Bank of New York Mellon Corp Sells 85,299 Shares of Prudential Financial, Inc. $PRU

Bank of New York Mellon Corp trimmed its holdings in Prudential Financial, Inc. (NYSE:PRU) by 4.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,996,075 shares of the financial services provider’s stock after selling 85,299 shares during the period. Bank of New York Mellon Corp owned about 0.57% of Prudential Financial worth $194,997,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Geneos Wealth Management Inc. boosted its stake in Prudential Financial by 3.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,964 shares of the financial services provider’s stock valued at $387,000 after purchasing an additional 124 shares during the last quarter. MASTERINVEST Kapitalanlage GmbH boosted its position in shares of Prudential Financial by 10.3% during the first quarter. MASTERINVEST Kapitalanlage GmbH now owns 16,529 shares of the financial services provider’s stock valued at $1,615,000 after buying an additional 1,538 shares during the last quarter. Sanctuary Advisors LLC boosted its position in shares of Prudential Financial by 0.5% during the first quarter. Sanctuary Advisors LLC now owns 45,448 shares of the financial services provider’s stock valued at $4,440,000 after buying an additional 243 shares during the last quarter. Checchi Capital Advisers LLC grew its holdings in Prudential Financial by 8.2% during the first quarter. Checchi Capital Advisers LLC now owns 4,300 shares of the financial services provider’s stock worth $420,000 after buying an additional 325 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in Prudential Financial by 18.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 950 shares of the financial services provider’s stock valued at $93,000 after buying an additional 150 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PRU shares. Wells Fargo & Company raised their price objective on Prudential Financial from $100.00 to $103.00 and gave the company an “underweight” rating in a research note on Thursday, July 9th. Mizuho upped their price objective on shares of Prudential Financial from $101.00 to $109.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Piper Sandler lifted their target price on shares of Prudential Financial from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Jefferies Financial Group boosted their target price on Prudential Financial from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Finally, Wall Street Zen raised Prudential Financial from a “hold” rating to a “buy” rating in a report on Saturday. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $104.58.

Prudential Financial Stock Up 0.7%

Shares of NYSE PRU opened at $119.05 on Friday. The stock has a market capitalization of $41.31 billion, a PE ratio of 12.25, a P/E/G ratio of 2.44 and a beta of 0.85. Prudential Financial, Inc. has a one year low of $91.89 and a one year high of $120.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The business’s fifty day moving average price is $107.27 and its 200-day moving average price is $104.17.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.52. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. The firm had revenue of $15.23 billion during the quarter, compared to the consensus estimate of $14.10 billion. During the same quarter last year, the company earned $3.29 earnings per share. On average, equities research analysts anticipate that Prudential Financial, Inc. will post 13.79 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th were paid a $1.40 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $5.60 annualized dividend and a yield of 4.7%. Prudential Financial’s dividend payout ratio (DPR) is currently 57.61%.

About Prudential Financial

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.