Alpha Cubed Investments LLC Lowers Position in Prudential Financial, Inc. (NYSE:PRU)

Alpha Cubed Investments LLC trimmed its position in Prudential Financial, Inc. (NYSE:PRU) by 8.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,729 shares of the financial services provider’s stock after selling 158 shares during the period. Alpha Cubed Investments LLC’s holdings in Prudential Financial were worth $205,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Grove Bank & Trust increased its stake in shares of Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 87 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Prudential Financial in the third quarter worth about $31,000. Quarry LP increased its stake in shares of Prudential Financial by 376.3% during the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 222 shares in the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Prudential Financial in the 4th quarter worth approximately $37,000. Finally, Tompkins Financial Corp grew its stake in shares of Prudential Financial by 61.7% in the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after buying an additional 140 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the acquisition, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. The trade was a 12.66 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU stock opened at $120.20 on Wednesday. The stock has a 50 day moving average price of $121.94 and a 200 day moving average price of $120.69. The firm has a market capitalization of $42.79 billion, a P/E ratio of 10.68, a P/E/G ratio of 0.78 and a beta of 1.31. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. Prudential Financial, Inc. has a 52-week low of $100.60 and a 52-week high of $130.55.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same period in the previous year, the firm earned $3.44 earnings per share. As a group, sell-side analysts predict that Prudential Financial, Inc. will post 13.34 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PRU shares. Piper Sandler dropped their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company cut their price target on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Keefe, Bruyette & Woods decreased their price objective on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a report on Thursday, January 16th. Jefferies Financial Group lifted their target price on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Barclays lowered their price target on Prudential Financial from $129.00 to $127.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Eleven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $127.25.

Prudential Financial Company 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.