Ballentine Partners LLC Sells 1,296 Shares of Prudential Financial, Inc. (NYSE:PRU)

Ballentine Partners LLC trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 14.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,593 shares of the financial services provider’s stock after selling 1,296 shares during the quarter. Ballentine Partners LLC’s holdings in Prudential Financial were worth $920,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PRU. Wellington Management Group LLP boosted its stake in shares of Prudential Financial by 0.9% in the 4th quarter. Wellington Management Group LLP now owns 39,001 shares of the financial services provider’s stock valued at $4,045,000 after purchasing an additional 337 shares during the last quarter. SteelPeak Wealth LLC bought a new stake in shares of Prudential Financial in the 1st quarter valued at $409,000. LVW Advisors LLC boosted its stake in shares of Prudential Financial by 64.8% in the 1st quarter. LVW Advisors LLC now owns 3,665 shares of the financial services provider’s stock valued at $430,000 after purchasing an additional 1,441 shares during the last quarter. Kowal Investment Group LLC boosted its stake in shares of Prudential Financial by 26.6% in the 1st quarter. Kowal Investment Group LLC now owns 6,906 shares of the financial services provider’s stock valued at $811,000 after purchasing an additional 1,451 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Prudential Financial by 2.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 23,183 shares of the financial services provider’s stock valued at $2,722,000 after purchasing an additional 539 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on PRU. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a research note on Wednesday, August 21st. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $113.00 to $116.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Morgan Stanley dropped their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Finally, Piper Sandler boosted their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and an average price target of $123.69.

Prudential Financial Price Performance

PRU opened at $123.46 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market cap of $44.08 billion, a P/E ratio of 15.87, a PEG ratio of 0.96 and a beta of 1.30. Prudential Financial, Inc. has a fifty-two week low of $87.95 and a fifty-two week high of $128.52. The firm has a 50-day moving average of $120.20 and a 200 day moving average of $117.80.

Prudential Financial (NYSE:PRU) last issued its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. On average, research analysts expect that Prudential Financial, Inc. will post 13.3 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.21%. Prudential Financial’s dividend payout ratio is presently 66.84%.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 4,208,549 shares of the company’s stock, 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 hyperlink. In other news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was purchased at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the transaction, the insider now directly owns 4,208,549 shares of the company’s stock, valued at $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.

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.