GeoWealth Management LLC Reduces Stock Position in Prudential Financial, Inc. (NYSE:PRU)

GeoWealth Management LLC decreased its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 5.0% during the fourth quarter, Holdings Channel reports. The firm owned 6,846 shares of the financial services provider’s stock after selling 364 shares during the quarter. GeoWealth Management LLC’s holdings in Prudential Financial were worth $811,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Savant Capital LLC grew its stake in shares of Prudential Financial by 0.6% during the 4th quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock valued at $1,705,000 after purchasing an additional 83 shares during the period. Grove Bank & Trust boosted its stake in shares of Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 87 shares during the last quarter. HBK Sorce Advisory LLC raised its holdings in Prudential Financial by 1.0% in the 4th quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider’s stock worth $1,116,000 after purchasing an additional 91 shares during the period. Asset Dedication LLC increased its position in Prudential Financial by 28.4% in the fourth quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock worth $50,000 after buying an additional 93 shares in the last quarter. Finally, Altman Advisors Inc. increased its holdings in Prudential Financial by 0.6% in the 4th quarter. Altman Advisors Inc. now owns 16,087 shares of the financial services provider’s stock worth $1,907,000 after acquiring an additional 94 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of Prudential Financial stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the transaction, the insider now owns 87,047 shares in the company, valued at $2,499,989.84. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the transaction, the executive vice president now owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. UBS Group decreased their price objective on shares of Prudential Financial from $130.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Barclays cut their target price on Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. reduced their price objective on shares of Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Piper Sandler decreased their price target on shares of Prudential Financial from $122.00 to $110.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company dropped their price target on Prudential Financial from $118.00 to $108.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial has a consensus rating of “Hold” and an average target price of $121.85.

Prudential Financial Trading Up 0.8 %

PRU opened at $99.39 on Friday. The stock’s 50 day moving average price is $107.69 and its 200-day moving average price is $116.87. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market cap of $35.23 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 0.98 and a beta of 1.11.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. On average, equities analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 5.43%. The ex-dividend date was Tuesday, February 18th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is 72.29%.

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.