Raleigh Capital Management Inc. Has $673,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Raleigh Capital Management Inc. reduced its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 9.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,559 shares of the financial services provider’s stock after selling 603 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Prudential Financial were worth $673,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Venture Visionary Partners LLC increased its position in Prudential Financial by 2.6% in the third quarter. Venture Visionary Partners LLC now owns 27,056 shares of the financial services provider’s stock worth $3,277,000 after purchasing an additional 673 shares during the period. McClarren Financial Advisors Inc. lifted its holdings in shares of Prudential Financial by 91.2% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 671 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 320 shares in the last quarter. Key Client Fiduciary Advisors LLC lifted its holdings in shares of Prudential Financial by 0.6% during the 3rd quarter. Key Client Fiduciary Advisors LLC now owns 21,578 shares of the financial services provider’s stock valued at $2,613,000 after purchasing an additional 119 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Prudential Financial by 0.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 279,890 shares of the financial services provider’s stock valued at $33,895,000 after purchasing an additional 2,569 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in Prudential Financial by 90.4% during the 3rd quarter. Blue Trust Inc. now owns 4,843 shares of the financial services provider’s stock worth $567,000 after acquiring an additional 2,300 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial 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 completion of the sale, the executive vice president now directly owns 14,535 shares in the company, valued at $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the sale, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were acquired 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 of the company’s stock, valued at approximately $116,071,781.42. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PRU shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a research note on Wednesday, August 21st. TD Cowen assumed coverage on Prudential Financial in a report on Wednesday, October 9th. They set a “hold” rating and a $130.00 target price on the stock. Morgan Stanley reduced their price objective on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. JPMorgan Chase & Co. increased their target price on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Finally, Jefferies Financial Group dropped their target price on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $123.69.

Prudential Financial Price Performance

PRU opened at $125.57 on Tuesday. 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 capitalization of $45.08 billion, a P/E ratio of 21.36, a P/E/G ratio of 0.98 and a beta of 1.30. The company’s 50-day simple moving average is $119.19 and its two-hundred day simple moving average is $117.57. Prudential Financial, Inc. has a 52-week low of $87.95 and a 52-week high of $128.52.

Prudential Financial (NYSE:PRU) last released its earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. As a group, analysts predict that Prudential Financial, Inc. will post 13.29 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were given a $1.30 dividend. 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 dividend payout ratio is presently 88.44%.

About Prudential Financial

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.