Bryn Mawr Capital Management LLC Sells 165 Shares of Prudential Financial, Inc. (NYSE:PRU)

Bryn Mawr Capital Management LLC reduced its position in shares of Prudential Financial, Inc. (NYSE:PRUFree Report) by 2.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,785 shares of the financial services provider’s stock after selling 165 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Prudential Financial were worth $679,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cambridge Trust Co. increased its stake in Prudential Financial by 77.2% during the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 105 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of Prudential Financial during the 4th quarter valued at about $26,000. Headinvest LLC purchased a new stake in shares of Prudential Financial during the 3rd quarter valued at about $27,000. Arlington Trust Co LLC boosted its holdings in shares of Prudential Financial by 151.6% during the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 185 shares during the last quarter. Finally, Riverview Trust Co purchased a new stake in shares of Prudential Financial during the 1st quarter valued at about $37,000. 56.83% of the stock is currently owned by institutional investors.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of Prudential Financial stock in a transaction dated Thursday, June 20th. The shares were purchased at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the transaction, the insider now directly owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Robert Falzon sold 130,092 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $118.57, for a total value of $15,425,008.44. Following the sale, the executive vice president now owns 202,083 shares in the company, valued at $23,960,981.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of Prudential Financial stock in a transaction that occurred on Thursday, June 20th. The stock was acquired at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the transaction, the insider now directly owns 3,883,390 shares of the company’s stock, valued at approximately $107,065,062.30. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PRU shares. JPMorgan Chase & Co. raised their price target on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Piper Sandler dropped their price target on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Keefe, Bruyette & Woods raised their price target on shares of Prudential Financial from $118.00 to $121.00 and gave the company a “market perform” rating in a report on Monday. Wells Fargo & Company raised their price target on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Finally, Morgan Stanley raised their price objective on shares of Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $116.17.

Check Out Our Latest Analysis on Prudential Financial

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $117.04 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial, Inc. has a 1-year low of $87.95 and a 1-year high of $121.39. The company has a market capitalization of $42.02 billion, a P/E ratio of 19.90, a P/E/G ratio of 0.87 and a beta of 1.34. The firm’s 50 day simple moving average is $117.12 and its two-hundred day simple moving average is $111.56.

Prudential Financial (NYSE:PRUGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.04). The company had revenue of $15.01 billion for the quarter, compared to the consensus estimate of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The company’s quarterly revenue was up 69.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.66 EPS. Research analysts expect that Prudential Financial, Inc. will post 13.41 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend was Monday, May 20th. Prudential Financial’s payout ratio is currently 88.44%.

About Prudential Financial

(Free Report)

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.

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

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