Heritage Wealth Advisors Cuts Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Heritage Wealth Advisors lessened its position in Prudential Financial, Inc. (NYSE:PRU) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,654 shares of the financial services provider’s stock after selling 112 shares during the quarter. Heritage Wealth Advisors’ holdings in Prudential Financial were worth $196,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Savant Capital LLC boosted its stake in Prudential Financial by 0.6% during the 4th quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock worth $1,705,000 after purchasing an additional 83 shares during the last quarter. Grove Bank & Trust boosted its position in Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 87 shares during the last quarter. HBK Sorce Advisory LLC raised its holdings in Prudential Financial by 1.0% in the 4th quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider’s stock valued at $1,116,000 after acquiring an additional 91 shares during the last quarter. Asset Dedication LLC lifted its stake in Prudential Financial by 28.4% in the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 93 shares in the last quarter. Finally, RNC Capital Management LLC boosted its holdings in shares of Prudential Financial by 3.3% during the 4th quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider’s stock worth $354,000 after purchasing an additional 95 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the purchase, the insider now owns 87,047 shares in the company, valued at approximately $2,499,989.84. This trade represents a ? increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the sale, the executive vice president now owns 27,072 shares in the company, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PRU. Piper Sandler dropped their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. BMO Capital Markets assumed coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price target for the company. Keefe, Bruyette & Woods decreased their price objective on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. TD Cowen raised their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Finally, Jefferies Financial Group upped their price target on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and an average price target of $126.15.

Prudential Financial Trading Up 1.0 %

NYSE PRU opened at $114.32 on Wednesday. Prudential Financial, Inc. has a one year low of $104.45 and a one year high of $130.55. The firm has a 50 day simple moving average of $113.44 and a 200-day simple moving average of $119.01. The firm has a market cap of $40.93 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 0.98 and a beta of 1.28. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. Equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio (DPR) is presently 72.29%.

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.