Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Webster Bank N. A.

Webster Bank N. A. cut its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,548 shares of the financial services provider’s stock after selling 558 shares during the quarter. Webster Bank N. A.’s holdings in Prudential Financial were worth $1,369,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Grove Bank & Trust increased its position in shares of Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Prudential Financial during the third quarter worth $31,000. Quarry LP raised its stake in Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after buying an additional 222 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in Prudential Financial during the 4th quarter worth about $37,000. Finally, Tompkins Financial Corp boosted its position in shares of Prudential Financial by 61.7% during the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of Prudential Financial stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.31% of the company’s stock.

Prudential Financial Trading Up 0.3 %

NYSE:PRU opened at $117.22 on Monday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock’s 50 day simple moving average is $121.29 and its 200-day simple moving average is $120.68. Prudential Financial, Inc. has a 12-month low of $100.60 and a 12-month high of $130.55. The firm has a market cap of $41.73 billion, a P/E ratio of 10.42, a PEG ratio of 1.09 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter in the prior year, the firm earned $3.44 EPS. Equities analysts anticipate that Prudential Financial, Inc. will post 13.24 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.44%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s payout ratio is 46.22%.

Analyst Ratings Changes

PRU has been the subject of several recent analyst reports. TD Cowen boosted their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Jefferies Financial Group upped their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Piper Sandler cut their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research note on Thursday. They issued an “underperform” rating and a $101.00 price objective for the company. Finally, Bank of America lifted their target price on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Prudential Financial has an average rating of “Hold” and a consensus target price of $125.31.

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.