Coastline Trust Co Makes New Investment in Prudential Financial, Inc. (NYSE:PRU)

Coastline Trust Co acquired a new stake in Prudential Financial, Inc. (NYSE:PRU) during the 3rd quarter, Holdings Channel reports. The firm acquired 1,030 shares of the financial services provider’s stock, valued at approximately $125,000.

Other institutional investors have also recently made changes to their positions in the company. Sei Investments Co. boosted its position in shares of Prudential Financial by 12.9% during the first quarter. Sei Investments Co. now owns 57,853 shares of the financial services provider’s stock worth $6,791,000 after acquiring an additional 6,609 shares during the last quarter. Kingsview Wealth Management LLC grew its position in shares of Prudential Financial by 19.3% during the first quarter. Kingsview Wealth Management LLC now owns 6,910 shares of the financial services provider’s stock valued at $811,000 after purchasing an additional 1,116 shares in the last quarter. Nwam LLC bought a new stake in shares of Prudential Financial in the first quarter worth about $209,000. Banco Santander S.A. purchased a new stake in shares of Prudential Financial in the first quarter worth about $555,000. Finally, Intech Investment Management LLC grew its holdings in Prudential Financial by 8.4% during the 1st quarter. Intech Investment Management LLC now owns 10,289 shares of the financial services provider’s stock valued at $1,208,000 after buying an additional 796 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on PRU. Morgan Stanley lowered their target price on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. UBS Group boosted their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price target for the stock from $117.00 to $140.00 in a research report on Thursday. Bank of America upped their price objective on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company boosted their target price on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $125.69.

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 stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares of the company’s stock, 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 through this link. Also, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of Prudential Financial stock in a transaction on 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 acquisition, the insider now directly owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. This represents a 6.61 % increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is owned by insiders.

Prudential Financial Trading Up 1.3 %

PRU stock opened at $127.41 on Friday. The company has a market capitalization of $45.36 billion, a PE ratio of 11.33, a P/E/G ratio of 0.91 and a beta of 1.29. 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 12 month low of $93.32 and a 12 month high of $129.13. The firm’s 50-day moving average is $122.20 and its 200 day moving average is $119.28.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter in the previous year, the firm posted $3.44 earnings per share. On average, research analysts anticipate that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.08%. Prudential Financial’s payout ratio is currently 46.22%.

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.