Geneos Wealth Management Inc. Sells 5,205 Shares of Prudential Financial, Inc. (NYSE:PRU)

Geneos Wealth Management Inc. cut its holdings in Prudential Financial, Inc. (NYSE:PRU) by 62.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,119 shares of the financial services provider’s stock after selling 5,205 shares during the period. Geneos Wealth Management Inc.’s holdings in Prudential Financial were worth $323,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Prudential Financial in the 4th quarter worth about $25,000. Bruce G. Allen Investments LLC bought a new stake in shares of Prudential Financial in the 4th quarter worth about $26,000. Headinvest LLC bought a new position in Prudential Financial during the 3rd quarter valued at about $27,000. Fairfield Bush & CO. bought a new position in Prudential Financial during the 1st quarter valued at about $36,000. Finally, Arlington Trust Co LLC grew its holdings in Prudential Financial by 151.6% during the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 185 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Price Performance

Shares of PRU opened at $109.69 on Friday. The company has a 50 day moving average price of $111.04 and a 200-day moving average price of $102.62. Prudential Financial, Inc. has a fifty-two week low of $77.22 and a fifty-two week high of $118.69. The stock has a market capitalization of $39.38 billion, a PE ratio of 16.40, a PEG ratio of 0.74 and a beta of 1.37. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13.

Prudential Financial (NYSE:PRU) last announced 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). Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The business had revenue of $13.02 billion during the quarter, compared to analysts’ expectations of $12.99 billion. During the same period in the previous year, the company posted $2.42 EPS. Prudential Financial’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts predict that Prudential Financial, Inc. will post 13.4 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were given a dividend of $1.30 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Friday, February 16th. This represents a $5.20 dividend on an annualized basis and a yield of 4.74%. Prudential Financial’s dividend payout ratio is presently 77.73%.

Insider Activity at Prudential Financial

In related news, EVP Andrew F. Sullivan sold 7,685 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were 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 at this hyperlink. In other Prudential Financial news, SVP Robert Axel sold 6,436 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total transaction of $719,930.96. Following the transaction, the senior vice president now owns 7,901 shares in the company, valued at approximately $883,805.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew F. Sullivan sold 7,685 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total transaction of $857,415.45. Following the transaction, the executive vice president now owns 13,691 shares in the company, valued at approximately $1,527,504.87. 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 90 days. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. UBS Group upped their price target on shares of Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Piper Sandler upped their price target on shares of Prudential Financial from $114.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Raymond James downgraded shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, February 9th. Morgan Stanley upped their price target on shares of Prudential Financial from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Finally, Wells Fargo & Company boosted their price objective on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $110.67.

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.