Prudential Financial, Inc. (NYSE:PRU) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its holdings in Prudential Financial, Inc. (NYSE:PRUFree Report) by 0.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,422 shares of the financial services provider’s stock after selling 315 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Prudential Financial were worth $11,141,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Corient Private Wealth LLC grew its stake in shares of Prudential Financial by 1.7% during the 3rd quarter. Corient Private Wealth LLC now owns 87,022 shares of the financial services provider’s stock valued at $8,258,000 after buying an additional 1,483 shares during the period. Signaturefd LLC grew its position in Prudential Financial by 4.1% during the third quarter. Signaturefd LLC now owns 11,247 shares of the financial services provider’s stock valued at $1,067,000 after acquiring an additional 445 shares during the period. Capula Management Ltd raised its holdings in shares of Prudential Financial by 15.1% in the 3rd quarter. Capula Management Ltd now owns 5,040 shares of the financial services provider’s stock worth $478,000 after purchasing an additional 660 shares during the period. NBC Securities Inc. purchased a new stake in shares of Prudential Financial during the 3rd quarter worth about $264,000. Finally, Ieq Capital LLC increased its position in Prudential Financial by 13.5% during the 3rd quarter. Ieq Capital LLC now owns 16,679 shares of the financial services provider’s stock worth $1,583,000 after purchasing an additional 1,978 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Robert Falzon sold 130,092 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the completion of the transaction, the executive vice president now owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Prudential Financial news, EVP Ann M. Kappler sold 7,222 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the completion of the transaction, the executive vice president now owns 24,381 shares in the company, valued at approximately $2,642,656.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the sale, the executive vice president now owns 202,083 shares in the company, valued at $23,960,981.31. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,536 shares of company stock valued at $19,245,606. 0.31% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on PRU. Wells Fargo & Company boosted their price objective on shares of Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research note on Thursday, April 11th. Jefferies Financial Group upgraded Prudential Financial from a “hold” rating to a “buy” rating and increased their price target for the company from $121.00 to $143.00 in a report on Wednesday. Piper Sandler decreased their target price on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Keefe, Bruyette & Woods raised their target price on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Finally, Raymond James downgraded shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $115.25.

Read Our Latest Research Report on Prudential Financial

Prudential Financial Stock Up 1.4 %

Shares of Prudential Financial stock opened at $119.49 on Thursday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. The business has a 50-day moving average price of $114.43 and a 200 day moving average price of $106.85. Prudential Financial, Inc. has a fifty-two week low of $78.40 and a fifty-two week high of $121.39. The firm has a market cap of $42.90 billion, a P/E ratio of 20.32, a P/E/G ratio of 0.88 and a beta of 1.35.

Prudential Financial (NYSE:PRUGet Free Report) last released its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $14.50 billion. During the same quarter in the previous year, the firm earned $2.66 EPS. The firm’s revenue for the quarter was up 69.9% on a year-over-year basis. On average, sell-side analysts forecast that Prudential Financial, Inc. will post 13.42 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st will be paid a $1.30 dividend. The ex-dividend date is Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.35%. Prudential Financial’s payout ratio is currently 88.44%.

Prudential Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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