Prudential Financial, Inc. (NYSE:PRU) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its position in Prudential Financial, Inc. (NYSE:PRU) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,547 shares of the financial services provider’s stock after selling 1,051 shares during the quarter. M&T Bank Corp’s holdings in Prudential Financial were worth $8,561,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Morgan Stanley boosted its holdings in Prudential Financial by 0.9% in the third quarter. Morgan Stanley now owns 6,317,338 shares of the financial services provider’s stock valued at $599,452,000 after purchasing an additional 57,531 shares during the period. Northern Trust Corp increased its stake in Prudential Financial by 4.8% in the 3rd quarter. Northern Trust Corp now owns 4,353,086 shares of the financial services provider’s stock valued at $413,064,000 after buying an additional 197,422 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Prudential Financial by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,273,916 shares of the financial services provider’s stock valued at $215,772,000 after purchasing an additional 38,229 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Prudential Financial by 9,281.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock worth $141,962,000 after purchasing an additional 1,354,248 shares in the last quarter. Finally, FMR LLC lifted its stake in shares of Prudential Financial by 2.9% in the third 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 during the period. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Stock Up 0.9 %

Shares of PRU opened at $112.26 on Monday. The firm has a market capitalization 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. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. The company has a 50-day simple moving average of $112.14 and a 200-day simple moving average of $104.45. Prudential Financial, Inc. has a 52 week low of $77.22 and a 52 week high of $118.69.

Prudential Financial (NYSE:PRU) last released 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 firm had revenue of $15.01 billion during the quarter, compared to the consensus estimate of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. Prudential Financial’s quarterly revenue was up 69.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.66 EPS. On average, equities research analysts expect that Prudential Financial, Inc. will post 13.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were issued a dividend of $1.30 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 4.63%. The ex-dividend date was Friday, February 16th. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Insider Activity at Prudential Financial

In other Prudential Financial news, SVP Robert Axel sold 6,436 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total transaction of $719,930.96. Following the completion of the sale, the senior vice president now directly owns 7,901 shares in the company, valued at $883,805.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Ann M. Kappler sold 7,222 shares of Prudential Financial stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the transaction, the executive vice president now owns 24,381 shares of the company’s stock, valued at $2,642,656.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Robert Axel sold 6,436 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the completion of the transaction, the senior vice president now owns 7,901 shares in the company, valued at approximately $883,805.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,255 shares of company stock worth $3,215,664. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PRU. Piper Sandler upped their target price on Prudential Financial from $114.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Wells Fargo & Company boosted their price objective 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. TheStreet raised shares of Prudential Financial from a “c+” rating to an “a-” rating in a research note on Tuesday, February 6th. Evercore ISI upped their price objective on Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a report on Thursday, April 25th. Finally, UBS Group boosted their price objective on shares of Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. Based on data from MarketBeat, the company has an average 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.