Great Valley Advisor Group Inc. Trims Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Great Valley Advisor Group Inc. trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 6.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,798 shares of the financial services provider’s stock after selling 390 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Prudential Financial were worth $601,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on PRU shares. TheStreet upgraded shares of Prudential Financial from a “c+” rating to an “a-” rating in a research report on Tuesday, February 6th. Evercore ISI lifted their price target on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research note on Thursday, April 25th. Raymond James downgraded Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. Piper Sandler boosted their price objective 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, Wells Fargo & Company lifted their price target on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $111.42.

Prudential Financial Trading Up 0.9 %

Shares of PRU opened at $112.26 on Friday. The firm’s fifty day moving average is $112.14 and its two-hundred day moving average is $104.33. The stock has a market cap of $40.30 billion, a PE ratio of 19.09, a price-to-earnings-growth 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 52-week low of $77.22 and a 52-week high of $118.69.

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

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend was Friday, February 16th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. Prudential Financial’s dividend payout ratio (DPR) is currently 88.44%.

Insiders Place Their Bets

In other news, SVP Timothy L. Schmidt sold 7,912 shares of Prudential Financial stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total transaction of $855,524.56. Following the transaction, the senior vice president now owns 14,754 shares in the company, valued at approximately $1,595,350.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Robert Axel sold 6,436 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the completion of the transaction, the senior vice president now directly owns 7,901 shares in the company, valued at $883,805.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Timothy L. Schmidt sold 7,912 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was 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 of the company’s stock, valued at approximately $1,595,350.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,255 shares of company stock valued at $3,215,664. Insiders own 0.31% of the company’s stock.

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.