Financial were worth $1,238,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in Prudential Financial in the third quarter valued at approximately $31,000. Strategic Financial Concepts LLC grew its stake in shares of 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 in the last quarter. Quarry LP increased its holdings in Prudential Financial by 376.3% during the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after buying an additional 222 shares during the last quarter. Tompkins Financial Corp lifted its stake in Prudential Financial by 61.7% in the third quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 140 shares during the last quarter. Finally, GHP Investment Advisors Inc. grew its position in shares of Prudential Financial by 235.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 266 shares during the period. Institutional investors own 56.83% of the company’s stock.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were bought at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the purchase, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Stock Down 0.5 %

Shares of PRU opened at $118.56 on Tuesday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $42.21 billion, a PE ratio of 10.54, a P/E/G ratio of 0.87 and a beta of 1.31. The firm’s 50 day moving average is $123.03 and its 200-day moving average is $120.69. Prudential Financial, Inc. has a 12 month low of $100.60 and a 12 month high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period in the previous year, the firm earned $3.44 EPS. Equities research analysts forecast that Prudential Financial, Inc. will post 13.35 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s dividend payout ratio is currently 46.22%.

Analyst Ratings Changes

PRU has been the subject of several recent analyst reports. TD Cowen raised their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Jefferies Financial Group raised their price objective on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Bank of America boosted their target price on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price objective for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. Finally, Barclays increased their price objective on shares of Prudential Financial from $119.00 to $129.00 and gave the company an “equal weight” rating in a research report on Monday. Eleven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $127.17.

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.