Moody National Bank Trust Division Decreases Position in Prudential Financial, Inc. (NYSE:PRU)

Moody National Bank Trust Division lessened its holdings in Prudential Financial, Inc. (NYSE:PRU – Get Rating) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,500 shares of the financial services provider’s stock after selling 229 shares during the period. Moody National Bank Trust Division’s holdings in Prudential Financial were worth $1,442,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fiduciary Group LLC raised its stake in Prudential Financial by 4.1% during the 2nd quarter. Fiduciary Group LLC now owns 2,550 shares of the financial services provider’s stock worth $263,000 after acquiring an additional 100 shares in the last quarter. Kistler Tiffany Companies LLC increased its stake in Prudential Financial by 7.3% in the third quarter. Kistler Tiffany Companies LLC now owns 1,481 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 101 shares during the period. Gilbert & Cook Inc. increased its stake in Prudential Financial by 1.3% in the third quarter. Gilbert & Cook Inc. now owns 8,152 shares of the financial services provider’s stock valued at $858,000 after purchasing an additional 104 shares during the period. Savant Capital LLC increased its stake in Prudential Financial by 1.1% in the third quarter. Savant Capital LLC now owns 9,740 shares of the financial services provider’s stock valued at $835,000 after purchasing an additional 105 shares during the period. Finally, Perritt Capital Management Inc. increased its stake in Prudential Financial by 2.0% in the third quarter. Perritt Capital Management Inc. now owns 5,492 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 107 shares during the period. Hedge funds and other institutional investors own 56.33% of the company’s stock.

Prudential Financial Price Performance

PRU stock traded down $4.17 during trading on Friday, reaching $78.02. 16,323,702 shares of the company were exchanged, compared to its average volume of 2,275,648. The company has a market cap of $28.56 billion, a P/E ratio of -19.80, a PEG ratio of 0.54 and a beta of 1.41. Prudential Financial, Inc. has a 52-week low of $76.90 and a 52-week high of $122.54. The stock’s 50 day moving average price is $98.36 and its 200 day moving average price is $98.87. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.07 and a current ratio of 0.07.

Prudential Financial (NYSE:PRU – Get Rating) last released its quarterly earnings data on Tuesday, February 7th. The financial services provider reported $2.42 EPS for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.15). The company had revenue of $12.65 billion for the quarter, compared to analysts’ expectations of $12.78 billion. Prudential Financial had a positive return on equity of 13.31% and a negative net margin of 2.33%. During the same period in the prior year, the firm posted $3.18 EPS. As a group, analysts predict that Prudential Financial, Inc. will post 12.2 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 16th. Shareholders of record on Tuesday, February 21st were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 6.41%. The ex-dividend date of this dividend was Friday, February 17th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.20. Prudential Financial’s dividend payout ratio is -126.90%.

Prudential Financial declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 7th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 2.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PRU shares. Morgan Stanley lifted their price objective on shares of Prudential Financial from $112.00 to $114.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 10th. Piper Sandler restated a “neutral” rating and issued a $106.00 price objective on shares of Prudential Financial in a research note on Wednesday, February 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $110.00 price objective on shares of Prudential Financial in a research note on Thursday, February 9th. StockNews.com began coverage on shares of Prudential Financial in a research note on Thursday. They set a “hold” rating on the stock. Finally, Wells Fargo & Company boosted their price target on shares of Prudential Financial from $97.00 to $100.00 and gave the stock an “underweight” rating in a research note on Monday, February 13th. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. According to data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and a consensus price target of $103.00.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Andrew F. Sullivan sold 4,126 shares of the company’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $99.20, for a total value of $409,299.20. Following the sale, the executive vice president now owns 12,241 shares of the company’s stock, valued at $1,214,307.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Andrew F. Sullivan sold 11,405 shares of the company’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $100.95, for a total transaction of $1,151,334.75. Following the transaction, the executive vice president now owns 12,300 shares of the company’s stock, valued at $1,241,685. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrew F. Sullivan sold 4,126 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $99.20, for a total transaction of $409,299.20. Following the transaction, the executive vice president now directly owns 12,241 shares in the company, valued at approximately $1,214,307.20. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Prudential Financial Company Profile

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Prudential Financial, Inc engages in the provision of insurance, investment management, and other financial products and services to both individual and institutional customers. It operates through the following segments: PGIM, U.S. Businesses, International Businesses, Closed Block, and Corporate and Others.