Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Canandaigua National Corp

Canandaigua National Corp cut its stake in shares of Prudential Financial, Inc. (NYSE:PRUGet Rating) by 25.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,487 shares of the financial services provider’s stock after selling 9,181 shares during the quarter. Canandaigua National Corp’s holdings in Prudential Financial were worth $2,534,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. grew its position in shares of Prudential Financial by 1.5% during the first quarter. BlackRock Inc. now owns 32,183,900 shares of the financial services provider’s stock worth $3,803,171,000 after buying an additional 465,588 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Prudential Financial by 1.9% during the first quarter. Vanguard Group Inc. now owns 31,119,980 shares of the financial services provider’s stock worth $3,677,448,000 after buying an additional 577,475 shares in the last quarter. State Street Corp lifted its stake in Prudential Financial by 1.5% during the first quarter. State Street Corp now owns 18,782,147 shares of the financial services provider’s stock worth $2,219,486,000 after purchasing an additional 282,166 shares during the last quarter. Geode Capital Management LLC lifted its stake in Prudential Financial by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 7,266,835 shares of the financial services provider’s stock worth $785,189,000 after purchasing an additional 51,831 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Prudential Financial by 6.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,353,887 shares of the financial services provider’s stock worth $750,839,000 after purchasing an additional 356,957 shares during the last quarter. 57.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on PRU. The Goldman Sachs Group decreased their target price on Prudential Financial from $116.00 to $99.00 and set a “neutral” rating for the company in a research note on Monday, June 6th. Wells Fargo & Company boosted their price objective on Prudential Financial from $95.00 to $101.00 and gave the company an “equal weight” rating in a research note on Thursday, August 4th. Barclays reduced their price objective on Prudential Financial from $115.00 to $95.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 13th. Evercore ISI reduced their price objective on Prudential Financial to $90.00 in a research note on Tuesday, August 9th. Finally, Morgan Stanley boosted their price objective on Prudential Financial from $103.00 to $108.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 17th. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and an average price target of $104.83.

Prudential Financial Trading Down 0.7 %

Shares of PRU stock opened at $91.92 on Monday. The business’s fifty day moving average price is $97.62 and its 200 day moving average price is $103.65. Prudential Financial, Inc. has a 1-year low of $89.73 and a 1-year high of $124.22. The firm has a market capitalization of $34.19 billion, a PE ratio of 17.02, a P/E/G ratio of 1.02 and a beta of 1.40. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.07 and a quick ratio of 0.07.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, August 23rd were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date was Monday, August 22nd. Prudential Financial’s dividend payout ratio is presently 88.89%.

Prudential Financial Profile

(Get Rating)

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 eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.

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

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