AmeriServ Wealth Advisors Invests $302,000 in Prudential Financial, Inc. (NYSE:PRU)

AmeriServ Wealth Advisors acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,547 shares of the financial services provider's stock, valued at approximately $302,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Grove Bank & Trust increased its stake in shares of Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 87 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in Prudential Financial in the fourth quarter valued at $29,000. CGC Financial Services LLC raised its holdings in shares of Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock worth $33,000 after purchasing an additional 124 shares during the period. Wingate Wealth Advisors Inc. acquired a new stake in shares of Prudential Financial in the fourth quarter worth $33,000. Finally, Hopwood Financial Services Inc. purchased a new stake in shares of Prudential Financial during the fourth quarter worth about $34,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Down 0.7 %

NYSE:PRU traded down $0.77 during trading hours on Tuesday, reaching $101.90. The company had a trading volume of 1,787,100 shares, compared to its average volume of 1,608,986. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The business's 50-day simple moving average is $105.70 and its two-hundred day simple moving average is $115.17. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. The firm has a market cap of $36.12 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 0.98 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share for the quarter, beating analysts' consensus estimates of $3.18 by $0.11. The company had revenue of $13.61 billion for the quarter, compared to analyst estimates of $14.76 billion. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. The firm's revenue was down 38.2% on a year-over-year basis. During the same period last year, the firm earned $3.12 earnings per share. On average, equities analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.30%. Prudential Financial's payout ratio is 85.58%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. BMO Capital Markets initiated coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price target for the company. Barclays cut their price target on Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Morgan Stanley lowered their target price on shares of Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. UBS Group dropped their price target on shares of Prudential Financial from $130.00 to $122.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. dropped their price target on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $122.15.

Insider Buying and Selling at Prudential Financial

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 27,072 shares in the company, valued at approximately $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of Prudential Financial stock in a transaction dated Tuesday, March 25th. The shares were purchased at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the transaction, the insider now directly owns 139,987 shares in the company, valued at approximately $3,992,429.24. This represents a 60.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.25% of the stock is owned by corporate insiders.

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.