Greenleaf Trust Sells 652 Shares of Prudential Financial, Inc. (NYSE:PRU)

Greenleaf Trust cut its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 5.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,257 shares of the financial services provider’s stock after selling 652 shares during the quarter. Greenleaf Trust’s holdings in Prudential Financial were worth $1,484,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Creekmur Asset Management LLC boosted its stake in Prudential Financial by 78.8% in 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 period. Lynx Investment Advisory bought a new position in Prudential Financial in the 2nd quarter worth approximately $29,000. Crewe Advisors LLC bought a new position in Prudential Financial in the 1st quarter worth approximately $33,000. ESL Trust Services LLC bought a new position in Prudential Financial in the 1st quarter worth approximately $34,000. Finally, Riverview Trust Co bought a new position in Prudential Financial in the 1st quarter worth approximately $37,000. 56.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of Prudential Financial stock in a transaction on Tuesday, October 8th. The shares were acquired at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, the insider now directly owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other 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 shares were acquired at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the transaction, the insider now owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PRU shares. Piper Sandler increased their target price on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Bank of America increased their target price on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Wells Fargo & Company increased their target price on Prudential Financial from $113.00 to $116.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Argus upgraded Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, UBS Group increased their target price on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have assigned 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 has an average rating of “Hold” and a consensus target price of $123.69.

Prudential Financial Stock Performance

PRU stock opened at $125.16 on Thursday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The business’s fifty day simple moving average is $119.79 and its two-hundred day simple moving average is $117.69. Prudential Financial, Inc. has a twelve month low of $87.95 and a twelve month high of $128.52. The firm has a market cap of $44.93 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 0.97 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last released its earnings results 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). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The business had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Analysts predict that Prudential Financial, Inc. will post 13.3 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were paid a $1.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.15%. Prudential Financial’s payout ratio is 88.44%.

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.