Unigestion Holding SA Has $2.21 Million Position in Prudential Financial, Inc. (NYSE:PRU)

Unigestion Holding SA reduced its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 22.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,823 shares of the financial services provider’s stock after selling 5,657 shares during the period. Unigestion Holding SA’s holdings in Prudential Financial were worth $2,214,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Centricity Wealth Management LLC acquired a new stake in shares of Prudential Financial during the 4th quarter valued at about $29,000. Wingate Wealth Advisors Inc. acquired a new position in Prudential Financial in the fourth quarter valued at about $33,000. Hopwood Financial Services Inc. bought a new stake in Prudential Financial during the fourth quarter worth about $34,000. Lee Danner & Bass Inc. bought a new stake in Prudential Financial during the fourth quarter worth about $35,000. Finally, TCTC Holdings LLC bought a new stake in Prudential Financial during the fourth quarter worth about $37,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Trading Up 0.8%

NYSE:PRU opened at $104.48 on Wednesday. The firm’s fifty day moving average is $103.04 and its 200-day moving average is $112.30. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The firm has a market cap of $36.99 billion, a P/E ratio of 13.99, a P/E/G ratio of 0.98 and a beta of 1.07.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.11. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. The company had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $14.76 billion. During the same quarter in the previous year, the company earned $3.12 EPS. Prudential Financial’s quarterly revenue was down 38.2% compared to the same quarter last year. Equities analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th will be issued a dividend of $1.35 per share. The ex-dividend date is Tuesday, May 20th. This represents a $5.40 annualized dividend and a yield of 5.17%. Prudential Financial’s payout ratio is 85.58%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Prudential Financial from $108.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. UBS Group cut their price objective on shares of Prudential Financial from $122.00 to $110.00 and set a “neutral” rating on the stock in a report on Tuesday, May 27th. Wells Fargo & Company upped their target price on shares of Prudential Financial from $108.00 to $113.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. lowered their target price on shares of Prudential Financial from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Prudential Financial from $120.00 to $117.00 and set a “market perform” rating for the company in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $120.15.

Insiders Place Their Bets

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the sale, the executive vice president now owns 27,072 shares in the company, valued at $2,869,090.56. This represents a 18.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of Prudential Financial stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the transaction, the insider now owns 87,047 shares of the company’s stock, valued at $2,499,989.84. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.25% of the company’s stock.

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.