TRUE Private Wealth Advisors Sells 637 Shares of Prudential Financial, Inc. (NYSE:PRU)

TRUE Private Wealth Advisors cut its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 22.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,199 shares of the financial services provider’s stock after selling 637 shares during the period. TRUE Private Wealth Advisors’ holdings in Prudential Financial were worth $228,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PRU. Sanctuary Wealth Management L.L.C. purchased a new stake in Prudential Financial during the fourth quarter valued at approximately $25,000. Bruce G. Allen Investments LLC purchased a new stake in Prudential Financial during the fourth quarter valued at approximately $26,000. Headinvest LLC purchased a new stake in Prudential Financial during the third quarter valued at approximately $27,000. Pacific Center for Financial Services purchased a new stake in Prudential Financial during the first quarter valued at approximately $27,000. Finally, Coppell Advisory Solutions LLC purchased a new stake in Prudential Financial during the second quarter valued at approximately $28,000. 56.83% of the stock is currently owned by institutional investors.

Insider Transactions at Prudential Financial

In other news, EVP Andrew F. Sullivan sold 7,685 shares of the business’s stock in a transaction dated 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 can be accessed through the SEC website. In other news, SVP Robert Axel sold 6,436 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total transaction of $719,930.96. Following the completion of the sale, the senior vice president now owns 7,901 shares of the company’s stock, valued at $883,805.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew F. Sullivan sold 7,685 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total transaction of $857,415.45. Following the sale, the executive vice president now directly owns 13,691 shares of the company’s stock, 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. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on PRU shares. Wells Fargo & Company increased their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research report on Thursday, April 11th. Raymond James cut shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, February 9th. Piper Sandler raised their price target on shares of Prudential Financial from $114.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $118.00 price target (down previously from $119.00) on shares of Prudential Financial in a report on Wednesday, January 3rd. Finally, Morgan Stanley raised their price target on shares of Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $111.33.

Prudential Financial Stock Up 1.3 %

PRU opened at $108.70 on Friday. Prudential Financial, Inc. has a fifty-two week low of $77.22 and a fifty-two week high of $118.69. 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 fifty day moving average of $111.20 and a two-hundred day moving average of $102.94. The stock has a market capitalization of $39.02 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 0.73 and a beta of 1.37.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The firm 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 firm posted $2.42 EPS. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. On average, research analysts expect that Prudential Financial, Inc. will post 13.38 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Tuesday, February 20th were issued a $1.30 dividend. 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 4.78%. Prudential Financial’s payout ratio is presently 77.73%.

Prudential Financial 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.