Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Bison Wealth LLC

Bison Wealth LLC lessened its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,296 shares of the financial services provider’s stock after selling 481 shares during the quarter. Bison Wealth LLC’s holdings in Prudential Financial were worth $1,171,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. lifted its stake in Prudential Financial by 78.5% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 1,573 shares of the financial services provider’s stock worth $163,000 after purchasing an additional 692 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Prudential Financial during the fourth quarter valued at $214,000. Louisiana State Employees Retirement System acquired a new position in Prudential Financial during the fourth quarter worth about $2,261,000. Bray Capital Advisors grew its holdings in Prudential Financial by 4.8% during the fourth quarter. Bray Capital Advisors now owns 9,469 shares of the financial services provider’s stock worth $982,000 after acquiring an additional 435 shares during the period. Finally, Graypoint LLC grew its holdings in Prudential Financial by 10.4% during the fourth quarter. Graypoint LLC now owns 5,137 shares of the financial services provider’s stock worth $533,000 after acquiring an additional 485 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Trading Down 1.2 %

Shares of NYSE PRU opened at $108.36 on Tuesday. The firm has a market capitalization of $38.90 billion, a PE ratio of 16.20, a PEG ratio of 0.74 and a beta of 1.37. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. Prudential Financial, Inc. has a one year low of $77.22 and a one year high of $118.69. The business has a 50-day moving average price of $111.15 and a two-hundred day moving average price of $102.78.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.09). The firm had revenue of $13.02 billion for the quarter, compared to analyst estimates of $12.99 billion. Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.42 earnings per share. As a group, analysts predict that Prudential Financial, Inc. will post 13.4 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.80%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Friday, February 16th. Prudential Financial’s payout ratio is currently 77.73%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PRU shares. Raymond James lowered Prudential Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, February 9th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $118.00 price target (down previously from $119.00) on shares of Prudential Financial in a research report on Wednesday, January 3rd. Keefe, Bruyette & Woods increased their price target on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Piper Sandler increased their price target on Prudential Financial from $114.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Finally, UBS Group increased their price target on Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to MarketBeat.com, Prudential Financial has an average rating of “Hold” and an average target price of $111.33.

Insider Activity

In other news, EVP Andrew F. Sullivan sold 7,685 shares of Prudential Financial stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total transaction of $857,415.45. Following the completion of the sale, the executive vice president now directly owns 13,691 shares in the company, valued at approximately $1,527,504.87. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Prudential Financial 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 value of $782,792.58. Following the transaction, the executive vice president now directly owns 24,381 shares of the company’s stock, valued at approximately $2,642,656.59. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Andrew F. Sullivan sold 7,685 shares of Prudential Financial stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total value of $857,415.45. Following the completion of the transaction, the executive vice president now directly owns 13,691 shares in the company, valued at $1,527,504.87. The disclosure for this sale can be found here. Insiders sold a total of 29,255 shares of company stock worth $3,215,664 in the last three months. 0.34% of the stock is owned by insiders.

Prudential Financial 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.