Graypoint LLC Sells 143 Shares of Prudential Financial, Inc. (NYSE:PRU)

Graypoint LLC reduced its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,922 shares of the financial services provider’s stock after selling 143 shares during the period. Graypoint LLC’s holdings in Prudential Financial were worth $838,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Creekmur Asset Management LLC increased its stake in shares of Prudential Financial by 78.8% in the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 108 shares in the last quarter. Lynx Investment Advisory bought a new position in Prudential Financial during the second quarter valued at $29,000. Strategic Financial Concepts LLC lifted its position in Prudential Financial by 1,312.4% during the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 25,027 shares during the last quarter. Crewe Advisors LLC bought a new position in Prudential Financial during the first quarter valued at $33,000. Finally, ESL Trust Services LLC bought a new stake in shares of Prudential Financial in the 1st quarter worth about $34,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now directly owns 14,535 shares in the company, valued at $1,648,705.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was purchased at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the transaction, the insider now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the sale, the executive vice president now owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PRU. TD Cowen started coverage on shares of Prudential Financial in a research report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 price objective for the company. Piper Sandler boosted their price objective on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Citigroup boosted their price objective on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Bank of America upped their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. One research 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 data from MarketBeat, Prudential Financial has an average rating of “Hold” and an average target price of $123.85.

Prudential Financial Stock Performance

PRU opened at $123.86 on Friday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The company has a market cap of $44.09 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 0.86 and a beta of 1.29. Prudential Financial, Inc. has a 52-week low of $90.29 and a 52-week high of $129.13. The firm’s fifty day simple moving average is $121.38 and its two-hundred day simple moving average is $118.62.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.01. The business had revenue of $19.48 billion for 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 period last year, the firm posted $3.44 earnings per share. Equities analysts anticipate that Prudential Financial, Inc. will post 13.32 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is 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.