Summit Trail Advisors LLC Lowers Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Summit Trail Advisors LLC cut its position in Prudential Financial, Inc. (NYSE:PRU) by 16.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,342 shares of the financial services provider’s stock after selling 462 shares during the quarter. Summit Trail Advisors LLC’s holdings in Prudential Financial were worth $243,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. First Financial Corp IN boosted its position in shares of Prudential Financial by 13.7% during the 4th quarter. First Financial Corp IN now owns 848 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 102 shares during the last quarter. McIlrath & Eck LLC boosted its holdings in Prudential Financial by 18.0% in the 4th quarter. McIlrath & Eck LLC now owns 670 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 102 shares during the last quarter. Cambridge Trust Co. grew its stake in shares of Prudential Financial by 77.2% in the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after buying an additional 105 shares during the period. Mechanics Financial Corp increased its holdings in shares of Prudential Financial by 6.3% during the 4th quarter. Mechanics Financial Corp now owns 1,771 shares of the financial services provider’s stock worth $184,000 after buying an additional 105 shares during the last quarter. Finally, Raab & Moskowitz Asset Management LLC lifted its holdings in Prudential Financial by 1.8% in the fourth quarter. Raab & Moskowitz Asset Management LLC now owns 6,531 shares of the financial services provider’s stock valued at $677,000 after acquiring an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Evercore ISI lifted their target price on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research report on Thursday, April 25th. Piper Sandler decreased their target price on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research report on Monday. Wells Fargo & Company boosted their price target on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. UBS Group increased their price objective on shares of Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Finally, Raymond James cut Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $111.08.

Insiders Place Their Bets

In related news, SVP Robert Axel sold 6,436 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was 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 of the company’s stock, valued at $883,805.86. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP Timothy L. Schmidt sold 7,912 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $108.13, for a total transaction of $855,524.56. Following the transaction, the senior vice president now directly owns 14,754 shares in the company, valued at $1,595,350.02. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Robert Axel sold 6,436 shares of the firm’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 approximately $883,805.86. The disclosure for this sale can be found here. Insiders have sold a total of 29,255 shares of company stock valued at $3,215,664 over the last quarter. Company insiders own 0.34% of the company’s stock.

Prudential Financial Stock Up 0.4 %

PRU stock opened at $116.72 on Thursday. The stock has a market cap of $41.90 billion, a P/E ratio of 19.85, a PEG ratio of 0.83 and a beta of 1.35. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67. Prudential Financial, Inc. has a twelve month low of $77.87 and a twelve month high of $118.69. The company’s 50 day moving average is $112.48 and its two-hundred day moving average is $104.78.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.04). The company had revenue of $15.01 billion for the quarter, compared to analyst estimates of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. Prudential Financial’s revenue was up 69.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.66 earnings per share. Research analysts expect that Prudential Financial, Inc. will post 13.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 21st will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.46%. Prudential Financial’s dividend payout ratio is presently 88.44%.

About Prudential Financial

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.