Evergreen Capital Management LLC Sells 6,350 Shares of Prudential Financial, Inc. (NYSE:PRU)

Evergreen Capital Management LLC lessened its holdings in Prudential Financial, Inc. (NYSE:PRU) by 15.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 35,492 shares of the financial services provider’s stock after selling 6,350 shares during the quarter. Evergreen Capital Management LLC’s holdings in Prudential Financial were worth $4,159,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PRU. Vanguard Group Inc. lifted its stake in shares of Prudential Financial by 13.9% in the 4th quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock valued at $4,386,192,000 after purchasing an additional 5,154,865 shares during the period. AustralianSuper Pty Ltd grew its position in shares of Prudential Financial by 2.8% during the 2nd quarter. AustralianSuper Pty Ltd now owns 1,237,537 shares of the financial services provider’s stock worth $145,027,000 after buying an additional 34,160 shares during the period. Federated Hermes Inc. increased its stake in shares of Prudential Financial by 8.8% in the 2nd quarter. Federated Hermes Inc. now owns 1,025,527 shares of the financial services provider’s stock valued at $120,181,000 after acquiring an additional 82,620 shares during the last quarter. Stifel Financial Corp raised its position in shares of Prudential Financial by 0.4% in the 4th quarter. Stifel Financial Corp now owns 1,003,558 shares of the financial services provider’s stock valued at $104,080,000 after acquiring an additional 4,006 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Prudential Financial by 7.2% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 926,641 shares of the financial services provider’s stock worth $108,788,000 after acquiring an additional 62,578 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PRU shares. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Jefferies Financial Group dropped their price objective on Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Barclays initiated coverage on Prudential Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 price target for the company. UBS Group lifted their price objective on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. increased their target price on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and an average target price of $120.83.

Prudential Financial Stock Down 0.5 %

Shares of PRU stock opened at $120.79 on Tuesday. The firm’s fifty day moving average price is $117.73 and its two-hundred day moving average price is $116.46. Prudential Financial, Inc. has a 1 year low of $87.95 and a 1 year high of $128.52. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $43.36 billion, a P/E ratio of 20.54, a PEG ratio of 0.91 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last released its earnings results 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 company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. On average, equities analysts predict that Prudential Financial, Inc. will post 13.31 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were issued a dividend of $1.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.30%. Prudential Financial’s payout ratio is 88.44%.

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.