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

Centaurus Financial Inc. lessened its position in Prudential Financial, Inc. (NYSE:PRU) by 5.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Prudential Financial by 0.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 498,247 shares of the financial services provider’s stock worth $58,495,000 after buying an additional 2,001 shares during the period. Bayesian Capital Management LP purchased a new stake in Prudential Financial in the first quarter worth $247,000. Janus Henderson Group PLC lifted its position in shares of Prudential Financial by 49.5% during the first quarter. Janus Henderson Group PLC now owns 80,148 shares of the financial services provider’s stock worth $9,409,000 after purchasing an additional 26,520 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Prudential Financial by 35.5% during the first quarter. Tidal Investments LLC now owns 19,524 shares of the financial services provider’s stock valued at $2,292,000 after purchasing an additional 5,111 shares during the period. Finally, Comerica Bank increased its stake in Prudential Financial by 28.2% in the 1st quarter. Comerica Bank now owns 100,035 shares of the financial services provider’s stock worth $11,744,000 after buying an additional 22,017 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Wells Fargo & Company increased their price objective on Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Morgan Stanley decreased their target price on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Piper Sandler raised their price target on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their price objective for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. Eleven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $125.92.

Insider Transactions at Prudential Financial

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

Prudential Financial Stock Performance

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

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.01. The business had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter last year, the company earned $3.44 earnings per share. Equities research analysts predict 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 is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.01%. Prudential Financial’s dividend payout ratio is currently 46.22%.

Prudential Financial Company 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.