Procyon Advisors LLC Purchases 888 Shares of Prudential Financial, Inc. (NYSE:PRU)

by · The Cerbat Gem

Procyon Advisors LLC raised its position in Prudential Financial, Inc. (NYSE:PRU – Free Report) by 5.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,821 shares of the financial services provider’s stock after purchasing an additional 888 shares during the period. Procyon Advisors LLC’s holdings in Prudential Financial were worth $2,158,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. increased its stake in Prudential Financial by 42.1% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 992 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 294 shares in the last quarter. Smith Chas P & Associates PA Cpas bought a new stake in shares of Prudential Financial during the third quarter worth $202,000. Thomasville National Bank increased its position in shares of Prudential Financial by 13.4% during the third quarter. Thomasville National Bank now owns 2,541 shares of the financial services provider’s stock worth $308,000 after acquiring an additional 300 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in shares of Prudential Financial by 2.1% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 13,803 shares of the financial services provider’s stock worth $1,672,000 after acquiring an additional 281 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. increased its position in shares of Prudential Financial by 8.4% during the third quarter. Redhawk Wealth Advisors Inc. now owns 9,321 shares of the financial services provider’s stock worth $1,129,000 after acquiring an additional 724 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was purchased at an average price 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. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the stock in a transaction on Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the purchase, the insider now directly owns 4,208,549 shares in the company, 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 legal filing with the SEC, which is available through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s 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 transaction, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Prudential Financial Stock Performance

NYSE PRU opened at $125.17 on Tuesday. The firm has a 50-day moving average of $117.33 and a 200-day moving average of $117.21. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a market cap of $44.94 billion, a PE ratio of 21.29, a P/E/G ratio of 0.97 and a beta of 1.30. 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 posted 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). The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 13.28 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is presently 88.44%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Argus raised shares of Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Bank of America increased their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. raised their target price on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. TD Cowen started coverage on shares of Prudential Financial in a research report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 target price for the company. Finally, Citigroup raised their target price 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. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $123.69.

Read Our Latest Stock Analysis on PRU

Prudential Financial Profile

(Free Report)

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.

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