Prudential Financial, Inc. (NYSE:PRU) is Orca Investment Management LLC’s 7th Largest Position

Orca Investment Management LLC boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 28,802 shares of the financial services provider’s stock after buying an additional 185 shares during the period. Prudential Financial makes up approximately 3.2% of Orca Investment Management LLC’s holdings, making the stock its 7th largest holding. Orca Investment Management LLC’s holdings in Prudential Financial were worth $3,375,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Creekmur Asset Management LLC raised 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 valued at $29,000 after acquiring an additional 108 shares during the period. Lynx Investment Advisory purchased a new stake in Prudential Financial in the 2nd quarter worth about $29,000. Crewe Advisors LLC bought a new stake in Prudential Financial in the first quarter worth about $33,000. ESL Trust Services LLC purchased a new position in shares of Prudential Financial during the first quarter valued at approximately $34,000. Finally, Riverview Trust Co bought a new position in shares of Prudential Financial during the first quarter valued at approximately $37,000. 56.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were acquired at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the purchase, the insider now directly owns 3,883,390 shares of the company’s stock, valued at approximately $107,065,062.30. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Trading Down 3.8 %

PRU opened at $113.25 on Friday. 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 market cap of $40.66 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 0.94 and a beta of 1.30. Prudential Financial, Inc. has a 12 month low of $87.95 and a 12 month high of $128.52. The stock has a fifty day moving average price of $118.15 and a 200-day moving average price of $115.68.

Prudential Financial (NYSE:PRU) last announced its earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. As a group, equities research analysts anticipate that Prudential Financial, Inc. will post 13.33 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th will be paid a $1.30 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $5.20 annualized dividend and a yield of 4.59%. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

Wall Street Analyst Weigh In

PRU has been the subject of a number of recent analyst reports. Wells Fargo & Company upgraded Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price objective for the company in a report on Monday, August 12th. Morgan Stanley lowered their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Citigroup upped their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $121.00 target price on shares of Prudential Financial in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $119.23.

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.