New England Research & Management Inc. Sells 3,603 Shares of Prudential Financial, Inc. (NYSE:PRU)

New England Research & Management Inc. lowered its holdings in Prudential Financial, Inc. (NYSE:PRU) by 53.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,176 shares of the financial services provider’s stock after selling 3,603 shares during the quarter. New England Research & Management Inc.’s holdings in Prudential Financial were worth $385,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Chemistry Wealth Management LLC grew its position in Prudential Financial by 39.4% in the 3rd quarter. Chemistry Wealth Management LLC now owns 4,240 shares of the financial services provider’s stock valued at $513,000 after purchasing an additional 1,198 shares during the period. Diversified Trust Co acquired a new stake in Prudential Financial in the 3rd quarter valued at $807,000. GAMMA Investing LLC grew its position in Prudential Financial by 24.3% in the 3rd quarter. GAMMA Investing LLC now owns 7,960 shares of the financial services provider’s stock valued at $964,000 after purchasing an additional 1,554 shares during the period. Czech National Bank grew its position in Prudential Financial by 6.3% in the 3rd quarter. Czech National Bank now owns 72,724 shares of the financial services provider’s stock valued at $8,807,000 after purchasing an additional 4,313 shares during the period. Finally, Thrive Wealth Management LLC grew its position in Prudential Financial by 4.1% in the 3rd quarter. Thrive Wealth Management LLC now owns 4,232 shares of the financial services provider’s stock valued at $513,000 after purchasing an additional 165 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Activity at Prudential Financial

In related news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction dated 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 directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the sale, the executive vice president now directly owns 14,535 shares in the company, valued at $1,648,705.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 approximately $1,220,694.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PRU shares. Morgan Stanley cut their price objective on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Jefferies Financial Group cut their price objective on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Argus raised shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Wells Fargo & Company raised shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price objective on the stock in a report on Monday, August 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $123.36.

Prudential Financial Stock Performance

Prudential Financial stock traded down $2.53 during midday trading on Monday, reaching $120.46. The stock had a trading volume of 1,287,582 shares, compared to its average volume of 1,500,266. Prudential Financial, Inc. has a 12 month low of $87.95 and a 12 month high of $128.52. The firm’s 50-day moving average price is $116.93 and its 200 day moving average price is $116.94. The firm has a market capitalization of $43.25 billion, a PE ratio of 20.53, a P/E/G ratio of 0.94 and a beta of 1.30. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last announced 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). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. As a group, research analysts predict that Prudential Financial, Inc. will post 13.29 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is currently 88.44%.

Prudential Financial Company 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.