Greenleaf Trust Reduces Stake in Prudential Financial, Inc. (NYSE:PRU)

Greenleaf Trust lowered its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 19.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 9,460 shares of the financial services provider's stock after selling 2,344 shares during the period. Greenleaf Trust's holdings in Prudential Financial were worth $1,056,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PRU. North Capital Inc. acquired a new position in Prudential Financial in the first quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new position in Prudential Financial in the first quarter valued at $30,000. Hopwood Financial Services Inc. acquired a new position in Prudential Financial in the fourth quarter valued at $34,000. Lee Danner & Bass Inc. acquired a new position in Prudential Financial in the fourth quarter valued at $35,000. Finally, TCTC Holdings LLC acquired a new position in Prudential Financial in the fourth quarter valued at $37,000. Institutional investors own 56.83% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were acquired at an average cost of $28.64 per share, for a total transaction of $48,000,009.92. Following the completion of the acquisition, the insider owned 3,168,461 shares in the company, valued at $90,744,723.04. This trade represents a 112.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PRU shares. Wall Street Zen lowered shares of Prudential Financial from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. Piper Sandler decreased their price target on shares of Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Barclays lifted their price target on shares of Prudential Financial from $109.00 to $119.00 and gave the company an "equal weight" rating in a research note on Monday. Wells Fargo & Company lifted their price target on shares of Prudential Financial from $113.00 to $116.00 and gave the company an "equal weight" rating in a research note on Thursday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $122.15.

Prudential Financial Stock Down 1.3%

Shares of NYSE:PRU traded down $1.35 during midday trading on Friday, hitting $105.80. 1,425,059 shares of the company's stock were exchanged, compared to its average volume of 1,662,865. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a 50 day moving average price of $105.18 and a 200-day moving average price of $109.03. The company has a market cap of $37.45 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.03 and a beta of 1.07. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.11. Prudential Financial had a net margin of 3.84% and a return on equity of 15.84%. The business had revenue of $13.61 billion for the quarter, compared to analysts' expectations of $14.76 billion. During the same period in the previous year, the company earned $3.12 earnings per share. The firm's revenue for the quarter was down 38.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, May 20th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend was Tuesday, May 20th. Prudential Financial's dividend payout ratio (DPR) is presently 85.58%.

Prudential Financial 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.