Summit Trail Advisors LLC Has $301,000 Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Summit Trail Advisors LLC lowered its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,572 shares of the financial services provider’s stock after selling 116 shares during the period. Summit Trail Advisors LLC’s holdings in Prudential Financial were worth $301,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Sei Investments Co. grew its stake in Prudential Financial by 14.4% in the second quarter. Sei Investments Co. now owns 66,187 shares of the financial services provider’s stock valued at $7,757,000 after acquiring an additional 8,334 shares during the period. Pacer Advisors Inc. increased its stake in Prudential Financial by 4.5% during the 2nd quarter. Pacer Advisors Inc. now owns 25,964 shares of the financial services provider’s stock valued at $3,043,000 after purchasing an additional 1,122 shares in the last quarter. Bridges Investment Management Inc. acquired a new position in Prudential Financial during the second quarter worth $360,000. Canada Pension Plan Investment Board grew its holdings in shares of Prudential Financial by 2.6% during the second quarter. Canada Pension Plan Investment Board now owns 155,404 shares of the financial services provider’s stock valued at $18,212,000 after buying an additional 4,000 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Prudential Financial by 12.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 25,180 shares of the financial services provider’s stock worth $2,950,000 after acquiring an additional 2,698 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $120.79 on Tuesday. The company has a 50-day moving average price of $117.73 and a two-hundred day moving average price of $116.46. Prudential Financial, Inc. has a twelve month low of $87.95 and a twelve month 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 firm has a market capitalization of $43.36 billion, a PE ratio of 20.54, a P/E/G ratio of 0.91 and a beta of 1.30.

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

Prudential Financial Announces Dividend

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

Wall Street Analyst Weigh In

PRU has been the subject of several analyst reports. JPMorgan Chase & Co. increased 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. Keefe, Bruyette & Woods restated a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a research note on Wednesday, August 21st. Jefferies Financial Group reduced their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Barclays assumed coverage on shares of Prudential Financial in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price target on the stock. Finally, Argus raised shares of Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $120.83.

Insider Buying and Selling

In other Prudential Financial news, 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 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 at the SEC website. In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the company’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 value of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction 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 disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

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.