Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Diversified Trust Co

Diversified Trust Co lowered its position in Prudential Financial, Inc. (NYSE:PRU) by 46.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,222 shares of the financial services provider’s stock after selling 6,261 shares during the period. Diversified Trust Co’s holdings in Prudential Financial were worth $848,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Cambridge Trust Co. boosted its stake in shares of Prudential Financial by 77.2% during the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 105 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of Prudential Financial during the 4th quarter worth approximately $26,000. Headinvest LLC purchased a new stake in shares of Prudential Financial during the 3rd quarter worth approximately $27,000. Arlington Trust Co LLC raised its position in shares of Prudential Financial by 151.6% during the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 185 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in shares of Prudential Financial during the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PRU shares. Keefe, Bruyette & Woods lifted their price objective on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Evercore ISI lifted their price objective on Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research report on Thursday, April 25th. Jefferies Financial Group cut their price objective on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, June 28th. JPMorgan Chase & Co. boosted their price target on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Wells Fargo & Company boosted their price target on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $115.92.

Prudential Financial Stock Up 0.9 %

Shares of Prudential Financial stock opened at $118.55 on Wednesday. The company has a fifty day moving average price of $116.50 and a 200 day moving average price of $111.05. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67. Prudential Financial, Inc. has a twelve month low of $87.57 and a twelve month high of $121.39. The stock has a market cap of $42.56 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 0.88 and a beta of 1.34.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share 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 analysts’ expectations of $14.50 billion. During the same period last year, the company posted $2.66 earnings per share. The firm’s revenue for the quarter was up 69.9% on a year-over-year basis. Equities research analysts forecast that Prudential Financial, Inc. will post 13.41 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were given a $1.30 dividend. The ex-dividend date was Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.39%. Prudential Financial’s payout ratio is currently 88.44%.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total value of $604,933.62. Following the completion of the transaction, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were acquired at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the purchase, the insider now owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Timothy L. Schmidt sold 5,189 shares of the company’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 owns 12,236 shares in the company, valued at approximately $1,426,472.88. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

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.