Prudential Financial, Inc. (NYSE:PRU) Stake Decreased by Wells Fargo & Company MN

Wells Fargo & Company MN lessened its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,132,152 shares of the financial services provider’s stock after selling 38,784 shares during the quarter. Wells Fargo & Company MN’s holdings in Prudential Financial were worth $117,416,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in PRU. Corient Private Wealth LLC increased its stake in shares of Prudential Financial by 1.7% during the third quarter. Corient Private Wealth LLC now owns 87,022 shares of the financial services provider’s stock valued at $8,258,000 after acquiring an additional 1,483 shares during the period. Signaturefd LLC increased its stake in shares of Prudential Financial by 4.1% during the third quarter. Signaturefd LLC now owns 11,247 shares of the financial services provider’s stock valued at $1,067,000 after acquiring an additional 445 shares during the period. Capula Management Ltd increased its stake in shares of Prudential Financial by 15.1% during the third quarter. Capula Management Ltd now owns 5,040 shares of the financial services provider’s stock valued at $478,000 after acquiring an additional 660 shares during the period. NBC Securities Inc. acquired a new position in shares of Prudential Financial during the third quarter valued at approximately $264,000. Finally, Ieq Capital LLC grew its position in Prudential Financial by 13.5% in the third quarter. Ieq Capital LLC now owns 16,679 shares of the financial services provider’s stock worth $1,583,000 after buying an additional 1,978 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of PRU opened at $119.49 on Thursday. The company has a market capitalization of $42.90 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 0.88 and a beta of 1.35. Prudential Financial, Inc. has a one year low of $78.40 and a one year high of $121.39. 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 company’s fifty day moving average price is $114.43 and its 200 day moving average price is $106.85.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The company had revenue of $15.01 billion for the quarter, compared to the consensus estimate of $14.50 billion. During the same quarter in the previous year, the firm posted $2.66 EPS. The business’s revenue for the quarter was up 69.9% compared to the same quarter last year. As a group, analysts expect that Prudential Financial, Inc. will post 13.42 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 21st will be paid a $1.30 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.35%. Prudential Financial’s payout ratio is currently 88.44%.

Insider Buying and Selling at Prudential Financial

In related news, EVP Robert Falzon sold 130,092 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were 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 in the company, valued at $23,960,981.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Robert Falzon sold 130,092 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were 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 in the company, valued at $23,960,981.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Timothy L. Schmidt sold 5,189 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total transaction of $604,933.62. Following the completion of the sale, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The disclosure for this sale can be found here. Insiders have sold a total of 164,536 shares of company stock worth $19,245,606 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on PRU. UBS Group lifted their price target on shares of Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Evercore ISI lifted their price target on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research report on Thursday, April 25th. Keefe, Bruyette & Woods lifted their price target on shares of Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Piper Sandler lowered their price objective on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Finally, Jefferies Financial Group upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $121.00 to $143.00 in a research report on Wednesday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $115.25.

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.