Valley Wealth Managers Inc. Sells 1,124 Shares of Prudential Financial, Inc. (NYSE:PRU)

Valley Wealth Managers Inc. decreased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,718 shares of the financial services provider’s stock after selling 1,124 shares during the period. Valley Wealth Managers Inc.’s holdings in Prudential Financial were worth $3,720,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PRU. Creekmur Asset Management LLC lifted its stake in shares of Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 108 shares during the period. Lynx Investment Advisory bought a new position in Prudential Financial in the second quarter worth approximately $29,000. Ashton Thomas Securities LLC purchased a new position in shares of Prudential Financial during the 3rd quarter worth $31,000. Strategic Financial Concepts LLC grew its position in shares of Prudential Financial by 1,312.4% during the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 25,027 shares during the period. Finally, Crewe Advisors LLC purchased a new stake in shares of Prudential Financial in the 1st quarter worth $33,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Up 1.0 %

Shares of PRU stock traded up $1.24 during trading hours on Friday, hitting $126.99. The company had a trading volume of 12,621 shares, compared to its average volume of 1,488,915. The company’s fifty day moving average is $121.92 and its 200 day moving average is $119.11. 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 fifty-two week low of $93.32 and a fifty-two week high of $129.13. The stock has a market capitalization of $45.21 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 0.89 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 EPS for the quarter, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The firm had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period in the prior year, the business posted $3.44 EPS. Research analysts expect that Prudential Financial, Inc. will post 13.33 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $1,648,705.05. This trade represents a 16.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on PRU. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and upped their price objective for the stock from $117.00 to $140.00 in a research note on Thursday. Barclays increased their price target on Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. UBS Group increased their price target on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Morgan Stanley cut their price target on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Finally, Bank of America increased their price target on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Eleven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial presently has an average rating of “Hold” and an average price target of $125.69.

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.