Oppenheimer & Co. Inc. Sells 10,374 Shares of Prudential Financial, Inc. (NYSE:PRU)

Oppenheimer & Co. Inc. cut its holdings in Prudential Financial, Inc. (NYSE:PRU) by 31.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,907 shares of the financial services provider’s stock after selling 10,374 shares during the period. Oppenheimer & Co. Inc.’s holdings in Prudential Financial were worth $2,774,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PRU. Annex Advisory Services LLC increased its stake in Prudential Financial by 3.4% during the second quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock valued at $289,000 after acquiring an additional 81 shares during the period. Raymond James Trust N.A. boosted its holdings in shares of Prudential Financial by 1.1% in the 2nd quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock worth $951,000 after acquiring an additional 87 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in shares of Prudential Financial by 1.2% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock worth $891,000 after acquiring an additional 89 shares in the last quarter. Quotient Wealth Partners LLC boosted its holdings in shares of Prudential Financial by 3.9% in the 2nd quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock worth $284,000 after acquiring an additional 92 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC lifted its holdings in Prudential Financial by 4.6% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 2,131 shares of the financial services provider’s stock worth $250,000 after buying an additional 94 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on PRU. 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 report on Monday, August 19th. Wells Fargo & Company upped their target price on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $121.00 target price on shares of Prudential Financial in a research report on Wednesday, August 21st. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their price objective for the company from $117.00 to $140.00 in a research report on Thursday. Finally, Bank of America upped their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Eleven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and an average price target of $125.69.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the stock in a transaction dated Tuesday, October 8th. The shares were bought at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the acquisition, the insider now owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. This trade represents a 6.61 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Prudential Financial Trading Up 1.3 %

Prudential Financial stock opened at $127.41 on Friday. The firm has a 50-day moving average of $122.20 and a 200-day moving average of $119.22. Prudential Financial, Inc. has a one year low of $93.32 and a one year high of $129.13. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market cap of $45.36 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 0.89 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The business had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same period last year, the business posted $3.44 EPS. On average, equities analysts expect that Prudential Financial, Inc. will post 13.33 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.08%. Prudential Financial’s dividend payout ratio is currently 46.22%.

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.