D.A. Davidson & CO. Sells 22,631 Shares of Prudential Financial, Inc. $PRU

Key Points

• D.A. Davidson reduced its Prudential Financial position by 17.1%, selling 22,631 shares and retaining 109,727 shares valued at approximately $12.5 million. Institutional investors and hedge funds collectively own 56.83% of PRU.
• Prudential’s stock was trading around $117.04, with a market capitalization of $40.38 billion. The company recently exceeded earnings expectations, reporting quarterly EPS of $4.08 versus the $3.52 consensus estimate.
• Prudential declared a quarterly dividend of $1.40 per share, equating to an annualized $5.60 dividend and a 4.8% yield. Analysts remain cautious, with a consensus “Reduce” rating and an average price target of $111.27.

D.A. Davidson & CO. reduced its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 17.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 109,727 shares of the financial services provider's stock after selling 22,631 shares during the period. D.A. Davidson & CO.'s holdings in Prudential Financial were worth $12,463,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Archer Investment Corp acquired a new position in Prudential Financial during the 2nd quarter worth $26,000. SJS Investment Consulting Inc. boosted its holdings in Prudential Financial by 93.1% during the first quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 134 shares during the period. MADDEN SECURITIES Corp acquired a new stake in shares of Prudential Financial in the third quarter valued at about $38,000. Center for Financial Planning Inc. grew its position in shares of Prudential Financial by 90.4% in the third quarter. Center for Financial Planning Inc. now owns 339 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 161 shares during the last quarter. Finally, EFG International AG increased its stake in shares of Prudential Financial by 452.2% in the second quarter. EFG International AG now owns 381 shares of the financial services provider's stock worth $41,000 after purchasing an additional 312 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Trading Up 1.4%

Prudential Financial stock opened at $117.04 on Friday. The business has a 50 day moving average price of $117.05 and a two-hundred day moving average price of $108.80. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.62. Prudential Financial, Inc. has a 12 month low of $91.89 and a 12 month high of $127.72. The stock has a market cap of $40.38 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 1.93 and a beta of 0.85.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.52 by $0.56. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.36 billion. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%. During the same quarter last year, the firm earned $3.58 EPS. As a group, equities analysts forecast that Prudential Financial, Inc. will post 13.52 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th were paid a dividend of $1.40 per share. The ex-dividend date was Tuesday, August 25th. This represents a $5.60 dividend on an annualized basis and a yield of 4.8%. Prudential Financial's payout ratio is currently 50.72%.

Analyst Upgrades and Downgrades

PRU has been the subject of several research analyst reports. Keefe, Bruyette & Woods cut their price objective on Prudential Financial from $123.00 to $119.00 and set a "market perform" rating for the company in a research report on Friday, October 16th. Deutsche Bank Aktiengesellschaft lowered their target price on Prudential Financial from $105.00 to $102.00 and set a "hold" rating on the stock in a report on Friday, October 23rd. Bank of America dropped their price target on Prudential Financial from $132.00 to $130.00 and set a "neutral" rating on the stock in a research report on Monday, October 12th. JPMorgan Chase & Co. cut their price target on Prudential Financial from $127.00 to $124.00 and set a "neutral" rating for the company in a report on Thursday, October 22nd. Finally, Mizuho set a $108.00 price objective on Prudential Financial in a research report on Monday, October 12th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $111.27.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Ann Kappler sold 7,652 shares of the business's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $125.01, for a total value of $956,576.52. Following the sale, the executive vice president owned 14,407 shares of the company's stock, valued at $1,801,019.07. The trade was a 34.69% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.05% of the stock is owned by company insiders.

Prudential Financial Profile

Prudential Financial, Inc NYSE: PRU is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in Newark, New Jersey, in 1875, the company serves individuals, businesses and institutional investors through a range of businesses and distribution channels.

In the United States, Prudential offers life insurance, annuities, retirement plans and employee benefits, including group life, disability and dental insurance.

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