Prudential Financial, Inc. (NYSE:PRU) Position Lessened by Private Trust Co. NA

Private Trust Co. NA trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 14.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,277 shares of the financial services provider’s stock after selling 563 shares during the period. Private Trust Co. NA’s holdings in Prudential Financial were worth $340,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. First Financial Corp IN increased its position in Prudential Financial by 13.7% during the fourth quarter. First Financial Corp IN now owns 848 shares of the financial services provider’s stock worth $88,000 after buying an additional 102 shares during the last quarter. Hilltop Holdings Inc. increased its position in Prudential Financial by 1.5% during the second quarter. Hilltop Holdings Inc. now owns 7,917 shares of the financial services provider’s stock worth $698,000 after buying an additional 116 shares during the last quarter. Private Portfolio Partners LLC increased its position in Prudential Financial by 1.7% during the second quarter. Private Portfolio Partners LLC now owns 7,149 shares of the financial services provider’s stock worth $631,000 after buying an additional 119 shares during the last quarter. Patron Partners LLC increased its position in Prudential Financial by 2.4% during the third quarter. Patron Partners LLC now owns 5,086 shares of the financial services provider’s stock worth $483,000 after buying an additional 119 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC increased its position in Prudential Financial by 5.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,451 shares of the financial services provider’s stock worth $244,000 after buying an additional 119 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Prudential Financial news, EVP Andrew F. Sullivan sold 7,685 shares of Prudential Financial stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total transaction of $857,415.45. Following the completion of the sale, the executive vice president now owns 13,691 shares of the company’s stock, valued at approximately $1,527,504.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Andrew F. Sullivan sold 7,685 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total value of $857,415.45. Following the completion of the transaction, the executive vice president now owns 13,691 shares of the company’s stock, valued at approximately $1,527,504.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert Axel sold 6,436 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total transaction of $719,930.96. Following the completion of the transaction, the senior vice president now directly owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,255 shares of company stock valued at $3,215,664. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PRU shares. Raymond James downgraded Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. UBS Group raised their price target on Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Piper Sandler raised their price target on Prudential Financial from $114.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday. TheStreet raised Prudential Financial from a “c+” rating to an “a-” rating in a research report on Tuesday, February 6th. Finally, Morgan Stanley raised their price target on Prudential Financial from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $108.10.

Prudential Financial Stock Performance

NYSE:PRU opened at $115.71 on Monday. Prudential Financial, Inc. has a 1 year low of $77.22 and a 1 year high of $118.69. The firm has a 50 day moving average of $110.23 and a 200-day moving average of $102.09. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $41.54 billion, a P/E ratio of 17.30, a price-to-earnings-growth ratio of 0.85 and a beta of 1.37.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). The company had revenue of $13.02 billion during the quarter, compared to analyst estimates of $12.99 billion. Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.42 EPS. As a group, sell-side analysts anticipate that Prudential Financial, Inc. will post 13.39 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Tuesday, February 20th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date was Friday, February 16th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.25. Prudential Financial’s payout ratio is currently 77.73%.

Prudential Financial Profile

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.