Boston Private Wealth LLC Sells 812 Shares of Prudential Financial, Inc. (PRU)

Boston Private Wealth LLC cut its holdings in Prudential Financial, Inc. (NYSE:PRU) by 3.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,347 shares of the financial services provider’s stock after selling 812 shares during the period. Boston Private Wealth LLC’s holdings in Prudential Financial were worth $2,163,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Douglas Lane & Associates LLC increased its position in shares of Prudential Financial by 3.1% in the third quarter. Douglas Lane & Associates LLC now owns 647,412 shares of the financial services provider’s stock valued at $68,833,000 after acquiring an additional 19,238 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of Prudential Financial by 25.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 21,649 shares of the financial services provider’s stock valued at $2,341,000 after acquiring an additional 4,372 shares during the period. Seizert Capital Partners LLC increased its position in shares of Prudential Financial by 2.2% in the second quarter. Seizert Capital Partners LLC now owns 114,414 shares of the financial services provider’s stock valued at $12,373,000 after acquiring an additional 2,421 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Prudential Financial by 5.0% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 42,113 shares of the financial services provider’s stock valued at $4,477,000 after acquiring an additional 1,990 shares during the period. Finally, APG Asset Management N.V. increased its position in shares of Prudential Financial by 171.8% in the third quarter. APG Asset Management N.V. now owns 2,704,719 shares of the financial services provider’s stock valued at $287,566,000 after acquiring an additional 1,709,699 shares during the period. Hedge funds and other institutional investors own 64.68% of the company’s stock.

In related news, insider Nicholas C. Silitch sold 44,860 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the transaction, the insider now owns 27,927 shares in the company, valued at $3,121,400.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Charles F. Lowrey sold 44,630 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $111.91, for a total transaction of $4,994,543.30. Following the transaction, the executive vice president now owns 79,354 shares in the company, valued at approximately $8,880,506.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,017 shares of company stock worth $11,219,151. 0.66% of the stock is owned by insiders.

Several brokerages recently issued reports on PRU. BidaskClub cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Morgan Stanley boosted their price objective on shares of Prudential Financial from $123.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. B. Riley reissued a “buy” rating on shares of Prudential Financial in a research note on Monday, November 6th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Prudential Financial in a research note on Friday, August 11th. Finally, ValuEngine lowered shares of Prudential Financial from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 10th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $115.64.

Shares of Prudential Financial, Inc. (NYSE PRU) traded down $0.44 during trading on Friday, reaching $115.40. 1,664,527 shares of the company were exchanged, compared to its average volume of 1,856,072. The company has a market capitalization of $49,660.00, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 1.28 and a beta of 1.56. Prudential Financial, Inc. has a 12 month low of $97.88 and a 12 month high of $117.59. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.34.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.71 by $0.30. The company had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $12.24 billion. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. During the same quarter in the prior year, the firm earned $2.66 earnings per share. equities research analysts predict that Prudential Financial, Inc. will post 10.38 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Monday, November 27th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, November 24th. This represents a $3.00 dividend on an annualized basis and a yield of 2.60%. Prudential Financial’s dividend payout ratio (DPR) is 30.24%.

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About Prudential Financial

Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.

Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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