Fulton Bank N.A. Sells 163 Shares of Prudential Financial, Inc. (NYSE:PRU)

Fulton Bank N.A. lowered its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,438 shares of the financial services provider’s stock after selling 163 shares during the quarter. Fulton Bank N.A.’s holdings in Prudential Financial were worth $780,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cullinan Associates Inc. lifted its position in shares of Prudential Financial by 2,355.0% during the first quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock valued at $17,798,000 after purchasing an additional 145,423 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Prudential Financial by 44.9% in the 1st quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock worth $27,327,000 after buying an additional 71,274 shares during the last quarter. Greenwood Capital Associates LLC bought a new position in shares of Prudential Financial in the fourth quarter valued at approximately $1,087,000. Nomura Holdings Inc. purchased a new stake in shares of Prudential Financial during the fourth quarter valued at approximately $761,000. Finally, Brookstone Capital Management boosted its position in Prudential Financial by 1,635.0% in the first quarter. Brookstone Capital Management now owns 87,201 shares of the financial services provider’s stock worth $10,237,000 after purchasing an additional 82,175 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

Shares of PRU opened at $120.88 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a market capitalization of $43.40 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 0.94 and a beta of 1.30. Prudential Financial, Inc. has a 52-week low of $87.95 and a 52-week high of $128.52. The stock’s 50-day simple moving average is $116.85 and its 200 day simple moving average is $116.98.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. Research analysts forecast that Prudential Financial, Inc. will post 13.29 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PRU shares. UBS Group lifted their target price on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Jefferies Financial Group dropped their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. JPMorgan Chase & Co. lifted their price target on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Morgan Stanley reduced their price objective on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Finally, Barclays assumed coverage on Prudential Financial in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $123.36.

Insider Buying and Selling

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 transaction of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 completion of the transaction, the executive vice president now directly owns 14,535 shares in the company, valued at approximately $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 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 $1,220,694.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

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.