Global Retirement Partners LLC Trims Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Global Retirement Partners LLC trimmed its stake in Prudential Financial, Inc. (NYSE:PRUFree Report) by 2.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,180 shares of the financial services provider’s stock after selling 163 shares during the period. Global Retirement Partners LLC’s holdings in Prudential Financial were worth $634,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PRU. Blue Trust Inc. lifted its holdings in shares of Prudential Financial by 20.8% in the 4th quarter. Blue Trust Inc. now owns 2,633 shares of the financial services provider’s stock valued at $249,000 after purchasing an additional 453 shares during the last quarter. McGlone Suttner Wealth Management Inc. grew its position in shares of Prudential Financial by 9.5% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 4,983 shares of the financial services provider’s stock worth $517,000 after acquiring an additional 432 shares during the last quarter. SeaCrest Wealth Management LLC increased its holdings in shares of Prudential Financial by 4.7% in the 4th quarter. SeaCrest Wealth Management LLC now owns 5,528 shares of the financial services provider’s stock valued at $577,000 after acquiring an additional 247 shares during the period. Ellsworth Advisors LLC raised its position in Prudential Financial by 2.1% in the 4th quarter. Ellsworth Advisors LLC now owns 45,902 shares of the financial services provider’s stock valued at $4,761,000 after purchasing an additional 949 shares during the last quarter. Finally, Great Lakes Retirement Inc. grew its position in Prudential Financial by 3.8% during the 4th quarter. Great Lakes Retirement Inc. now owns 7,193 shares of the financial services provider’s stock worth $746,000 after purchasing an additional 262 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Pgim Strategic Investments, In purchased 1,191,895 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was purchased at an average price of $25.17 per share, with a total value of $29,999,997.15. Following the completion of the transaction, the insider now owns 4,056,632 shares of the company’s stock, valued at approximately $102,105,427.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Andrew F. Sullivan sold 7,685 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total value of $857,415.45. Following the completion of the sale, the executive vice president now owns 13,691 shares of the company’s stock, valued at $1,527,504.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Pgim Strategic Investments, In bought 1,191,895 shares of Prudential Financial stock in a transaction dated Tuesday, January 2nd. The shares were purchased at an average cost of $25.17 per share, for a total transaction of $29,999,997.15. Following the completion of the transaction, the insider now owns 4,056,632 shares of the company’s stock, valued at approximately $102,105,427.44. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 29,255 shares of company stock valued at $3,215,664. Insiders own 0.31% of the company’s stock.

Prudential Financial Stock Up 0.3 %

PRU opened at $117.40 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market cap of $42.15 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 0.86 and a beta of 1.36. The business’s fifty day moving average is $109.12 and its two-hundred day moving average is $101.45. Prudential Financial, Inc. has a one year low of $77.22 and a one year high of $117.92.

Prudential Financial (NYSE:PRUGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.09). The business had revenue of $13.02 billion during the quarter, compared to analyst estimates of $12.99 billion. Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The company’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.42 earnings per share. Analysts anticipate that Prudential Financial, Inc. will post 13.4 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were paid a dividend of $1.30 per share. The ex-dividend date was Friday, February 16th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.43%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.25. Prudential Financial’s dividend payout ratio is currently 77.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of Prudential Financial from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. TheStreet raised Prudential Financial from a “c+” rating to an “a-” rating in a report on Tuesday, February 6th. Raymond James downgraded shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $118.00 target price (down previously from $119.00) on shares of Prudential Financial in a report on Wednesday, January 3rd. Finally, UBS Group raised their price objective on shares of Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $105.60.

Read Our Latest Stock Report on Prudential Financial

Prudential Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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