Aviance Capital Partners LLC Has $389,000 Holdings in Prudential Financial, Inc. (NYSE:PRU)

Aviance Capital Partners LLC reduced its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 11.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,313 shares of the financial services provider’s stock after selling 423 shares during the quarter. Aviance Capital Partners LLC’s holdings in Prudential Financial were worth $389,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Bruce G. Allen Investments LLC raised its stake in Prudential Financial by 38.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 352 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 98 shares during the last quarter. First Financial Corp IN raised its stake in shares of 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 buying an additional 102 shares in the last quarter. McIlrath & Eck LLC raised its stake in shares of Prudential Financial by 18.0% in the 4th quarter. McIlrath & Eck LLC now owns 670 shares of the financial services provider’s stock valued at $69,000 after buying an additional 102 shares in the last quarter. Cambridge Trust Co. raised its stake in shares of Prudential Financial by 77.2% in the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after buying an additional 105 shares in the last quarter. Finally, Mechanics Financial Corp raised its stake in shares of Prudential Financial by 6.3% in the 4th quarter. Mechanics Financial Corp now owns 1,771 shares of the financial services provider’s stock valued at $184,000 after buying an additional 105 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price objective 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. Keefe, Bruyette & Woods increased their price objective on shares of Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Wells Fargo & Company upped their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a report on Thursday, April 11th. Evercore ISI upped their target price on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a report on Thursday, April 25th. Finally, Morgan Stanley upped their target price on shares of Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $115.08.

Prudential Financial Price Performance

NYSE:PRU traded up $0.89 during mid-day trading on Monday, reaching $118.08. 109,204 shares of the company were exchanged, compared to its average volume of 1,474,364. Prudential Financial, Inc. has a 12 month low of $87.57 and a 12 month high of $121.39. The company has a fifty day moving average of $116.38 and a 200 day moving average of $110.96. 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 stock has a market cap of $42.39 billion, a PE ratio of 20.13, a PEG ratio of 0.88 and a beta of 1.34.

Prudential Financial (NYSE:PRU) last issued 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 return on equity of 15.50% and a net margin of 3.76%. The company had revenue of $15.01 billion for the quarter, compared to the consensus estimate of $14.50 billion. During the same period in the prior year, the company earned $2.66 EPS. The firm’s revenue was up 69.9% compared to the same quarter last year. On average, research analysts anticipate that Prudential Financial, Inc. will post 13.41 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.40%. The ex-dividend date was Monday, May 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of Prudential Financial stock in a transaction dated Thursday, June 20th. The shares were bought at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the purchase, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the transaction, the insider now directly owns 3,883,390 shares of the company’s stock, valued at approximately $107,065,062.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert Falzon sold 130,092 shares of the stock in a transaction that occurred 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 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. Insiders own 0.34% of the company’s stock.

Prudential Financial 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.