Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Callan Family Office LLC

Key Points

• Callan Family Office LLC reduced its stake in Prudential Financial by 36.1% during the first quarter, now holding 4,335 shares valued at approximately $484,000.
• Prudential Financial reported earnings of $3.58 EPS, exceeding analysts' expectations, with revenue of $13.50 billion, down 2.5% year-over-year.
• The company announced a quarterly dividend of $1.35, representing a 5.0% yield with a payout ratio of 119.73%.

Callan Family Office LLC trimmed its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 36.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,335 shares of the financial services provider's stock after selling 2,446 shares during the quarter. Callan Family Office LLC's holdings in Prudential Financial were worth $484,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its stake in shares of Prudential Financial by 90.2% in the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 111 shares during the last quarter. Cheviot Value Management LLC bought a new stake in shares of Prudential Financial during the 1st quarter valued at $26,000. North Capital Inc. acquired a new position in shares of Prudential Financial in the 1st quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Prudential Financial in the 1st quarter valued at $30,000. Finally, Clearstead Trust LLC boosted its stake in Prudential Financial by 350.8% in the 1st quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider's stock worth $30,000 after purchasing an additional 207 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

Shares of PRU stock traded down $0.84 during trading hours on Friday, reaching $105.98. The company had a trading volume of 1,188,014 shares, compared to its average volume of 1,802,432. The business has a fifty day moving average price of $104.96 and a 200-day moving average price of $106.27. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The firm has a market cap of $37.30 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 0.94 and a beta of 1.07. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share for the quarter, topping analysts' consensus estimates of $3.22 by $0.36. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The firm had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.47 billion. During the same quarter in the prior year, the business earned $3.39 earnings per share. Prudential Financial's revenue for the quarter was down 2.5% on a year-over-year basis. Sell-side analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $5.40 annualized dividend and a dividend yield of 5.1%. Prudential Financial's dividend payout ratio is currently 119.73%.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of Prudential Financial stock in a transaction dated Monday, June 16th. The shares were acquired at an average cost of $28.64 per share, with a total value of $48,000,009.92. Following the completion of the transaction, the insider owned 3,168,461 shares in the company, valued at $90,744,723.04. The trade was a 112.29% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PRU shares. Wall Street Zen raised shares of Prudential Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Wells Fargo & Company cut their target price on shares of Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 16th. UBS Group dropped their price target on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. Barclays raised their price target on shares of Prudential Financial from $119.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Prudential Financial currently has an average rating of "Hold" and a consensus price target of $121.75.

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.