Webster Bank N. A. Sells 1,012 Shares of Prudential Financial, Inc. (NYSE:PRU)

Webster Bank N. A. decreased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,106 shares of the financial services provider’s stock after selling 1,012 shares during the quarter. Webster Bank N. A.’s holdings in Prudential Financial were worth $1,466,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC increased its position in Prudential Financial by 34.7% during the fourth quarter. V Square Quantitative Management LLC now owns 6,255 shares of the financial services provider’s stock worth $649,000 after buying an additional 1,612 shares during the last quarter. Integrated Advisors Network LLC increased its position in Prudential Financial by 600.2% during the fourth quarter. Integrated Advisors Network LLC now owns 40,189 shares of the financial services provider’s stock worth $4,168,000 after buying an additional 34,449 shares during the last quarter. Syon Capital LLC acquired a new position in Prudential Financial during the fourth quarter worth approximately $356,000. Scarborough Advisors LLC acquired a new position in Prudential Financial during the fourth quarter worth approximately $151,000. Finally, Pineridge Advisors LLC acquired a new position in Prudential Financial during the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now directly owns 14,535 shares in the company, valued at $1,648,705.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now directly owns 14,535 shares in the company, valued at $1,648,705.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of Prudential Financial stock in a transaction dated Tuesday, October 8th. The stock was purchased at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. TD Cowen initiated coverage on Prudential Financial in a research report on Wednesday. They issued a “hold” rating and a $130.00 target price on the stock. Citigroup boosted 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. Jefferies Financial Group cut their target price on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Piper Sandler upped their target price on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $121.00 target price on shares of Prudential Financial in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and a consensus target price of $123.69.

Prudential Financial Trading Up 1.7 %

NYSE PRU traded up $2.02 on Friday, reaching $123.72. The company had a trading volume of 1,374,717 shares, compared to its average volume of 1,495,057. The firm has a market cap of $44.42 billion, a price-to-earnings ratio of 21.04, a P/E/G ratio of 0.97 and a beta of 1.30. Prudential Financial, Inc. has a fifty-two week low of $87.95 and a fifty-two week high of $128.52. The business has a 50 day moving average of $116.93 and a two-hundred day moving average of $117.15. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Analysts forecast that Prudential Financial, Inc. will post 13.28 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.20%. Prudential Financial’s payout ratio is currently 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.