Trust Co. of Virginia VA Sells 334 Shares of Prudential Financial, Inc. (NYSE:PRU)

Trust Co. of Virginia VA lowered its position in Prudential Financial, Inc. (NYSE:PRU) by 16.2% in the first quarter, HoldingsChannel.com reports. The fund owned 1,732 shares of the financial services provider’s stock after selling 334 shares during the quarter. Trust Co. of Virginia VA’s holdings in Prudential Financial were worth $203,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PRU. Bruce G. Allen Investments LLC boosted its stake in Prudential Financial by 38.6% in the first quarter. Bruce G. Allen Investments LLC now owns 352 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 98 shares in the last quarter. First Financial Corp IN increased its position in Prudential Financial by 13.7% in the 4th quarter. First Financial Corp IN now owns 848 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 102 shares in the last quarter. McIlrath & Eck LLC lifted its position in shares of Prudential Financial by 18.0% during the fourth quarter. McIlrath & Eck LLC now owns 670 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 102 shares in the last quarter. Cambridge Trust Co. increased its holdings in shares of 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 in the last quarter. Finally, Mechanics Financial Corp raised its position in Prudential Financial by 6.3% in the 4th quarter. Mechanics Financial Corp now owns 1,771 shares of the financial services provider’s stock worth $184,000 after purchasing an additional 105 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $117.19 on Friday. Prudential Financial, Inc. has a 12 month low of $86.69 and a 12 month high of $121.39. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $42.07 billion, a PE ratio of 19.93, a PEG ratio of 0.88 and a beta of 1.35. The stock’s fifty day simple moving average is $116.38 and its 200 day simple moving average is $110.91.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The business had revenue of $15.01 billion for the quarter, compared to the consensus estimate of $14.50 billion. During the same period in the previous year, the company posted $2.66 earnings per share. Prudential Financial’s revenue for the quarter was up 69.9% compared to the same quarter last year. On average, research analysts predict that Prudential Financial, Inc. will post 13.41 EPS 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 paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date was Monday, May 20th. Prudential Financial’s payout ratio is presently 88.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PRU shares. Piper Sandler lowered their target price on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Morgan Stanley boosted their price objective on Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Evercore ISI raised their target price on shares of Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research note on Thursday, April 25th. Jefferies Financial Group dropped their price target on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. 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 MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and an average price target of $115.08.

Insiders Place Their Bets

In other news, EVP Robert Falzon sold 130,092 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was 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 directly owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was acquired at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the purchase, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Falzon sold 130,092 shares of the company’s stock in a transaction on Monday, May 13th. The stock was 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 directly owns 202,083 shares in the company, valued at $23,960,981.31. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

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.