CENTRAL TRUST Co Trims Stake in Prudential Financial, Inc. (NYSE:PRU)

CENTRAL TRUST Co decreased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,057 shares of the financial services provider’s stock after selling 113 shares during the period. CENTRAL TRUST Co’s holdings in Prudential Financial were worth $370,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Creekmur Asset Management LLC boosted its position in shares of Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 108 shares during the last quarter. Lynx Investment Advisory bought a new stake in Prudential Financial during the second quarter valued at approximately $29,000. Crewe Advisors LLC purchased a new position in Prudential Financial in the 1st quarter worth approximately $33,000. ESL Trust Services LLC bought a new position in shares of Prudential Financial in the 1st quarter worth $34,000. Finally, Bank & Trust Co purchased a new stake in shares of Prudential Financial during the 2nd quarter valued at $37,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Prudential Financial

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $121.00 target price on shares of Prudential Financial in a research report on Wednesday, August 21st. Morgan Stanley reduced their price objective on 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. Argus upgraded Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Finally, Bank of America boosted their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $123.69.

Prudential Financial Stock Performance

Prudential Financial stock opened at $123.46 on Friday. Prudential Financial, Inc. has a 1-year low of $87.95 and a 1-year high of $128.52. The firm has a market cap of $44.08 billion, a P/E ratio of 15.87, a P/E/G ratio of 0.96 and a beta of 1.30. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. 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 quarterly earnings data 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 during 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%. Sell-side analysts expect that Prudential Financial, Inc. will post 13.3 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 annualized dividend and a yield of 4.21%. Prudential Financial’s dividend payout ratio (DPR) is presently 66.84%.

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.