Cary Street Partners Financial LLC Trims Stock Holdings in Prudential Financial, Inc. $PRU

Cary Street Partners Financial LLC reduced its position in Prudential Financial, Inc. (NYSE:PRU) by 38.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 25,440 shares of the financial services provider’s stock after selling 16,055 shares during the quarter. Cary Street Partners Financial LLC’s holdings in Prudential Financial were worth $2,872,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Prudential Financial by 3.7% in the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after buying an additional 133 shares during the period. Empowered Funds LLC boosted its stake in shares of Prudential Financial by 30.5% in the 1st quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock valued at $1,976,000 after buying an additional 4,134 shares during the period. Brown Advisory Inc. boosted its stake in shares of Prudential Financial by 3.5% in the 2nd quarter. Brown Advisory Inc. now owns 4,164 shares of the financial services provider’s stock valued at $447,000 after buying an additional 140 shares during the period. AXA S.A. boosted its stake in shares of Prudential Financial by 25.8% in the 2nd quarter. AXA S.A. now owns 56,700 shares of the financial services provider’s stock valued at $6,092,000 after buying an additional 11,630 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in shares of Prudential Financial by 15.1% in the 2nd quarter. NewEdge Advisors LLC now owns 37,277 shares of the financial services provider’s stock valued at $4,005,000 after buying an additional 4,895 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PRU. UBS Group decreased their price objective on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Jefferies Financial Group cut Prudential Financial from a “buy” rating to a “hold” rating and decreased their price objective for the company from $124.00 to $98.00 in a research note on Wednesday, April 22nd. Bank of America cut their target price on Prudential Financial from $112.00 to $104.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Evercore reissued a “negative” rating on shares of Prudential Financial in a research report on Friday, March 6th. Finally, Barclays raised their target price on Prudential Financial from $89.00 to $90.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 6th. Nine research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $101.50.

Prudential Financial Trading Down 1.2%

NYSE:PRU opened at $101.41 on Thursday. The stock’s 50 day moving average price is $98.42 and its 200 day moving average price is $104.53. The company has a market capitalization of $35.19 billion, a PE ratio of 10.43, a P/E/G ratio of 1.86 and a beta of 0.86. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. Prudential Financial, Inc. has a 52-week low of $91.89 and a 52-week high of $119.76.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The company had revenue of $15.23 billion during the quarter, compared to analysts’ expectations of $14.10 billion. During the same period last year, the firm earned $3.29 EPS. On average, research analysts anticipate that Prudential Financial, Inc. will post 13.84 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, May 26th. Prudential Financial’s dividend payout ratio (DPR) is presently 57.61%.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.