Wedmont Private Capital Buys 151 Shares of Prudential Financial, Inc. (NYSE:PRU)

Wedmont Private Capital increased its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 5.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,765 shares of the financial services provider’s stock after purchasing an additional 151 shares during the quarter. Wedmont Private Capital’s holdings in Prudential Financial were worth $316,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cambridge Trust Co. boosted its stake 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 acquiring an additional 105 shares during the last quarter. Bruce G. Allen Investments LLC bought a new position in Prudential Financial in the fourth quarter valued at approximately $26,000. Headinvest LLC bought a new position in Prudential Financial in the third quarter valued at approximately $27,000. Arlington Trust Co LLC boosted its stake in Prudential Financial by 151.6% in the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 185 shares during the last quarter. Finally, Pineridge Advisors LLC bought a new position in Prudential Financial in the fourth quarter valued at approximately $36,000. 56.83% of the stock is owned by institutional investors.

Prudential Financial Stock Performance

Shares of PRU opened at $117.73 on Friday. The firm has a 50-day moving average of $115.44 and a 200-day moving average of $110.30. Prudential Financial, Inc. has a one year low of $83.34 and a one year high of $121.39. The company has a market cap of $42.27 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 0.88 and a beta of 1.35. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 EPS 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 firm had revenue of $15.01 billion during the quarter, compared to the consensus estimate of $14.50 billion. During the same period last year, the business earned $2.66 EPS. The business’s revenue was up 69.9% on a year-over-year basis. As a group, equities analysts forecast that Prudential Financial, Inc. will post 13.41 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Tuesday, May 21st were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Monday, May 20th. Prudential Financial’s payout ratio is 88.44%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Piper Sandler reduced their price target on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Evercore ISI lifted their price target on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research report on Thursday, April 25th. Keefe, Bruyette & Woods lifted their price target on shares of Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Wells Fargo & Company lifted their price target on shares of Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research report on Thursday, April 11th. Finally, Morgan Stanley lifted their price target on shares of Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and an average target price of $115.25.

Insider Buying and Selling

In related news, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total transaction of $604,933.62. Following the completion of the sale, the senior vice president now owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Prudential Financial news, EVP Robert Falzon sold 130,092 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $118.57, for a total value of $15,425,008.44. Following the completion of the sale, the executive vice president now owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Timothy L. Schmidt sold 5,189 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total transaction of $604,933.62. Following the completion of the sale, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by 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.