Principle Wealth Partners LLC Sells 1,027 Shares of Prudential Financial, Inc. (NYSE:PRU)

Principle Wealth Partners LLC lowered its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,185 shares of the financial services provider’s stock after selling 1,027 shares during the quarter. Principle Wealth Partners LLC’s holdings in Prudential Financial were worth $5,000,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PRU. Savant Capital LLC boosted its holdings in Prudential Financial by 0.6% in the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock valued at $1,705,000 after acquiring an additional 83 shares in the last quarter. Grove Bank & Trust lifted its position 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 purchasing an additional 87 shares during the period. Avidian Wealth Enterprises LLC boosted its stake in shares of Prudential Financial by 1.2% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock valued at $891,000 after purchasing an additional 89 shares in the last quarter. Asset Dedication LLC raised its stake in Prudential Financial by 28.4% in the fourth quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock worth $50,000 after buying an additional 93 shares in the last quarter. Finally, RNC Capital Management LLC lifted its holdings in Prudential Financial by 3.3% in the fourth quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider’s stock worth $354,000 after buying an additional 95 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of Prudential Financial stock in a transaction dated Monday, November 25th. The stock was purchased at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods decreased their target price on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research report on Thursday, January 16th. Wells Fargo & Company lowered their price objective on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. BMO Capital Markets started coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price on the stock. Jefferies Financial Group lifted their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their target price for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and a consensus target price of $125.77.

Prudential Financial Stock Performance

PRU stock opened at $111.98 on Tuesday. The stock has a market capitalization of $39.86 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 1.00 and a beta of 1.31. The stock’s 50 day simple moving average is $119.41 and its 200 day simple moving average is $120.23. Prudential Financial, Inc. has a 12-month low of $104.02 and a 12-month high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.14 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data 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 net margin of 4.01% and a return on equity of 15.86%. As a group, research analysts forecast that Prudential Financial, Inc. will post 14.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be given a dividend of $1.35 per share. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a yield of 4.82%. Prudential Financial’s dividend payout ratio is 69.61%.

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.