D.A. Davidson & CO. Decreases Position in Prudential Financial, Inc. (NYSE:PRU)

D.A. Davidson & CO. trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,239 shares of the financial services provider’s stock after selling 358 shares during the quarter. D.A. Davidson & CO.’s holdings in Prudential Financial were worth $11,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PRU. International Assets Investment Management LLC increased its holdings in shares of Prudential Financial by 4,130.8% during the third quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock valued at $157,219,000 after acquiring an additional 1,267,571 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Prudential Financial by 97.4% in the second quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock worth $84,874,000 after buying an additional 357,300 shares during the last quarter. Swedbank AB acquired a new stake in shares of Prudential Financial during the first quarter worth $35,855,000. Legal & General Group Plc grew its holdings in shares of Prudential Financial by 9.4% during the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock valued at $415,134,000 after buying an additional 305,143 shares during the last quarter. Finally, Capital Advisors Inc. OK acquired a new position in shares of Prudential Financial in the 3rd quarter valued at $30,226,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on PRU shares. Wells Fargo & Company boosted their price target on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. TD Cowen initiated coverage on Prudential Financial in a research report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 target price on the stock. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price objective for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a research note on Wednesday, August 21st. Eleven analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and a consensus target price of $125.69.

Prudential Financial Stock Performance

NYSE PRU opened at $129.11 on Wednesday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a twelve month low of $94.92 and a twelve month high of $129.69. The stock has a 50-day moving average of $123.72 and a 200 day moving average of $119.89. The stock has a market capitalization of $45.96 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 0.91 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter last year, the company earned $3.44 EPS. Sell-side analysts anticipate that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.03%. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was bought at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the acquisition, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. The trade was a 6.61 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction that occurred 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 owns 10,175 shares in the company, valued at approximately $1,220,694.75. This represents a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

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.