Pineridge Advisors LLC Sells 109 Shares of Prudential Financial, Inc. (NYSE:PRU)

Pineridge Advisors LLC cut its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 31.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 237 shares of the financial services provider’s stock after selling 109 shares during the quarter. Pineridge Advisors LLC’s holdings in Prudential Financial were worth $28,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PRU. Choreo LLC increased its stake in shares of Prudential Financial by 163.5% during the fourth quarter. Choreo LLC now owns 6,940 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 4,306 shares during the period. Cullinan Associates Inc. increased its stake in Prudential Financial by 2,355.0% during the 1st quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock worth $17,798,000 after acquiring an additional 145,423 shares during the period. National Bank of Canada FI increased its stake in Prudential Financial by 44.9% during the 1st quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock worth $27,327,000 after acquiring an additional 71,274 shares during the period. Greenwood Capital Associates LLC bought a new position in Prudential Financial during the 4th quarter worth $1,087,000. Finally, Crestline Management LP increased its stake in Prudential Financial by 50.0% during the 4th quarter. Crestline Management LP now owns 60,000 shares of the financial services provider’s stock worth $6,223,000 after acquiring an additional 20,000 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Jefferies Financial Group lowered their price objective on Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Piper Sandler lowered their price objective on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. JPMorgan Chase & Co. lifted their price target on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Citigroup lifted their price target on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Finally, Morgan Stanley lifted their price target on Prudential Financial from $120.00 to $123.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and an average price target of $116.92.

Insider Activity

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

Prudential Financial Trading Down 2.5 %

PRU traded down $3.11 during midday trading on Thursday, hitting $122.21. 1,298,776 shares of the company were exchanged, compared to its average volume of 1,442,483. The firm has a market capitalization of $43.87 billion, a P/E ratio of 21.31, a P/E/G ratio of 0.98 and a beta of 1.34. Prudential Financial, Inc. has a 1-year low of $87.95 and a 1-year high of $128.52. The firm’s 50 day moving average price is $119.61 and its 200-day moving average price is $113.92. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data 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). The business had revenue of $15.01 billion during the quarter, compared to analyst estimates of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The firm’s revenue for the quarter was up 69.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.66 earnings per share. As a group, equities analysts forecast that Prudential Financial, Inc. will post 13.38 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend was Monday, May 20th. Prudential Financial’s dividend payout ratio is 88.44%.

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.