Evergreen Capital Management LLC Sells 6,350 Shares of Prudential Financial, Inc. (NYSE:PRU)

Evergreen Capital Management LLC lessened its holdings in Prudential Financial, Inc. (NYSE:PRU) by 15.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,492 shares of the financial services provider’s stock after selling 6,350 shares during the quarter. Evergreen Capital Management LLC’s holdings in Prudential Financial were worth $4,159,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PRU. Gilbert & Cook Inc. increased its holdings in shares of Prudential Financial by 3.5% during the fourth quarter. Gilbert & Cook Inc. now owns 10,226 shares of the financial services provider’s stock worth $1,061,000 after purchasing an additional 344 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Prudential Financial by 34.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 783 shares of the financial services provider’s stock valued at $81,000 after acquiring an additional 200 shares in the last quarter. SageView Advisory Group LLC lifted its position in shares of Prudential Financial by 18.5% during the 4th quarter. SageView Advisory Group LLC now owns 2,939 shares of the financial services provider’s stock valued at $313,000 after acquiring an additional 459 shares during the period. Congress Wealth Management LLC DE acquired a new stake in shares of Prudential Financial during the 4th quarter worth $235,000. Finally, Heritage Wealth Advisors increased its position in shares of Prudential Financial by 30.3% in the fourth quarter. Heritage Wealth Advisors now owns 1,811 shares of the financial services provider’s stock worth $188,000 after purchasing an additional 421 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Caroline Feeney sold 1,110 shares of the 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 directly 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 is available at this link. Also, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now directly owns 14,535 shares in the company, valued at $1,648,705.05. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Stock Performance

Shares of PRU opened at $120.79 on Tuesday. The stock has a 50-day moving average of $117.73 and a 200-day moving average of $116.46. Prudential Financial, Inc. has a one year low of $87.95 and a one year high of $128.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. The company has a market cap of $43.36 billion, a PE ratio of 20.54, a P/E/G ratio of 0.91 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing the consensus estimate of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. On average, equities research analysts predict that Prudential Financial, Inc. will post 13.31 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders 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 4.30%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PRU. UBS Group increased 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. Wells Fargo & Company upgraded shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price target on the stock in a research report on Monday, August 12th. Citigroup boosted their price objective on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Argus raised Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Barclays initiated coverage on Prudential Financial in a report on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price target for the company. One investment 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 stock. According to data from MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and an average price target of $120.83.

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.