Prudential Financial, Inc. (NYSE:PRU) Stock Holdings Lifted by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lifted its position in Prudential Financial, Inc. (NYSE:PRU) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,775 shares of the financial services provider’s stock after acquiring an additional 99 shares during the period. Pinnacle Associates Ltd.’s holdings in Prudential Financial were worth $1,910,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in PRU. Creekmur Asset Management LLC grew its position in Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares in the last quarter. Lynx Investment Advisory purchased a new position in Prudential Financial during the second quarter valued at approximately $29,000. Strategic Financial Concepts LLC grew 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 in the last quarter. Crewe Advisors LLC purchased a new position in Prudential Financial during the first quarter valued at approximately $33,000. Finally, ESL Trust Services LLC purchased a new position in Prudential Financial during the first quarter valued at approximately $34,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Price Performance

NYSE:PRU opened at $121.28 on Friday. The stock has a market cap of $43.30 billion, a P/E ratio of 10.78, a PEG ratio of 0.97 and a beta of 1.30. Prudential Financial, Inc. has a one year low of $89.90 and a one year high of $128.52. The company has a fifty day moving average price of $121.10 and a 200 day moving average price of $118.25. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS 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 analysts’ expectations of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.66%. During the same period in the prior year, the company earned $3.44 EPS. Analysts anticipate that Prudential Financial, Inc. will post 13.3 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is 46.22%.

Insider Activity

In other news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the transaction, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the transaction, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the company’s stock in a transaction dated Tuesday, October 8th. The stock was acquired at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the purchase, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. TD Cowen assumed coverage on shares of Prudential Financial in a research report on Wednesday, October 9th. They set a “hold” rating and a $130.00 price objective on the stock. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $113.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. 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 research report on Tuesday, August 13th. Morgan Stanley decreased 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 report on Monday, August 19th. Finally, Barclays boosted their target price on shares of Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Prudential Financial has an average rating of “Hold” and a consensus price target of $123.77.

Prudential Financial 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.