Toronto Dominion Bank Sells 22,251 Shares of Prudential Financial, Inc. (NYSE:PRU)

Toronto Dominion Bank reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 10.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 188,037 shares of the financial services provider’s stock after selling 22,251 shares during the quarter. Toronto Dominion Bank owned approximately 0.05% of Prudential Financial worth $22,036,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PRU. Creekmur Asset Management LLC grew its stake in shares of Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 108 shares during the period. Lynx Investment Advisory bought a new position in shares of Prudential Financial in the second quarter worth approximately $29,000. Crewe Advisors LLC bought a new stake in shares of Prudential Financial during the 1st quarter valued at $33,000. ESL Trust Services LLC purchased a new position in shares of Prudential Financial during the 1st quarter valued at $34,000. Finally, Riverview Trust Co bought a new position in Prudential Financial in the 1st quarter worth $37,000. Institutional investors own 56.83% of the company’s stock.

Insider Activity

In related news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction 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 completion of the transaction, 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 SEC, which is available through this hyperlink. In other news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction that occurred 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 owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Prudential Financial Stock Performance

NYSE PRU opened at $120.54 on Friday. The company has a market cap of $43.27 billion, a P/E ratio of 20.50, a P/E/G ratio of 0.96 and a beta of 1.30. The business’s 50 day moving average price is $117.45 and its 200-day moving average price is $116.55. Prudential Financial, Inc. has a fifty-two week low of $87.95 and a fifty-two week high of $128.52. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13.

Prudential Financial (NYSE:PRU) last announced its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share 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 during the quarter, compared to analysts’ expectations of $13.78 billion. Sell-side analysts predict that Prudential Financial, Inc. will post 13.3 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.31%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Analyst Ratings Changes

PRU has been the topic of several research analyst reports. Barclays started coverage on Prudential Financial in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 price objective on the stock. Argus raised Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st. Morgan Stanley dropped 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, Citigroup lifted their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and a consensus target price 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.