RFG Advisory LLC Has $481,000 Position in Prudential Financial, Inc. (NYSE:PRU)

RFG Advisory LLC reduced its holdings in Prudential Financial, Inc. (NYSE:PRU) by 43.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,636 shares of the financial services provider’s stock after selling 3,524 shares during the quarter. RFG Advisory LLC’s holdings in Prudential Financial were worth $481,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in PRU. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Prudential Financial in the fourth quarter valued at about $25,000. Bruce G. Allen Investments LLC acquired a new stake in Prudential Financial during the fourth quarter worth about $26,000. Headinvest LLC acquired a new stake in Prudential Financial during the third quarter worth about $27,000. Pacific Center for Financial Services acquired a new stake in Prudential Financial during the first quarter worth about $27,000. Finally, Coppell Advisory Solutions LLC acquired a new stake in Prudential Financial during the second quarter worth about $28,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Andrew F. Sullivan sold 7,685 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 13,691 shares of the company’s stock, valued at $1,527,504.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Andrew F. Sullivan sold 7,685 shares of Prudential Financial stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert Axel sold 6,436 shares of Prudential Financial stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total value of $719,930.96. Following the sale, the senior vice president now directly owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The disclosure for this sale can be found here. Insiders sold 29,255 shares of company stock valued at $3,215,664 over the last ninety days. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group lifted their target price on Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Raymond James downgraded Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. Morgan Stanley lifted their price objective on Prudential Financial from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Piper Sandler lifted their price objective on Prudential Financial from $114.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Finally, Keefe, Bruyette & Woods lifted their price objective on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $110.67.

Prudential Financial Trading Down 1.3 %

NYSE PRU opened at $111.29 on Friday. The business’s 50-day moving average price is $110.91 and its two-hundred day moving average price is $102.48. Prudential Financial, Inc. has a 12 month low of $77.22 and a 12 month high of $118.69. The firm has a market capitalization of $39.95 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 0.83 and a beta of 1.37. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.09). The firm had revenue of $13.02 billion during the quarter, compared to the consensus estimate of $12.99 billion. Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.42 EPS. On average, analysts expect that Prudential Financial, Inc. will post 13.39 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Tuesday, February 20th were given a $1.30 dividend. This is an increase from Prudential Financial’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date was Friday, February 16th. Prudential Financial’s dividend payout ratio (DPR) is currently 77.73%.

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.