Herold Advisors Inc. Sells 210 Shares of Prudential Financial, Inc. (NYSE:PRU)

Herold Advisors Inc. trimmed its stake in Prudential Financial, Inc. (NYSE:PRU – Get Rating) by 5.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,480 shares of the financial services provider’s stock after selling 210 shares during the period. Herold Advisors Inc.’s holdings in Prudential Financial were worth $298,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Fairfield Bush & CO. acquired a new stake in shares of Prudential Financial in the first quarter valued at about $36,000. Blair William & Co. IL grew its position in shares of Prudential Financial by 11.3% in the first quarter. Blair William & Co. IL now owns 50,600 shares of the financial services provider’s stock valued at $5,979,000 after purchasing an additional 5,126 shares during the last quarter. Sei Investments Co. grew its position in shares of Prudential Financial by 6.4% in the first quarter. Sei Investments Co. now owns 90,235 shares of the financial services provider’s stock valued at $10,698,000 after purchasing an additional 5,452 shares during the last quarter. Candriam Luxembourg S.C.A. grew its position in shares of Prudential Financial by 0.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 47,576 shares of the financial services provider’s stock valued at $5,621,000 after purchasing an additional 326 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its stake in shares of Prudential Financial by 36.4% in the first quarter. Baird Financial Group Inc. now owns 135,716 shares of the financial services provider’s stock valued at $16,037,000 after buying an additional 36,184 shares during the period. 56.33% of the stock is owned by institutional investors.

Prudential Financial Trading Down 1.0 %

Shares of PRU traded down $1.03 on Thursday, reaching $103.23. 484,677 shares of the company’s stock were exchanged, compared to its average volume of 1,393,599. The stock has a market capitalization of $38.40 billion, a P/E ratio of 144.81 and a beta of 1.42. The business has a 50 day moving average price of $101.58 and a two-hundred day moving average price of $99.34. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.16. Prudential Financial, Inc. has a 12 month low of $85.46 and a 12 month high of $124.22.

Prudential Financial (NYSE:PRU – Get Rating) last issued its quarterly earnings data on Tuesday, November 1st. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.08). The firm had revenue of $21.61 billion for the quarter, compared to analyst estimates of $12.76 billion. Prudential Financial had a net margin of 0.52% and a return on equity of 10.20%. Research analysts anticipate that Prudential Financial, Inc. will post 9.6 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Tuesday, November 22nd were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend was Monday, November 21st. Prudential Financial’s dividend payout ratio is currently 666.67%.

Insider Activity at Prudential Financial

In other news, EVP Ann M. Kappler sold 3,609 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $108.62, for a total value of $392,009.58. Following the completion of the transaction, the executive vice president now owns 9,779 shares in the company, valued at $1,062,194.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Ann M. Kappler sold 3,609 shares of the stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $108.62, for a total transaction of $392,009.58. Following the completion of the transaction, the executive vice president now owns 9,779 shares in the company, valued at $1,062,194.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Timothy L. Schmidt sold 2,000 shares of the stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $103.55, for a total transaction of $207,100.00. Following the transaction, the senior vice president now owns 16,198 shares of the company’s stock, valued at approximately $1,677,302.90. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PRU shares. Raymond James cut shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday, November 23rd. Wells Fargo & Company decreased their target price on shares of Prudential Financial from $101.00 to $97.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 18th. Piper Sandler decreased their target price on shares of Prudential Financial from $110.00 to $106.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 20th. JPMorgan Chase & Co. decreased their target price on shares of Prudential Financial from $122.00 to $118.00 and set a “neutral” rating on the stock in a research report on Friday, October 7th. Finally, Morgan Stanley lifted their target price on shares of Prudential Financial from $112.00 to $114.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 10th. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $103.08.

Prudential Financial Profile

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Prudential Financial, Inc engages in the provision of insurance, investment management, and other financial products and services to both individual and institutional customers. It operates through the following segments: PGIM, U.S. Businesses, International Businesses, Closed Block, and Corporate and Others.