Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Cerity Partners LLC

Cerity Partners LLC cut its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 9.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,969 shares of the financial services provider's stock after selling 13,206 shares during the quarter. Cerity Partners LLC's holdings in Prudential Financial were worth $13,733,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Altman Advisors Inc. raised its stake in shares of Prudential Financial by 0.6% during the fourth quarter. Altman Advisors Inc. now owns 16,087 shares of the financial services provider's stock valued at $1,907,000 after acquiring an additional 94 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings in Prudential Financial by 7.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,506 shares of the financial services provider's stock worth $179,000 after purchasing an additional 98 shares during the period. NorthCrest Asset Manangement LLC raised its position in Prudential Financial by 3.8% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 2,738 shares of the financial services provider's stock valued at $306,000 after purchasing an additional 101 shares in the last quarter. HighPoint Advisor Group LLC lifted its holdings in shares of Prudential Financial by 0.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 12,927 shares of the financial services provider's stock worth $1,443,000 after buying an additional 103 shares during the period. Finally, Providence Capital Advisors LLC lifted its stake in Prudential Financial by 0.4% in the fourth quarter. Providence Capital Advisors LLC now owns 27,782 shares of the financial services provider's stock worth $3,293,000 after acquiring an additional 105 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

PRU traded down $0.40 during trading on Monday, reaching $105.54. 1,412,477 shares of the company's stock were exchanged, compared to its average volume of 1,791,314. The company's fifty day simple moving average is $105.23 and its 200-day simple moving average is $108.79. The stock has a market capitalization of $37.36 billion, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 1.01 and a beta of 1.07. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.17 and a quick ratio of 0.17. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.11. The company had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $14.76 billion. Prudential Financial had a return on equity of 15.84% and a net margin of 3.84%. The firm's revenue for the quarter was down 38.2% compared to the same quarter last year. During the same period last year, the firm earned $3.12 EPS. As a group, research analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th were given a $1.35 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $5.40 annualized dividend and a yield of 5.12%. Prudential Financial's dividend payout ratio is presently 85.58%.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was purchased at an average cost of $28.64 per share, for a total transaction of $48,000,009.92. Following the purchase, the insider directly owned 3,168,461 shares in the company, valued at approximately $90,744,723.04. This trade represents a 112.29% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PRU shares. Keefe, Bruyette & Woods dropped their price objective on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 7th. Morgan Stanley cut their target price on Prudential Financial from $117.00 to $113.00 and set an "equal weight" rating on the stock in a research note on Monday. Piper Sandler decreased their price target on shares of Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company boosted their price objective on shares of Prudential Financial from $113.00 to $116.00 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, Barclays raised their target price on shares of Prudential Financial from $109.00 to $119.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $121.85.

Prudential Financial Company 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.