Trust Co. of Vermont decreased its position in shares of Prudential Financial Inc (NYSE:PRU) by 11.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 961 shares of the financial services provider’s stock after selling 125 shares during the period. Trust Co. of Vermont’s holdings in Prudential Financial were worth $90,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Candriam Luxembourg S.C.A. grew its holdings in Prudential Financial by 1.4% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 241,941 shares of the financial services provider’s stock valued at $25,000 after buying an additional 3,264 shares in the last quarter. Asset Dedication LLC grew its holdings in Prudential Financial by 206.7% during the 3rd quarter. Asset Dedication LLC now owns 276 shares of the financial services provider’s stock valued at $26,000 after buying an additional 186 shares in the last quarter. Legacy Bridge LLC purchased a new stake in Prudential Financial during the 4th quarter valued at approximately $33,000. Garrett Wealth Advisory Group LLC purchased a new stake in Prudential Financial during the 3rd quarter valued at approximately $34,000. Finally, Northern Oak Wealth Management Inc. purchased a new stake in Prudential Financial during the 3rd quarter valued at approximately $36,000. Institutional investors own 62.01% of the company’s stock.
Shares of PRU stock traded down $1.47 on Friday, reaching $94.10. The company’s stock had a trading volume of 708,456 shares, compared to its average volume of 1,910,114. The stock’s fifty day simple moving average is $94.12 and its 200-day simple moving average is $90.61. Prudential Financial Inc has a 1 year low of $77.65 and a 1 year high of $106.39. The company has a current ratio of 0.10, a quick ratio of 0.11 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $38.15 billion, a price-to-earnings ratio of 9.29, a price-to-earnings-growth ratio of 0.85 and a beta of 1.53.
Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.31. Prudential Financial had a net margin of 7.20% and a return on equity of 7.81%. The firm had revenue of $17.45 billion during the quarter, compared to analyst estimates of $14.23 billion. During the same period last year, the firm posted $2.44 earnings per share. Equities research analysts forecast that Prudential Financial Inc will post 12.33 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Tuesday, February 18th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.68%. Prudential Financial’s dividend payout ratio (DPR) is 34.22%.
A number of brokerages have issued reports on PRU. DOWLING & PARTN reaffirmed a “buy” rating on shares of Prudential Financial in a report on Monday, November 18th. Royal Bank of Canada reaffirmed a “buy” rating and set a $110.00 price objective on shares of Prudential Financial in a report on Sunday, December 22nd. Credit Suisse Group cut their price objective on shares of Prudential Financial from $90.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Wells Fargo & Co lowered shares of Prudential Financial from an “outperform” rating to a “market perform” rating and set a $92.00 price objective for the company. in a report on Tuesday, November 5th. Finally, ValuEngine lowered shares of Prudential Financial from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. Prudential Financial presently has an average rating of “Hold” and an average target price of $97.33.
In other Prudential Financial news, CEO Charles F. Lowrey sold 33,603 shares of Prudential Financial stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $96.32, for a total transaction of $3,236,640.96. Following the completion of the transaction, the chief executive officer now directly owns 95,189 shares of the company’s stock, valued at $9,168,604.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Falzon sold 39,748 shares of Prudential Financial stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $96.44, for a total transaction of $3,833,297.12. Following the transaction, the executive vice president now directly owns 85,396 shares of the company’s stock, valued at $8,235,590.24. The disclosure for this sale can be found here. Company insiders own 0.76% of the company’s stock.
Prudential Financial Company Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
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