Prudential Financial, Inc. $PRU Shares Sold by Orca Investment Management LLC

Orca Investment Management LLC decreased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 18.3% during the third quarter, HoldingsChannel reports. The fund owned 19,732 shares of the financial services provider’s stock after selling 4,407 shares during the quarter. Prudential Financial accounts for approximately 1.7% of Orca Investment Management LLC’s investment portfolio, making the stock its 19th largest holding. Orca Investment Management LLC’s holdings in Prudential Financial were worth $2,241,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Virtue Capital Management LLC boosted its stake in shares of Prudential Financial by 2.4% during the 3rd quarter. Virtue Capital Management LLC now owns 5,176 shares of the financial services provider’s stock worth $588,000 after purchasing an additional 122 shares during the period. Heritage Investors Management Corp purchased a new stake in Prudential Financial in the 3rd quarter worth about $505,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Prudential Financial in the 3rd quarter worth about $10,651,000. Profund Advisors LLC lifted its stake in Prudential Financial by 10.5% in the third quarter. Profund Advisors LLC now owns 3,212 shares of the financial services provider’s stock worth $365,000 after purchasing an additional 304 shares during the last quarter. Finally, Vise Technologies Inc. lifted its stake in Prudential Financial by 2.0% in the third quarter. Vise Technologies Inc. now owns 32,644 shares of the financial services provider’s stock worth $3,708,000 after purchasing an additional 653 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Down 0.1%

Shares of PRU opened at $116.35 on Monday. The firm has a market capitalization of $40.14 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 1.95 and a beta of 0.85. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a 1-year low of $91.89 and a 1-year high of $127.72. The company has a 50-day moving average of $116.96 and a 200 day moving average of $108.79.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.56. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.36 billion. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. During the same period in the prior year, the firm earned $3.58 EPS. On average, research analysts expect that Prudential Financial, Inc. will post 13.51 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 4.8%. The ex-dividend date was Tuesday, August 25th. Prudential Financial’s dividend payout ratio (DPR) is presently 50.72%.

Wall Street Analysts Forecast Growth

PRU has been the topic of a number of analyst reports. Keefe, Bruyette & Woods cut their target price on Prudential Financial from $123.00 to $119.00 and set a “market perform” rating on the stock in a research note on Friday, October 16th. Wall Street Zen lowered Prudential Financial from a “buy” rating to a “hold” rating in a research note on Monday, September 28th. Barclays decreased their price target on Prudential Financial from $96.00 to $94.00 and set an “underweight” rating for the company in a research note on Monday, October 19th. Bank of America dropped their price objective on Prudential Financial from $132.00 to $130.00 and set a “neutral” rating for the company in a report on Monday, October 12th. Finally, Morgan Stanley cut their price objective on Prudential Financial from $105.00 to $100.00 and set an “underweight” rating on the stock in a research report on Monday, October 19th. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $111.27.

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann Kappler sold 7,652 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $125.01, for a total value of $956,576.52. Following the completion of the sale, the executive vice president directly owned 14,407 shares in the company, valued at approximately $1,801,019.07. This represents a 34.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.05% of the stock is currently owned by company insiders.

Prudential Financial Company Profile

Prudential Financial, Inc (NYSE: PRU) is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in Newark, New Jersey, in 1875, the company serves individuals, businesses and institutional investors through a range of businesses and distribution channels.

In the United States, Prudential offers life insurance, annuities, retirement plans and employee benefits, including group life, disability and dental insurance.