Greenleaf Trust Sells 1,869 Shares of Prudential Financial, Inc. $PRU

Greenleaf Trust cut its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 19.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,591 shares of the financial services provider’s stock after selling 1,869 shares during the quarter. Greenleaf Trust’s holdings in Prudential Financial were worth $816,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its position in shares of Prudential Financial by 90.2% during the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 111 shares in the last quarter. AlphaQuest LLC boosted its position in shares of Prudential Financial by 12,250.0% during the first quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 245 shares in the last quarter. North Capital Inc. bought a new stake in Prudential Financial in the first quarter worth $28,000. Cheviot Value Management LLC bought a new stake in Prudential Financial in the first quarter worth $26,000. Finally, Clearstead Trust LLC boosted its holdings in Prudential Financial by 350.8% in the first quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 207 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PRU has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their target price on Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Wolfe Research initiated coverage on Prudential Financial in a report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Barclays boosted their target price on Prudential Financial from $119.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. Wall Street Zen raised Prudential Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Wells Fargo & Company dropped their target price on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 16th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Prudential Financial has a consensus rating of “Hold” and a consensus price target of $122.08.

Prudential Financial Trading Down 1.1%

Shares of NYSE:PRU opened at $101.87 on Friday. The company has a market cap of $35.86 billion, a P/E ratio of 22.59, a PEG ratio of 0.91 and a beta of 1.04. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The stock’s fifty day moving average price is $105.21 and its 200-day moving average price is $104.91.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.36. The firm had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.47 billion. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $3.39 earnings per share. Sell-side analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Tuesday, August 19th. Prudential Financial’s dividend payout ratio is 119.73%.

Insider Buying and Selling

In related news, EVP Ann M. Kappler sold 4,000 shares of the company’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the sale, the executive vice president owned 21,506 shares in the company, valued at approximately $2,358,132.90. This represents a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

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.