SeaCrest Wealth Management LLC Cuts Stake in Prudential Financial, Inc. (NYSE:PRU)

SeaCrest Wealth Management LLC cut its holdings in Prudential Financial, Inc. (NYSE:PRU) by 2.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,253 shares of the financial services provider’s stock after selling 123 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Prudential Financial were worth $498,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Creekmur Asset Management LLC grew its holdings in shares of 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 purchasing an additional 108 shares in the last quarter. Lynx Investment Advisory bought a new stake in Prudential Financial in the second quarter worth $29,000. Crewe Advisors LLC bought a new stake in Prudential Financial in the first quarter worth $33,000. ESL Trust Services LLC bought a new stake in Prudential Financial in the first quarter worth $34,000. Finally, Riverview Trust Co bought a new stake in Prudential Financial in the first quarter worth $37,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were acquired at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the purchase, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a research report on Wednesday. Wells Fargo & Company upgraded Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price target for the company in a research report on Monday, August 12th. JPMorgan Chase & Co. lifted their target price on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Jefferies Financial Group decreased their target price on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Finally, Piper Sandler decreased their target price on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Prudential Financial has a consensus rating of “Hold” and a consensus price target of $119.33.

Prudential Financial Stock Up 0.3 %

PRU traded up $0.31 on Wednesday, hitting $113.57. The company had a trading volume of 196,621 shares, compared to its average volume of 1,505,573. The stock has a fifty day moving average price of $117.70 and a 200-day moving average price of $114.69. Prudential Financial, Inc. has a 12-month low of $87.95 and a 12-month high of $128.52. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a market capitalization of $40.77 billion, a price-to-earnings ratio of 19.30, a P/E/G ratio of 0.86 and a beta of 1.34.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $5.20 annualized dividend and a yield of 4.58%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

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.