Deutsche Bank AG Sells 194,460 Shares of Prudential Financial, Inc. (NYSE:PRU)

Deutsche Bank AG reduced its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 13.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,255,441 shares of the financial services provider's stock after selling 194,460 shares during the quarter. Deutsche Bank AG owned about 0.35% of Prudential Financial worth $148,807,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Grove Bank & Trust increased its position in shares of Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock worth $26,000 after acquiring an additional 87 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Prudential Financial during the fourth quarter worth about $29,000. CGC Financial Services LLC increased its position in shares of Prudential Financial by 82.1% during the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock worth $33,000 after acquiring an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new stake in shares of Prudential Financial during the fourth quarter worth about $33,000. Finally, Hopwood Financial Services Inc. bought a new stake in shares of Prudential Financial during the fourth quarter worth about $34,000. Institutional investors own 56.83% of the company's stock.

Prudential Financial Stock Performance

NYSE PRU traded down $1.24 during trading on Wednesday, hitting $106.16. 1,757,271 shares of the company's stock traded hands, compared to its average volume of 1,619,354. The stock has a market capitalization of $37.58 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 0.98 and a beta of 1.07. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The business has a 50 day moving average of $104.77 and a 200-day moving average of $114.37.

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

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date of this dividend is Tuesday, May 20th. Prudential Financial's payout ratio is 85.58%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Barclays reduced their target price on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. BMO Capital Markets assumed coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 target price for the company. JPMorgan Chase & Co. reduced 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. Keefe, Bruyette & Woods reduced 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. Finally, Wells Fargo & Company boosted their price target on shares of Prudential Financial from $108.00 to $113.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $121.92.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the stock in a transaction dated Tuesday, March 25th. The shares were purchased at an average cost of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the acquisition, the insider now owns 139,987 shares in the company, valued at $3,992,429.24. This represents a 60.18% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the sale, the executive vice president now directly owns 27,072 shares in the company, valued at approximately $2,869,090.56. The trade was a 18.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.