Captrust Financial Advisors Reduces Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Captrust Financial Advisors reduced its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.0% in the third quarter, HoldingsChannel.com reports. The firm owned 30,402 shares of the financial services provider’s stock after selling 2,298 shares during the period. Captrust Financial Advisors’ holdings in Prudential Financial were worth $3,682,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PRU. International Assets Investment Management LLC boosted 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 worth $157,219,000 after purchasing an additional 1,267,571 shares during the period. AQR Capital Management LLC raised its stake in 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 in the last quarter. FMR LLC raised its stake in Prudential Financial by 31.3% in the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock worth $174,903,000 after buying an additional 344,254 shares in the last quarter. Legal & General Group Plc raised its stake in Prudential Financial by 9.4% in the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock worth $415,134,000 after buying an additional 305,143 shares in the last quarter. Finally, Capital Advisors Inc. OK bought a new position in Prudential Financial in the third quarter worth about $30,226,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were bought at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the acquisition, the insider now owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. This trade represents a 6.61 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Prudential Financial Price Performance

Shares of PRU opened at $127.14 on Wednesday. The company has a market capitalization of $45.26 billion, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 0.92 and a beta of 1.29. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The firm has a 50 day moving average of $124.54 and a 200 day moving average of $120.22. Prudential Financial, Inc. has a twelve month low of $96.87 and a twelve month high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results 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 company 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 15.30%. During the same quarter last year, the firm earned $3.44 earnings per share. As a group, equities research analysts anticipate that Prudential Financial, Inc. will post 13.35 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.09%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s dividend payout ratio is currently 46.22%.

Analysts Set New Price Targets

PRU has been the subject of a number of research reports. UBS Group increased their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Piper Sandler increased their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Barclays increased their price target on shares of Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Bank of America raised their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company raised their target price on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Eleven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial has a consensus rating of “Hold” and an average price target of $125.92.

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.