Centaurus Financial Inc. Sells 94 Shares of Prudential Financial, Inc. (NYSE:PRU)

Centaurus Financial Inc. reduced its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 5.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,504 shares of the financial services provider’s stock after selling 94 shares during the quarter. Centaurus Financial Inc.’s holdings in Prudential Financial were worth $182,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PRU. Lynx Investment Advisory purchased a new stake in Prudential Financial during the 2nd quarter valued at $29,000. Ashton Thomas Securities LLC bought a new position in shares of Prudential Financial during the third quarter valued at $31,000. Strategic Financial Concepts LLC increased its holdings in Prudential Financial by 1,312.4% in the 2nd 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 in the last quarter. Bank & Trust Co purchased a new position in Prudential Financial in the 2nd quarter worth about $37,000. Finally, Hobbs Group Advisors LLC bought a new position in Prudential Financial during the 2nd quarter valued at about $38,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Prudential Financial

In related news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the stock in a transaction on Monday, November 25th. The shares were acquired at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the transaction, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

Prudential Financial Stock Performance

NYSE:PRU opened at $129.52 on Thursday. The stock has a 50-day moving average price of $123.93 and a 200 day moving average price of $119.96. The stock has a market capitalization of $46.11 billion, a P/E ratio of 11.51, a P/E/G ratio of 0.91 and a beta of 1.29. Prudential Financial, Inc. has a 12-month low of $95.10 and a 12-month high of $130.55. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $14.57 billion. During the same period last year, the firm posted $3.44 EPS. Equities research analysts forecast that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. UBS Group increased their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $121.00 target price on shares of Prudential Financial in a research report on Wednesday, August 21st. Wells Fargo & Company upped their price target 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. Morgan Stanley dropped their price objective on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Finally, Argus raised shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Eleven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $125.92.

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.