Prudential Financial, Inc. $PRU Stock Holdings Lessened by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC trimmed its stake in Prudential Financial, Inc. (NYSE:PRU) by 5.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,755 shares of the financial services provider’s stock after selling 225 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Prudential Financial were worth $403,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. SPC Financial Inc. raised its holdings in Prudential Financial by 2.6% during the 1st quarter. SPC Financial Inc. now owns 3,973 shares of the financial services provider’s stock worth $444,000 after buying an additional 100 shares during the period. NorthCrest Asset Manangement LLC raised its holdings in shares of Prudential Financial by 3.8% during the first quarter. NorthCrest Asset Manangement LLC now owns 2,738 shares of the financial services provider’s stock valued at $306,000 after acquiring an additional 101 shares during the period. Thrive Wealth Management LLC lifted its position in shares of Prudential Financial by 2.6% in the 2nd quarter. Thrive Wealth Management LLC now owns 4,007 shares of the financial services provider’s stock valued at $430,000 after acquiring an additional 101 shares in the last quarter. Eagle Capital Management LLC boosted its stake in Prudential Financial by 0.3% in the 2nd quarter. Eagle Capital Management LLC now owns 35,806 shares of the financial services provider’s stock worth $3,847,000 after purchasing an additional 108 shares during the period. Finally, Principle Wealth Partners LLC grew its position in Prudential Financial by 0.3% during the 1st quarter. Principle Wealth Partners LLC now owns 42,294 shares of the financial services provider’s stock worth $4,723,000 after purchasing an additional 109 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PRU has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Prudential Financial in a report on Saturday, September 27th. Morgan Stanley raised their price objective on Prudential Financial from $113.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Monday, August 18th. Wolfe Research assumed coverage on Prudential Financial in a report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Wall Street Zen upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and a consensus price target of $122.08.

Prudential Financial Stock Up 2.0%

Prudential Financial stock opened at $104.01 on Monday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The firm’s fifty day simple moving average is $105.19 and its 200-day simple moving average is $104.79. The company has a market capitalization of $36.61 billion, a P/E ratio of 23.06, a P/E/G ratio of 0.92 and a beta of 1.04.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, topping the consensus estimate of $3.22 by $0.36. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The firm had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.47 billion. During the same period in the prior year, the business posted $3.39 earnings per share. The business’s quarterly revenue was down 2.5% on a year-over-year basis. Sell-side analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a yield of 5.2%. Prudential Financial’s dividend payout ratio is presently 119.73%.

Insider Activity at Prudential Financial

In other news, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the completion of the sale, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

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.