Creative Planning Sells 2,752 Shares of Prudential Financial, Inc. (NYSE:PRU)

Creative Planning cut its holdings in Prudential Financial, Inc. (NYSE:PRU) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,462 shares of the financial services provider’s stock after selling 2,752 shares during the period. Creative Planning’s holdings in Prudential Financial were worth $11,197,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Cullinan Associates Inc. increased its holdings in shares of Prudential Financial by 2,355.0% in the 1st quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock worth $17,798,000 after buying an additional 145,423 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of Prudential Financial by 44.9% during the 1st quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock worth $27,327,000 after purchasing an additional 71,274 shares during the period. Brookstone Capital Management boosted its stake in shares of Prudential Financial by 1,635.0% during the 1st quarter. Brookstone Capital Management now owns 87,201 shares of the financial services provider’s stock worth $10,237,000 after purchasing an additional 82,175 shares during the period. ORG Partners LLC purchased a new position in shares of Prudential Financial during the 2nd quarter worth about $156,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Prudential Financial by 25.0% during the 1st quarter. Russell Investments Group Ltd. now owns 180,555 shares of the financial services provider’s stock worth $21,171,000 after purchasing an additional 36,159 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PRU has been the subject of several research reports. Wells Fargo & Company boosted their price objective on shares of Prudential Financial from $113.00 to $116.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Barclays assumed coverage on shares of Prudential Financial in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 price target for the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a research report on Wednesday, August 21st. JPMorgan Chase & Co. boosted their price objective on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Finally, UBS Group boosted their price objective 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 equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $123.69.

Prudential Financial Trading Up 0.0 %

Shares of Prudential Financial stock opened at $125.63 on Wednesday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. Prudential Financial, Inc. has a 12-month low of $87.95 and a 12-month high of $128.52. The firm has a market capitalization of $44.85 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 0.97 and a beta of 1.30. The firm’s 50 day simple moving average is $119.51 and its two-hundred day simple moving average is $117.64.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Analysts predict that Prudential Financial, Inc. will post 13.3 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were paid a dividend of $1.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.14%. Prudential Financial’s payout ratio is 66.84%.

Insider Buying and Selling at Prudential Financial

In other news, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the sale, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at $1,648,705.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were acquired at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the acquisition, the insider now directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction 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 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 currently owned by company insiders.

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.