Prudential Financial, Inc. $PRU Shares Sold by Corient Private Wealth LP

by · The Markets Daily

Corient Private Wealth LP reduced its position in Prudential Financial, Inc. (NYSE:PRU – Free Report) by 15.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 144,697 shares of the financial services provider’s stock after selling 25,771 shares during the period. Corient Private Wealth LP’s holdings in Prudential Financial were worth $15,617,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Jessup Wealth Management Inc bought a new position in Prudential Financial during the 4th quarter worth approximately $25,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Prudential Financial in the 4th quarter valued at approximately $26,000. SJS Investment Consulting Inc. raised its position in shares of Prudential Financial by 93.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 134 shares in the last quarter. Coston McIsaac & Partners lifted its stake in Prudential Financial by 93.4% during the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 128 shares during the last quarter. Finally, Basepoint Wealth LLC acquired a new position in Prudential Financial in the fourth quarter worth $30,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total value of $5,314,963.50. Following the completion of the transaction, the insider owned 7,973,657 shares in the company, valued at approximately $197,348,010.75. This represents a 2.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ann M. Kappler sold 7,652 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $125.01, for a total transaction of $956,576.52. Following the completion of the sale, the executive vice president owned 14,407 shares in the company, valued at $1,801,019.07. The trade was a 34.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.05% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU opened at $119.80 on Friday. Prudential Financial, Inc. has a 12 month low of $91.89 and a 12 month high of $127.72. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a fifty day moving average price of $117.95 and a 200 day moving average price of $106.27. The company has a market cap of $41.33 billion, a P/E ratio of 10.85, a PEG ratio of 2.25 and a beta of 0.84.

Prudential Financial (NYSE:PRU – Get Free Report) last posted its earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.56. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.The company had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.36 billion. During the same period last year, the business posted $3.58 earnings per share. On average, research analysts forecast that Prudential Financial, Inc. will post 14.51 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, August 25th. Prudential Financial’s dividend payout ratio (DPR) is 50.72%.

Analyst Ratings Changes

Several research firms have weighed in on PRU. Argus lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Zacks Research upgraded shares of Prudential Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, June 12th. Weiss Ratings raised shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. JPMorgan Chase & Co. boosted their price objective on shares of Prudential Financial from $129.00 to $131.00 and gave the company a “neutral” rating in a research report on Monday, August 17th. Finally, Wells Fargo & Company increased their price objective on shares of Prudential Financial from $103.00 to $110.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $109.31.

Get Our Latest Stock Report on Prudential Financial

About Prudential Financial

(Free Report)

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.

Featured Stories

Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial, Inc. (NYSE:PRU – Free Report).