Bell Bank Sells 10,706 Shares of Prudential Financial, Inc. (NYSE:PRU)

Bell Bank trimmed its stake in Prudential Financial, Inc. (NYSE:PRU) by 14.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,122 shares of the financial services provider’s stock after selling 10,706 shares during the period. Prudential Financial accounts for approximately 0.9% of Bell Bank’s holdings, making the stock its 27th largest position. Bell Bank’s holdings in Prudential Financial were worth $7,886,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PRU. Sei Investments Co. lifted its holdings in Prudential Financial by 12.9% during the first quarter. Sei Investments Co. now owns 57,853 shares of the financial services provider’s stock valued at $6,791,000 after purchasing an additional 6,609 shares in the last quarter. QRG Capital Management Inc. lifted its stake in shares of Prudential Financial by 5.2% during the 1st quarter. QRG Capital Management Inc. now owns 14,876 shares of the financial services provider’s stock valued at $1,746,000 after buying an additional 737 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Prudential Financial by 25.0% in the 1st quarter. Russell Investments Group Ltd. now owns 180,555 shares of the financial services provider’s stock worth $21,171,000 after buying an additional 36,159 shares during the period. Bleakley Financial Group LLC increased its stake in Prudential Financial by 3.2% in the 1st quarter. Bleakley Financial Group LLC now owns 8,649 shares of the financial services provider’s stock worth $1,015,000 after buying an additional 272 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in Prudential Financial by 6.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 406,295 shares of the financial services provider’s stock valued at $47,699,000 after acquiring an additional 25,196 shares during the period. 56.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the business’s 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 of the company’s stock, valued at $1,648,705.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PRU. Citigroup increased their target price on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Bank of America increased their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. TD Cowen assumed coverage on shares of Prudential Financial in a report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 target price on the stock. Wells Fargo & Company raised their target price on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Finally, UBS Group boosted their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial has an average rating of “Hold” and a consensus target price of $123.85.

Prudential Financial Price Performance

NYSE:PRU opened at $125.27 on Thursday. The firm has a market capitalization of $44.60 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 0.89 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. The business has a 50 day simple moving average of $121.65 and a 200-day simple moving average of $119.02. Prudential Financial, Inc. has a 1 year low of $92.57 and a 1 year high of $129.13.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The company had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same period last year, the company earned $3.44 earnings per share. Equities analysts forecast that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.15%. Prudential Financial’s payout ratio is 46.22%.

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.