Americana Partners LLC Reduces Position in Prudential Financial, Inc. (NYSE:PRU)

Americana Partners LLC trimmed its holdings in Prudential Financial, Inc. (NYSE:PRU) by 3.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,179 shares of the financial services provider’s stock after selling 714 shares during the quarter. Americana Partners LLC’s holdings in Prudential Financial were worth $2,565,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. National Bank of Canada FI grew its holdings in Prudential Financial by 44.9% in the 1st quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock valued at $27,327,000 after buying an additional 71,274 shares in the last quarter. ORG Partners LLC purchased a new position in Prudential Financial during the second quarter worth about $156,000. Russell Investments Group Ltd. increased its holdings in shares of Prudential Financial by 25.0% during the 1st quarter. Russell Investments Group Ltd. now owns 180,555 shares of the financial services provider’s stock worth $21,171,000 after buying an additional 36,159 shares during the last quarter. PGGM Investments grew its position in Prudential Financial by 98.0% in the second quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock worth $7,533,000 after acquiring an additional 31,807 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its stake in Prudential Financial by 6.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 406,295 shares of the financial services provider’s stock worth $47,699,000 after acquiring an additional 25,196 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Stock Down 1.0 %

Shares of Prudential Financial stock opened at $121.28 on Friday. Prudential Financial, Inc. has a 52-week low of $89.90 and a 52-week high of $128.52. The company has a 50 day moving average of $121.10 and a 200 day moving average of $118.25. 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 company has a market capitalization of $43.30 billion, a P/E ratio of 10.78, a P/E/G ratio of 0.97 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.66%. During the same quarter in the previous year, the firm posted $3.44 earnings per share. As a group, research analysts forecast that Prudential Financial, Inc. will post 13.3 EPS for the current fiscal 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 given 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 4.29%. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was purchased at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the acquisition, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the sale, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PRU shares. Argus upgraded Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Citigroup lifted their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. 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 report on Thursday, October 10th. TD Cowen started coverage on shares of Prudential Financial in a report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 target price for the company. Finally, Piper Sandler raised their price target on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $123.77.

About Prudential Financial

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.