Choreo LLC Sells 7,016 Shares of Prudential Financial, Inc. $PRU

Choreo LLC decreased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 23.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 23,323 shares of the financial services provider’s stock after selling 7,016 shares during the period. Choreo LLC’s holdings in Prudential Financial were worth $2,420,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Summit Global Investments increased its stake in shares of Prudential Financial by 1.3% in the 2nd quarter. Summit Global Investments now owns 7,609 shares of the financial services provider’s stock valued at $817,000 after acquiring an additional 100 shares during the last quarter. Woodward Diversified Capital LLC increased its stake in Prudential Financial by 1.4% in the third quarter. Woodward Diversified Capital LLC now owns 7,662 shares of the financial services provider’s stock valued at $795,000 after purchasing an additional 103 shares in the last quarter. Pitcairn Co. raised its holdings in Prudential Financial by 2.7% in the second quarter. Pitcairn Co. now owns 3,973 shares of the financial services provider’s stock worth $427,000 after purchasing an additional 104 shares during the period. TIAA Trust National Association boosted its position in shares of Prudential Financial by 2.7% during the second quarter. TIAA Trust National Association now owns 4,142 shares of the financial services provider’s stock worth $445,000 after purchasing an additional 108 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC grew its holdings in shares of Prudential Financial by 20.5% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 642 shares of the financial services provider’s stock valued at $67,000 after buying an additional 109 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Stock Down 4.0%

Shares of Prudential Financial stock opened at $98.22 on Friday. The firm has a market cap of $34.18 billion, a PE ratio of 9.82, a P/E/G ratio of 1.13 and a beta of 0.97. The business’s 50 day simple moving average is $109.25 and its 200 day simple moving average is $107.35. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $119.76.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share for the quarter, missing the consensus estimate of $3.37 by ($0.07). The business had revenue of $15.69 billion for the quarter, compared to the consensus estimate of $14.48 billion. Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.During the same period in the prior year, the business earned $2.96 earnings per share. On average, analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Tuesday, February 17th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 5.7%. The ex-dividend date is Tuesday, February 17th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.35. Prudential Financial’s dividend payout ratio (DPR) is presently 56.00%.

Insider Activity

In related news, Director Joseph J. Wolk purchased 400 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was purchased at an average cost of $105.32 per share, for a total transaction of $42,128.00. Following the completion of the purchase, the director directly owned 400 shares in the company, valued at $42,128. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jacques Chappuis purchased 1,000 shares of the stock in a transaction on Friday, February 6th. The shares were bought at an average cost of $100.97 per share, for a total transaction of $100,970.00. Following the transaction, the executive vice president directly owned 1,000 shares in the company, valued at approximately $100,970. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 1,408,389 shares of company stock worth $35,154,439. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Mizuho dropped their price objective on Prudential Financial from $126.00 to $113.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 10th. Weiss Ratings raised Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Piper Sandler boosted their price objective on Prudential Financial from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, December 23rd. Evercore lowered their target price on Prudential Financial from $122.00 to $110.00 and set an “in-line” rating for the company in a research note on Thursday, February 5th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Prudential Financial currently has an average rating of “Hold” and a consensus target price of $115.78.

Prudential Financial Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.