Amalgamated Bank Lowers Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Amalgamated Bank decreased its position in Prudential Financial, Inc. (NYSE:PRU) by 2.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 72,644 shares of the financial services provider’s stock after selling 2,133 shares during the period. Amalgamated Bank’s holdings in Prudential Financial were worth $8,513,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Creekmur Asset Management LLC increased its stake in shares of Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares in the last quarter. Lynx Investment Advisory purchased a new stake in shares of Prudential Financial in the second quarter valued at approximately $29,000. Crewe Advisors LLC acquired a new position in shares of Prudential Financial during the 1st quarter worth approximately $33,000. ESL Trust Services LLC purchased a new position in shares of Prudential Financial during the 1st quarter valued at approximately $34,000. Finally, Riverview Trust Co acquired a new stake in Prudential Financial in the 1st quarter valued at $37,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction on Tuesday, September 3rd. The stock was 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 $1,220,694.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the sale, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Prudential Financial Stock Up 0.6 %

Shares of NYSE:PRU opened at $119.44 on Thursday. Prudential Financial, Inc. has a 52-week low of $87.95 and a 52-week high of $128.52. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The business has a fifty day moving average of $117.88 and a two-hundred day moving average of $116.15. The stock has a market cap of $42.64 billion, a P/E ratio of 20.31, a PEG ratio of 0.90 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.43 by ($0.04). The firm had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. On average, research analysts expect that Prudential Financial, Inc. will post 13.31 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is presently 88.44%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PRU. Citigroup upped their price objective on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a research note on Wednesday, August 21st. JPMorgan Chase & Co. boosted their price objective on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Argus upgraded Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company upgraded Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price target for the company in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Prudential Financial presently has an average rating of “Hold” and a consensus target price of $120.83.

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.