Bogart Wealth LLC Cuts Stake in Prudential Financial, Inc. (NYSE:PRU)

Bogart Wealth LLC trimmed its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,596 shares of the financial services provider’s stock after selling 1,206 shares during the quarter. Bogart Wealth LLC’s holdings in Prudential Financial were worth $6,284,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Cambridge Trust Co. grew its stake in shares of Prudential Financial by 77.2% during the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 105 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of Prudential Financial during the 4th quarter worth about $26,000. Headinvest LLC purchased a new position in shares of Prudential Financial in the 3rd quarter valued at about $27,000. Arlington Trust Co LLC lifted its stake in Prudential Financial by 151.6% during the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 185 shares during the last quarter. Finally, Janiczek Wealth Management LLC boosted its holdings in Prudential Financial by 49.6% in the fourth quarter. Janiczek Wealth Management LLC now owns 374 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

PRU traded up $0.97 during trading on Thursday, hitting $117.66. The stock had a trading volume of 160,420 shares, compared to its average volume of 1,505,618. Prudential Financial, Inc. has a twelve month low of $77.87 and a twelve month high of $118.69. The firm has a market capitalization of $42.24 billion, a P/E ratio of 19.85, a PEG ratio of 0.83 and a beta of 1.35. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. The company’s 50-day moving average price is $112.48 and its 200 day moving average price is $104.78.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results 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). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The firm had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. During the same period in the prior year, the company earned $2.66 earnings per share. The company’s revenue for the quarter was up 69.9% on a year-over-year basis. On average, equities research analysts forecast that Prudential Financial, Inc. will post 13.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 21st will be paid a $1.30 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.42%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Insider Buying and Selling

In other news, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total value of $782,792.58. Following the completion of the transaction, the executive vice president now owns 24,381 shares in the company, valued at approximately $2,642,656.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Ann M. Kappler sold 7,222 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total value of $782,792.58. Following the sale, the executive vice president now owns 24,381 shares in the company, valued at approximately $2,642,656.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Robert Axel sold 6,436 shares of Prudential Financial stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the transaction, the senior vice president now directly owns 7,901 shares of the company’s stock, valued at $883,805.86. The disclosure for this sale can be found here. Insiders have sold 29,255 shares of company stock valued at $3,215,664 over the last quarter. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

PRU has been the subject of several recent analyst reports. Raymond James downgraded shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. TheStreet raised Prudential Financial from a “c+” rating to an “a-” rating in a report on Tuesday, February 6th. Morgan Stanley boosted their target price on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods raised their price target on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Finally, Piper Sandler reduced their price objective on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to MarketBeat, Prudential Financial has a consensus rating of “Hold” and an average target price of $111.08.

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.