Envestnet Portfolio Solutions Inc. Sells 4,885 Shares of Prudential Financial, Inc. (NYSE:PRU)

Envestnet Portfolio Solutions Inc. trimmed its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 32.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,976 shares of the financial services provider's stock after selling 4,885 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Prudential Financial were worth $1,114,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new position in Prudential Financial during the first quarter worth about $30,000. Hopwood Financial Services Inc. purchased a new stake in Prudential Financial in the fourth quarter valued at approximately $34,000. Lee Danner & Bass Inc. purchased a new position in Prudential Financial in the 4th quarter worth approximately $35,000. TCTC Holdings LLC bought a new position in shares of Prudential Financial in the 4th quarter worth $37,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Prudential Financial during the 4th quarter worth $38,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Stock Down 0.6%

Shares of NYSE:PRU traded down $0.67 during trading on Wednesday, reaching $105.63. 1,311,781 shares of the stock traded hands, compared to its average volume of 1,648,790. The stock has a market cap of $37.39 billion, a P/E ratio of 16.74, a price-to-earnings-growth ratio of 1.01 and a beta of 1.07. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a 50-day moving average of $103.65 and a two-hundred day moving average of $109.92.

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 (EPS) for the quarter, beating analysts' consensus estimates of $3.18 by $0.11. The firm 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 company's quarterly revenue was down 38.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.12 earnings per share. As a group, sell-side analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th were paid a dividend of $1.35 per share. The ex-dividend date was Tuesday, May 20th. This represents a $5.40 dividend on an annualized basis and a yield of 5.11%. Prudential Financial's dividend payout ratio is presently 85.58%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the firm's stock in a transaction on Monday, June 16th. The shares were acquired at an average cost of $28.64 per share, for a total transaction of $48,000,009.92. Following the completion of the transaction, the insider now owns 3,168,461 shares of the company's stock, valued at approximately $90,744,723.04. The trade was a 112.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. UBS Group lowered their price target on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th. Keefe, Bruyette & Woods decreased their price objective on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a report on Wednesday, May 7th. Morgan Stanley raised their price target on Prudential Financial from $108.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Barclays cut their target price on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $120.15.

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.