Orca Investment Management LLC Cuts Stake in Prudential Financial, Inc. $PRU

Orca Investment Management LLC lowered its position in Prudential Financial, Inc. (NYSE:PRU) by 6.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,865 shares of the financial services provider’s stock after selling 1,844 shares during the quarter. Prudential Financial makes up approximately 2.4% of Orca Investment Management LLC’s portfolio, making the stock its 11th biggest position. Orca Investment Management LLC’s holdings in Prudential Financial were worth $2,671,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Proffitt & Goodson Inc. boosted its stake in Prudential Financial by 12.7% in the second quarter. Proffitt & Goodson Inc. now owns 871 shares of the financial services provider’s stock worth $94,000 after buying an additional 98 shares in the last quarter. SPC Financial Inc. boosted its stake in Prudential Financial by 2.6% in the first quarter. SPC Financial Inc. now owns 3,973 shares of the financial services provider’s stock worth $444,000 after buying an additional 100 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its stake in Prudential Financial by 3.8% in the first quarter. NorthCrest Asset Manangement LLC now owns 2,738 shares of the financial services provider’s stock worth $306,000 after buying an additional 101 shares in the last quarter. Thrive Wealth Management LLC boosted its stake in shares of Prudential Financial by 2.6% during the second quarter. Thrive Wealth Management LLC now owns 4,007 shares of the financial services provider’s stock valued at $430,000 after purchasing an additional 101 shares during the period. Finally, Eagle Capital Management LLC boosted its stake in shares of Prudential Financial by 0.3% during the second quarter. Eagle Capital Management LLC now owns 35,806 shares of the financial services provider’s stock valued at $3,847,000 after purchasing an additional 108 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $99.08 on Friday. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. The business has a fifty day moving average price of $105.15 and a 200-day moving average price of $104.47. The company has a market capitalization of $34.88 billion, a PE ratio of 21.97, a PEG ratio of 0.88 and a beta of 1.04.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The firm had revenue of $8.35 billion during the quarter. As a group, equities analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.35 per share. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 annualized dividend and a dividend yield of 5.5%. Prudential Financial’s dividend payout ratio (DPR) is presently 119.73%.

Insider Activity at Prudential Financial

In related news, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the sale, the executive vice president directly owned 21,506 shares of the company’s stock, valued at $2,358,132.90. This trade represents a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of analyst reports. Morgan Stanley increased their price objective on Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Piper Sandler dropped their price objective on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a research note on Wednesday, July 16th. Weiss Ratings restated a “hold (c)” rating on shares of Prudential Financial in a report on Wednesday. Wall Street Zen upgraded Prudential Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Wells Fargo & Company decreased their price objective on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a report on Wednesday, July 16th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $122.27.

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.