Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Aviance Capital Partners LLC

Aviance Capital Partners LLC decreased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 14.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,736 shares of the financial services provider’s stock after selling 646 shares during the quarter. Aviance Capital Partners LLC’s holdings in Prudential Financial were worth $387,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in PRU. Cambridge Trust Co. lifted its position in shares of Prudential Financial by 77.2% during the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 105 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in Prudential Financial in the fourth quarter valued at $26,000. Headinvest LLC acquired a new position in shares of Prudential Financial during the 3rd quarter worth $27,000. Arlington Trust Co LLC grew its stake in Prudential Financial by 151.6% in the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 185 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE acquired a new position in Prudential Financial during the third quarter worth about $39,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Morgan Stanley lifted their target price on shares of Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Piper Sandler cut their target price on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research note on Monday. TheStreet upgraded Prudential Financial from a “c+” rating to an “a-” rating in a report on Tuesday, February 6th. Raymond James lowered shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, February 9th. Finally, Wells Fargo & Company increased their price target on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $111.08.

Prudential Financial Stock Up 0.8 %

Shares of PRU traded up $0.97 during midday trading on Tuesday, reaching $116.23. 1,407,628 shares of the stock were exchanged, compared to its average volume of 1,526,303. The company has a market cap of $41.73 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 0.83 and a beta of 1.35. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. Prudential Financial, Inc. has a 12-month low of $77.87 and a 12-month high of $118.69. The firm has a 50 day simple moving average of $112.48 and a 200-day simple moving average of $104.78.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share for the quarter, missing the consensus estimate of $3.16 by ($0.04). The company had revenue of $15.01 billion during 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 firm’s revenue for the quarter was up 69.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.66 earnings per share. Research analysts forecast that Prudential Financial, Inc. will post 13.36 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.47%. Prudential Financial’s dividend payout ratio is currently 88.44%.

Insider Buying and Selling

In other Prudential Financial news, SVP Timothy L. Schmidt sold 7,912 shares of the firm’s stock in a transaction 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 sale, the senior vice president now directly owns 14,754 shares in the company, valued at approximately $1,595,350.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Timothy L. Schmidt sold 7,912 shares of the stock in a transaction dated Thursday, February 29th. The shares were 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 of the company’s stock, valued at $1,595,350.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert Axel sold 6,436 shares of Prudential Financial stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total value of $719,930.96. Following the transaction, the senior vice president now directly owns 7,901 shares of the company’s stock, valued at $883,805.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,255 shares of company stock valued at $3,215,664. 0.34% of the stock is owned by company insiders.

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.