Wealthcare Advisory Partners LLC Sells 328 Shares of Prudential Financial, Inc. (NYSE:PRU)

Wealthcare Advisory Partners LLC decreased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 5.4% during the fourth quarter, HoldingsChannel reports. The fund owned 5,693 shares of the financial services provider’s stock after selling 328 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Prudential Financial were worth $675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. State Street Corp grew its stake in Prudential Financial by 0.3% during the third quarter. State Street Corp now owns 17,007,013 shares of the financial services provider’s stock valued at $2,059,549,000 after acquiring an additional 49,830 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Prudential Financial by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock valued at $1,047,872,000 after purchasing an additional 341,787 shares during the period. Legal & General Group Plc grew its position in shares of Prudential Financial by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock valued at $415,134,000 after purchasing an additional 305,143 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Prudential Financial by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider’s stock worth $370,327,000 after purchasing an additional 47,561 shares during the period. Finally, FMR LLC boosted its stake in Prudential Financial by 31.3% during the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after buying an additional 344,254 shares during the period. 56.83% of the stock is owned by institutional investors.

Prudential Financial Trading Up 0.5 %

NYSE PRU opened at $118.98 on Tuesday. The firm has a market cap of $42.36 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 0.75 and a beta of 1.31. Prudential Financial, Inc. has a 1-year low of $100.60 and a 1-year high of $130.55. The stock has a 50-day moving average of $122.06 and a 200-day moving average of $120.69. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The firm had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the previous year, the company posted $3.44 earnings per share. As a group, sell-side analysts forecast that Prudential Financial, Inc. will post 13.34 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s payout ratio is 46.22%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the transaction, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PRU shares. Keefe, Bruyette & Woods decreased their target price on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a research note on Thursday, January 16th. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their target price for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Piper Sandler cut their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Jefferies Financial Group raised their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, TD Cowen upped their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Eleven analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Prudential Financial has a consensus rating of “Hold” and an average price target of $127.25.

About Prudential Financial

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.