Stock Yards Bank & Trust Co. Sells 634 Shares of Prudential Financial, Inc. (NYSE:PRU)

Stock Yards Bank & Trust Co. lessened its position in Prudential Financial, Inc. (NYSE:PRU) by 13.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 4,032 shares of the financial services provider’s stock after selling 634 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Prudential Financial were worth $418,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of Prudential Financial by 2.9% during the third quarter. FMR LLC now owns 1,315,215 shares of the financial services provider’s stock valued at $124,801,000 after buying an additional 36,599 shares during the last quarter. Czech National Bank boosted its position in Prudential Financial by 46.8% during the 3rd quarter. Czech National Bank now owns 63,444 shares of the financial services provider’s stock valued at $6,020,000 after buying an additional 20,235 shares during the period. Tyche Wealth Partners LLC purchased a new position in shares of Prudential Financial in the fourth quarter valued at about $815,000. Arvest Investments Inc. purchased a new stake in Prudential Financial in the 4th quarter worth approximately $2,112,000. Finally, Victory Capital Management Inc. grew its position in shares of Prudential Financial by 14.5% in the 3rd quarter. Victory Capital Management Inc. now owns 268,728 shares of the financial services provider’s stock worth $25,500,000 after buying an additional 34,054 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Prudential Financial Stock Performance

NYSE PRU opened at $112.05 on Wednesday. The company has a market capitalization of $40.23 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 0.76 and a beta of 1.37. The business’s 50-day moving average price is $111.52 and its 200 day moving average price is $103.50. Prudential Financial, Inc. has a twelve month low of $77.22 and a twelve month high of $118.69. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last released 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 analysts’ expectations of $12.99 billion. Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.42 EPS. On average, research analysts predict that Prudential Financial, Inc. will post 13.38 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were paid a $1.30 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Friday, February 16th. This represents a $5.20 annualized dividend and a dividend yield of 4.64%. Prudential Financial’s dividend payout ratio is presently 77.73%.

Analyst Ratings Changes

Several equities research analysts have recently commented on PRU shares. Raymond James cut shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. TheStreet upgraded Prudential Financial from a “c+” rating to an “a-” rating in a report on Tuesday, February 6th. Morgan Stanley increased their price objective on Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. UBS Group lifted their price target on shares of Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Finally, Keefe, Bruyette & Woods raised their price target on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. Based on data from MarketBeat, Prudential Financial presently has an average rating of “Hold” and an average price target of $111.33.

Insider Activity

In other news, SVP Timothy L. Schmidt sold 7,912 shares of Prudential Financial stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total value of $855,524.56. Following the transaction, the senior vice president now owns 14,754 shares of the company’s stock, valued at approximately $1,595,350.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Timothy L. Schmidt sold 7,912 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total transaction of $855,524.56. Following the sale, the senior vice president now owns 14,754 shares in the company, valued at $1,595,350.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew F. Sullivan sold 7,685 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was 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 directly owns 13,691 shares of the company’s stock, valued at $1,527,504.87. The disclosure for this sale can be found here. Insiders sold 29,255 shares of company stock worth $3,215,664 over the last three months. Corporate insiders own 0.34% of the company’s stock.

Prudential Financial Company 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.