Capital Asset Advisory Services LLC Has $507,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Capital Asset Advisory Services LLC lowered its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 19.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,384 shares of the financial services provider’s stock after selling 1,050 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Prudential Financial were worth $507,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PRU. Cambridge Trust Co. grew its position in 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 buying an additional 105 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in Prudential Financial during the fourth quarter worth approximately $26,000. Headinvest LLC acquired a new stake in Prudential Financial during the third quarter worth approximately $27,000. Arlington Trust Co LLC grew its position 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 buying an additional 185 shares in the last quarter. Finally, Pineridge Advisors LLC acquired a new stake in Prudential Financial during the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was acquired at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the purchase, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 transaction of $15,425,008.44. Following the completion of the transaction, the executive vice president now owns 202,083 shares in the company, valued at approximately $23,960,981.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were purchased at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the transaction, the insider now owns 3,883,390 shares in the company, valued at $107,065,062.30. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.

Prudential Financial Stock Performance

Shares of PRU opened at $117.19 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a 50-day moving average of $116.38 and a 200-day moving average of $110.85. The company has a market cap of $42.07 billion, a PE ratio of 19.93, a P/E/G ratio of 0.88 and a beta of 1.35. Prudential Financial, Inc. has a one year low of $86.69 and a one year high of $121.39.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.04). The firm had revenue of $15.01 billion during the quarter, compared to analyst estimates of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The business’s quarterly revenue was up 69.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.66 earnings per share. On average, equities research analysts predict that Prudential Financial, Inc. will post 13.41 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.44%. Prudential Financial’s dividend payout ratio (DPR) is currently 88.44%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Keefe, Bruyette & Woods upped their target price 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. Wells Fargo & Company upped their target price on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research note on Thursday, April 11th. Evercore ISI upped their target price on Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research note on Thursday, April 25th. Jefferies Financial Group cut their target price on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday. Finally, Piper Sandler cut their target price on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and an average price target of $115.08.

About Prudential Financial

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.