Prudential Financial, Inc. $PRU Stake Lessened by Orca Investment Management LLC

Orca Investment Management LLC lessened its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 18.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,732 shares of the financial services provider’s stock after selling 4,407 shares during the quarter. Prudential Financial comprises 1.7% of Orca Investment Management LLC’s portfolio, making the stock its 19th biggest holding. Orca Investment Management LLC’s holdings in Prudential Financial were worth $2,241,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Archer Investment Corp bought a new stake in shares of Prudential Financial during the second quarter valued at approximately $26,000. MADDEN SECURITIES Corp purchased a new position in shares of Prudential Financial in the third quarter worth $38,000. Center for Financial Planning Inc. lifted its holdings in shares of Prudential Financial by 90.4% in the third quarter. Center for Financial Planning Inc. now owns 339 shares of the financial services provider’s stock worth $39,000 after buying an additional 161 shares in the last quarter. Reyes Financial Architecture Inc. bought a new position in shares of Prudential Financial during the third quarter worth $41,000. Finally, EFG International AG grew its stake in Prudential Financial by 452.2% during the second quarter. EFG International AG now owns 381 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 312 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on PRU shares. TD Cowen reduced their price target on shares of Prudential Financial from $114.00 to $112.00 and set a “hold” rating on the stock in a report on Wednesday, October 21st. Bank of America dropped their price objective on shares of Prudential Financial from $132.00 to $130.00 and set a “neutral” rating for the company in a report on Monday, October 12th. Deutsche Bank Aktiengesellschaft cut their price objective on Prudential Financial from $105.00 to $102.00 and set a “hold” rating for the company in a research report on Friday, October 23rd. Piper Sandler reduced their target price on Prudential Financial from $128.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, October 12th. Finally, BMO Capital Markets boosted their target price on Prudential Financial from $90.00 to $120.00 and gave the stock an “underperform” rating in a research report on Friday, August 21st. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $111.27.

Prudential Financial Price Performance

PRU stock opened at $116.35 on Monday. Prudential Financial, Inc. has a 52 week low of $91.89 and a 52 week high of $127.72. The firm has a market capitalization of $40.14 billion, a P/E ratio of 10.54, a price-to-earnings-growth ratio of 1.95 and a beta of 0.85. The company has a fifty day simple moving average of $116.96 and a two-hundred day simple moving average of $108.79. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.62.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.52 by $0.56. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.36 billion. During the same period in the previous year, the firm posted $3.58 EPS. Analysts anticipate that Prudential Financial, Inc. will post 13.51 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Tuesday, August 25th. Prudential Financial’s payout ratio is presently 50.72%.

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann Kappler sold 7,652 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $125.01, for a total transaction of $956,576.52. Following the sale, the executive vice president directly owned 14,407 shares in the company, valued at $1,801,019.07. This represents a 34.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.05% of the stock is owned by insiders.

Prudential Financial Company Profile

Prudential Financial, Inc (NYSE: PRU) is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in Newark, New Jersey, in 1875, the company serves individuals, businesses and institutional investors through a range of businesses and distribution channels.

In the United States, Prudential offers life insurance, annuities, retirement plans and employee benefits, including group life, disability and dental insurance.