Amalgamated Bank Sells 2,559 Shares of Prudential Financial, Inc. (NYSE:PRU)

Amalgamated Bank decreased its position in Prudential Financial, Inc. (NYSE:PRU) by 2.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 90,857 shares of the financial services provider’s stock after selling 2,559 shares during the quarter. Amalgamated Bank’s holdings in Prudential Financial were worth $9,423,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PRU. First Financial Corp IN increased its holdings in Prudential Financial by 13.7% during the 4th quarter. First Financial Corp IN now owns 848 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 102 shares in the last quarter. McIlrath & Eck LLC raised its holdings in shares of Prudential Financial by 18.0% in the fourth quarter. McIlrath & Eck LLC now owns 670 shares of the financial services provider’s stock valued at $69,000 after buying an additional 102 shares during the last quarter. Cambridge Trust Co. lifted its position in Prudential Financial by 77.2% during the 4th 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. Mechanics Financial Corp grew its holdings in Prudential Financial by 6.3% during the 4th quarter. Mechanics Financial Corp now owns 1,771 shares of the financial services provider’s stock worth $184,000 after acquiring an additional 105 shares during the last quarter. Finally, Raab & Moskowitz Asset Management LLC raised its stake in shares of Prudential Financial by 1.8% in the fourth quarter. Raab & Moskowitz Asset Management LLC now owns 6,531 shares of the financial services provider’s stock worth $677,000 after acquiring an additional 118 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling

In other news, SVP Timothy L. Schmidt sold 7,912 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of the transaction, the senior vice president now owns 14,754 shares in the company, valued at approximately $1,595,350.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Prudential Financial news, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction on 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 sale, the executive vice president now owns 24,381 shares in the company, valued at $2,642,656.59. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Timothy L. Schmidt sold 7,912 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $108.13, for a total transaction of $855,524.56. Following the transaction, the senior vice president now owns 14,754 shares in the company, valued at $1,595,350.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,255 shares of company stock worth $3,215,664. 0.31% of the stock is owned by insiders.

Prudential Financial Stock Up 0.9 %

PRU stock traded up $0.97 during mid-day trading on Friday, hitting $112.26. 1,028,916 shares of the company were exchanged, compared to its average volume of 1,460,168. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a 1-year low of $77.22 and a 1-year high of $118.69. The firm’s 50 day simple moving average is $112.06 and its 200 day simple moving average is $104.21. The firm has a market cap of $40.30 billion, a P/E ratio of 19.09, a P/E/G ratio of 0.83 and a beta of 1.35.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). The company 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 company’s revenue was up 69.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.66 earnings per share. On average, sell-side analysts predict that Prudential Financial, Inc. will post 13.34 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders 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 was Friday, February 16th. This represents a $5.20 annualized dividend and a yield of 4.63%. Prudential Financial’s payout ratio is presently 88.44%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PRU. Raymond James lowered shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, February 9th. Keefe, Bruyette & Woods upped their price target on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Morgan Stanley lifted their price objective on Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Wells Fargo & Company upped their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research report on Thursday, April 11th. Finally, Piper Sandler lifted their price objective on Prudential Financial from $114.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $111.42.

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.