Plimoth Trust Co. LLC Sells 260 Shares of Prudential Financial, Inc. (NYSE:PRU)

21 Oct 2024, 21:54 by Danessa Lincoln · The Markets Daily

Plimoth Trust Co. LLC lessened its position in shares of Prudential Financial, Inc. (NYSE:PRU – Free Report) by 6.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,070 shares of the financial services provider’s stock after selling 260 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Prudential Financial were worth $493,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PRU. Annex Advisory Services LLC grew its position in shares of Prudential Financial by 3.4% in the second quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 81 shares in the last quarter. Raymond James Trust N.A. raised its holdings in shares of Prudential Financial by 1.1% during the 2nd quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock worth $951,000 after acquiring an additional 87 shares during the period. Peoples Bank OH boosted its position in shares of Prudential Financial by 2.3% during the 1st quarter. Peoples Bank OH now owns 4,046 shares of the financial services provider’s stock valued at $475,000 after acquiring an additional 90 shares during the last quarter. Quotient Wealth Partners LLC increased its position in Prudential Financial by 3.9% during the second quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock worth $284,000 after purchasing an additional 92 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in Prudential Financial by 1.3% during the first quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider’s stock worth $875,000 after purchasing an additional 94 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Stock Down 1.4 %

PRU stock traded down $1.83 during midday trading on Monday, hitting $125.57. The company’s stock had a trading volume of 989,652 shares, compared to its average volume of 1,488,138. The firm has a 50-day simple moving average of $118.85 and a 200-day simple moving average of $117.50. The firm has a market capitalization of $45.08 billion, a P/E ratio of 21.35, a PEG ratio of 0.98 and a beta of 1.30. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. Prudential Financial, Inc. has a 52-week low of $87.95 and a 52-week high of $128.52.

Prudential Financial (NYSE:PRU – Get Free Report) last released its 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 during the quarter, compared to analysts’ expectations of $13.78 billion. As a group, equities analysts forecast that Prudential Financial, Inc. will post 13.29 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were issued a $1.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 annualized dividend and a yield of 4.14%. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

Insider Buying and Selling

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction that occurred 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 approximately $1,648,705.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were acquired at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the purchase, the insider now owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PRU shares. Wells Fargo & Company raised their price target on shares of Prudential Financial from $113.00 to $116.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Piper Sandler lifted their target price on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. TD Cowen began coverage on Prudential Financial in a report on Wednesday, October 9th. They set a “hold” rating and a $130.00 price target for the company. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Citigroup increased their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. One research 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 company’s stock. Based on data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and a consensus price target of $123.69.

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