Prudential Financial, Inc. $PRU Position Trimmed by Wealthfront Advisers LLC

Wealthfront Advisers LLC trimmed its stake in Prudential Financial, Inc. (NYSE:PRU) by 13.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,733 shares of the financial services provider’s stock after selling 12,227 shares during the quarter. Wealthfront Advisers LLC’s holdings in Prudential Financial were worth $8,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PRU. Profund Advisors LLC increased its stake in Prudential Financial by 17.4% in the 3rd quarter. Profund Advisors LLC now owns 4,649 shares of the financial services provider’s stock valued at $482,000 after buying an additional 688 shares during the period. REAP Financial Group LLC grew its holdings in shares of Prudential Financial by 16.1% during the 3rd quarter. REAP Financial Group LLC now owns 1,292 shares of the financial services provider’s stock valued at $134,000 after acquiring an additional 179 shares in the last quarter. RFG Advisory LLC raised its stake in shares of Prudential Financial by 5.7% during the 3rd quarter. RFG Advisory LLC now owns 3,917 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 212 shares in the last quarter. SPC Financial Inc. raised its position in Prudential Financial by 5.9% during the third quarter. SPC Financial Inc. now owns 4,291 shares of the financial services provider’s stock valued at $445,000 after acquiring an additional 239 shares in the last quarter. Finally, Key Financial Inc lifted its stake in shares of Prudential Financial by 147.3% in the 3rd quarter. Key Financial Inc now owns 1,548 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 922 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Up 1.8%

Shares of PRU stock opened at $105.19 on Thursday. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $119.76. 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 stock has a fifty day moving average price of $112.14 and a 200 day moving average price of $107.38. The stock has a market cap of $36.82 billion, a P/E ratio of 10.52, a price-to-earnings-growth ratio of 1.17 and a beta of 0.97.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.07). Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. The business had revenue of $14.52 billion during the quarter, compared to analyst estimates of $14.48 billion. During the same quarter in the prior year, the company posted $2.96 EPS. Analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Tuesday, February 17th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.35. This represents a $5.60 dividend on an annualized basis and a yield of 5.3%. Prudential Financial’s dividend payout ratio (DPR) is presently 54.00%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods boosted their price target on Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Wells Fargo & Company boosted their price objective on shares of Prudential Financial from $113.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Wall Street Zen downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Piper Sandler lifted their target price on shares of Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, December 23rd. Finally, Mizuho decreased their target price on Prudential Financial from $126.00 to $113.00 and set a “neutral” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $117.11.

Insider Buying and Selling

In related news, EVP Jacques Chappuis bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was acquired at an average price of $100.97 per share, for a total transaction of $100,970.00. Following the transaction, the executive vice president directly owned 1,000 shares of the company’s stock, valued at $100,970. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Timothy L. Schmidt sold 8,000 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $107.69, for a total value of $861,520.00. Following the completion of the sale, the senior vice president directly owned 11,535 shares in the company, valued at approximately $1,242,204.15. This represents a 40.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.25% of the company’s stock.

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.