Carolina Wealth Advisors LLC Cuts Stake in Prudential Financial, Inc. (NYSE:PRU)

Carolina Wealth Advisors LLC decreased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 95.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 235 shares of the financial services provider’s stock after selling 4,798 shares during the period. Carolina Wealth Advisors LLC’s holdings in Prudential Financial were worth $28,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PRU. Creekmur Asset Management LLC boosted its stake in Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after buying an additional 108 shares during the period. Lynx Investment Advisory purchased a new position in shares of Prudential Financial during the second quarter valued at approximately $29,000. Strategic Financial Concepts LLC raised its holdings in shares of Prudential Financial by 1,312.4% in the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after buying an additional 25,027 shares during the period. Crewe Advisors LLC purchased a new position in Prudential Financial during the 1st quarter valued at $33,000. Finally, ESL Trust Services LLC bought a new position in Prudential Financial in the 1st quarter valued at $34,000. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Stock Performance

Shares of NYSE PRU traded down $1.73 during midday trading on Monday, reaching $125.67. 448,331 shares of the stock were exchanged, compared to its average volume of 1,485,397. The firm has a 50-day simple moving average of $118.85 and a two-hundred day simple moving average of $117.50. The firm has a market cap of $45.12 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 0.98 and a beta of 1.30. Prudential Financial, Inc. has a twelve month low of $87.95 and a twelve month high of $128.52. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65.

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

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were issued a $1.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.14%. Prudential Financial’s dividend payout ratio is presently 88.44%.

Wall Street Analyst Weigh In

PRU has been the topic of a number of research analyst reports. Piper Sandler upped their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a research note on Wednesday, August 21st. Barclays assumed coverage on Prudential Financial in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 price objective on the stock. Citigroup lifted their target price on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Morgan Stanley decreased their price objective on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $123.69.

Insider Buying and Selling at Prudential Financial

In other news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 owns 14,535 shares of the company’s stock, valued at $1,648,705.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the transaction, the executive vice president now directly owns 14,535 shares in the company, valued at approximately $1,648,705.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

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.