Crossmark Global Holdings Inc. Has $3.01 Million Position in Prudential Financial, Inc. (NYSE:PRU)

Crossmark Global Holdings Inc. lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 24,885 shares of the financial services provider’s stock after selling 659 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Prudential Financial were worth $3,014,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Creekmur Asset Management LLC boosted its holdings in shares of Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 108 shares during the period. Lynx Investment Advisory bought a new stake in Prudential Financial in the 2nd quarter valued at $29,000. Strategic Financial Concepts LLC grew its holdings in Prudential Financial by 1,312.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after buying an additional 25,027 shares in the last quarter. Crewe Advisors LLC bought a new position in Prudential Financial during the 1st quarter worth $33,000. Finally, ESL Trust Services LLC bought a new stake in shares of Prudential Financial in the first quarter valued at about $34,000. Institutional investors own 56.83% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was bought at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the transaction, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of Prudential Financial stock in a transaction on Tuesday, October 8th. The stock was bought at an average price 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 of the company’s stock, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PRU. Bank of America lifted their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Barclays boosted their price target on Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Wells Fargo & Company increased their price target on Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. TD Cowen initiated coverage on Prudential Financial in a research report on Wednesday, October 9th. They set a “hold” rating and a $130.00 target price for the company. Finally, UBS Group raised their price target on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $123.85.

Prudential Financial Stock Up 2.6 %

NYSE:PRU opened at $125.00 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. Prudential Financial, Inc. has a one year low of $91.07 and a one year high of $129.13. The firm’s 50 day simple moving average is $121.48 and its 200 day simple moving average is $118.82. The company has a market cap of $44.50 billion, a PE ratio of 11.11, a P/E/G ratio of 0.87 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.01. The company 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 in the previous year, the firm posted $3.44 earnings per share. On average, research analysts anticipate that Prudential Financial, Inc. will post 13.33 earnings per share for the current 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 4.16%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s payout ratio is presently 46.22%.

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.