Prudential Financial, Inc. (PRU) Shares Sold by Harvey Capital Management Inc.
Harvey Capital Management Inc. lessened its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,950 shares of the financial services provider’s stock after selling 450 shares during the period. Harvey Capital Management Inc.’s holdings in Prudential Financial were worth $2,014,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in PRU. Green Square Capital LLC grew its holdings in shares of Prudential Financial by 0.3% during the 2nd quarter. Green Square Capital LLC now owns 2,065 shares of the financial services provider’s stock worth $223,000 after acquiring an additional 7 shares during the period. Hudock Capital Group LLC grew its holdings in shares of Prudential Financial by 0.7% during the 2nd quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock worth $123,000 after acquiring an additional 8 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of Prudential Financial by 0.9% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,018 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 18 shares during the period. Accurate Investment Solutions Inc. grew its holdings in shares of Prudential Financial by 2.3% during the 2nd quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock worth $180,000 after acquiring an additional 38 shares during the period. Finally, Parkwood LLC grew its holdings in shares of Prudential Financial by 1.6% during the 2nd quarter. Parkwood LLC now owns 3,041 shares of the financial services provider’s stock worth $329,000 after acquiring an additional 48 shares during the period. Institutional investors own 64.07% of the company’s stock.
Several research firms recently weighed in on PRU. Citigroup Inc. upgraded Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price target on the stock in a research note on Tuesday, October 17th. Morgan Stanley upped their price target on Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 5th. Royal Bank Of Canada restated a “hold” rating and issued a $119.00 price target on shares of Prudential Financial in a research note on Friday, November 3rd. Wells Fargo & Company restated a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. Finally, BidaskClub upgraded Prudential Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Prudential Financial has an average rating of “Buy” and a consensus price target of $115.64.
In other Prudential Financial news, insider Nicholas C. Silitch sold 44,860 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $111.77, for a total value of $5,014,002.20. Following the completion of the sale, the insider now owns 27,927 shares in the company, valued at approximately $3,121,400.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Charles F. Lowrey sold 44,630 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $111.91, for a total value of $4,994,543.30. Following the completion of the sale, the executive vice president now owns 79,354 shares of the company’s stock, valued at approximately $8,880,506.14. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.
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Shares of Prudential Financial, Inc. (NYSE PRU) traded up $0.04 during trading on Wednesday, reaching $110.06. The company had a trading volume of 1,271,600 shares, compared to its average volume of 1,850,889. Prudential Financial, Inc. has a one year low of $97.88 and a one year high of $115.26. The company has a market cap of $46,648.48, a PE ratio of 10.63, a P/E/G ratio of 1.25 and a beta of 1.56. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.34.
Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, November 1st. The financial services provider reported $3.01 EPS for the quarter, topping the Zacks’ consensus estimate of $2.71 by $0.30. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. The company had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $12.24 billion. During the same period last year, the firm earned $2.66 EPS. equities research analysts anticipate that Prudential Financial, Inc. will post 10.38 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Monday, November 27th will be issued a $0.75 dividend. The ex-dividend date is Friday, November 24th. This represents a $3.00 dividend on an annualized basis and a yield of 2.73%. Prudential Financial’s dividend payout ratio is currently 30.18%.
Prudential Financial Profile
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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