Prudential Financial, Inc. (NYSE:PRU) Holdings Decreased by Summit Trail Advisors LLC

Summit Trail Advisors LLC lessened its holdings in Prudential Financial, Inc. (NYSE:PRU) by 16.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,342 shares of the financial services provider’s stock after selling 462 shares during the quarter. Summit Trail Advisors LLC’s holdings in Prudential Financial were worth $243,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Choreo LLC increased its holdings in shares of Prudential Financial by 163.5% in the 4th quarter. Choreo LLC now owns 6,940 shares of the financial services provider’s stock worth $720,000 after acquiring an additional 4,306 shares during the period. FMR LLC boosted its position in shares of Prudential Financial by 2.9% during the third quarter. FMR LLC now owns 1,315,215 shares of the financial services provider’s stock worth $124,801,000 after buying an additional 36,599 shares during the period. Arvest Investments Inc. bought a new position in Prudential Financial in the 4th quarter worth approximately $2,112,000. Tyche Wealth Partners LLC bought a new stake in Prudential Financial during the 4th quarter valued at $815,000. Finally, Victory Capital Management Inc. boosted its position in Prudential Financial by 14.5% during the 3rd quarter. Victory Capital Management Inc. now owns 268,728 shares of the financial services provider’s stock worth $25,500,000 after acquiring an additional 34,054 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Trading Up 0.4 %

NYSE PRU opened at $116.72 on Thursday. The firm’s 50 day moving average price is $112.48 and its two-hundred day moving average price is $104.78. The stock has a market cap of $41.90 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 0.83 and a beta of 1.35. Prudential Financial, Inc. has a twelve month low of $77.87 and a twelve month high of $118.69. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The business had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. During the same quarter in the prior year, the firm posted $2.66 EPS. The business’s quarterly revenue was up 69.9% compared to the same quarter last year. Equities analysts anticipate that Prudential Financial, Inc. will post 13.36 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 21st will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend is Monday, May 20th. Prudential Financial’s payout ratio is presently 88.44%.

Wall Street Analyst Weigh In

PRU has been the topic of a number of recent analyst reports. Raymond James cut shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, February 9th. Piper Sandler dropped their target price on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Monday. Wells Fargo & Company lifted their price target on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research report on Thursday, April 11th. Evercore ISI lifted their target price on Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a report on Thursday, April 25th. Finally, TheStreet upgraded shares of Prudential Financial from a “c+” rating to an “a-” rating in a research report on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $111.08.

Insiders Place Their Bets

In other news, EVP Andrew F. Sullivan sold 7,685 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total transaction of $857,415.45. Following the transaction, the executive vice president now directly owns 13,691 shares in the company, valued at approximately $1,527,504.87. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, 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 completion of the sale, the senior vice president now owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Andrew F. Sullivan sold 7,685 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total transaction of $857,415.45. Following 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 quarter. 0.34% of the stock is currently owned by corporate 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.