Prudential Financial, Inc. (NYSE:PRU) Shares Sold by EP Wealth Advisors LLC

EP Wealth Advisors LLC decreased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 11.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,322 shares of the financial services provider’s stock after selling 689 shares during the quarter. EP Wealth Advisors LLC’s holdings in Prudential Financial were worth $552,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PRU. QRG Capital Management Inc. purchased a new position in shares of Prudential Financial during the 3rd quarter valued at approximately $1,304,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Prudential Financial during the 3rd quarter valued at approximately $1,424,000. Envestnet Asset Management Inc. lifted its holdings in Prudential Financial by 39.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,004,087 shares of the financial services provider’s stock valued at $95,278,000 after purchasing an additional 282,667 shares in the last quarter. FMR LLC lifted its holdings in Prudential Financial by 2.9% in the 3rd quarter. FMR LLC now owns 1,315,215 shares of the financial services provider’s stock valued at $124,801,000 after purchasing an additional 36,599 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in Prudential Financial in the 3rd quarter valued at $204,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $118.57, for a total value of $15,425,008.44. Following the completion of the transaction, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Timothy L. Schmidt sold 5,189 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total transaction of $604,933.62. Following the completion of the transaction, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at $1,426,472.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Robert Falzon sold 130,092 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $118.57, for a total value of $15,425,008.44. Following the transaction, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PRU shares. Piper Sandler decreased their price objective on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Evercore ISI raised their price objective on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a report on Thursday, April 25th. Wells Fargo & Company raised their price objective on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods raised their price objective on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Finally, Morgan Stanley lifted their price target on Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $115.25.

Prudential Financial Stock Up 1.0 %

Shares of NYSE:PRU opened at $115.67 on Wednesday. The business has a 50-day moving average price of $115.10 and a 200 day moving average price of $109.99. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $41.53 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 0.85 and a beta of 1.35. Prudential Financial, Inc. has a 12-month low of $83.34 and a 12-month high of $121.39.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). The business had revenue of $15.01 billion for the quarter, compared to analyst estimates of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The firm’s revenue for the quarter was up 69.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.66 earnings per share. Sell-side analysts expect that Prudential Financial, Inc. will post 13.41 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend was Monday, May 20th. Prudential Financial’s dividend payout ratio is currently 88.44%.

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.