Fiduciary Alliance LLC Sells 3,444 Shares of Prudential Financial, Inc. (NYSE:PRU)

Fiduciary Alliance LLC trimmed its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 47.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,783 shares of the financial services provider's stock after selling 3,444 shares during the quarter. Fiduciary Alliance LLC's holdings in Prudential Financial were worth $422,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Czech National Bank lifted its position in shares of Prudential Financial by 5.3% during the 1st quarter. Czech National Bank now owns 81,308 shares of the financial services provider's stock valued at $9,080,000 after acquiring an additional 4,120 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Prudential Financial by 2.5% during the 1st quarter. Rhumbline Advisers now owns 675,946 shares of the financial services provider's stock valued at $75,490,000 after acquiring an additional 16,393 shares during the last quarter. IVC Wealth Advisors LLC lifted its position in shares of Prudential Financial by 1.0% during the 1st quarter. IVC Wealth Advisors LLC now owns 12,187 shares of the financial services provider's stock valued at $1,361,000 after acquiring an additional 121 shares during the last quarter. New Hampshire Trust lifted its holdings in shares of Prudential Financial by 4.0% in the first quarter. New Hampshire Trust now owns 4,045 shares of the financial services provider's stock valued at $452,000 after purchasing an additional 154 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Prudential Financial by 11,280.3% in the first quarter. GAMMA Investing LLC now owns 867,865 shares of the financial services provider's stock valued at $96,923,000 after purchasing an additional 860,239 shares in the last quarter. 56.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PRU. Wall Street Zen upgraded Prudential Financial from a "sell" rating to a "hold" rating in a report on Saturday, May 31st. JPMorgan Chase & Co. reduced their target price on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Wells Fargo & Company increased their price objective on Prudential Financial from $108.00 to $113.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Piper Sandler cut their price objective on Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Finally, Morgan Stanley increased their price objective on Prudential Financial from $108.00 to $117.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Prudential Financial presently has an average rating of "Hold" and a consensus target price of $120.15.

Prudential Financial Stock Performance

PRU stock traded down $0.16 during mid-day trading on Thursday, reaching $103.62. 989,986 shares of the stock traded hands, compared to its average volume of 1,640,372. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The business has a 50-day moving average of $102.92 and a two-hundred day moving average of $112.24. The firm has a market capitalization of $36.68 billion, a PE ratio of 13.87, 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 (EPS) for the quarter, beating analysts' consensus estimates of $3.18 by $0.11. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. The company had revenue of $13.61 billion during the quarter, compared to analysts' expectations of $14.76 billion. During the same period in the prior year, the company earned $3.12 earnings per share. The business's quarterly revenue was down 38.2% compared to the same quarter last year. As a group, equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS 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. Shareholders of record on Tuesday, May 20th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date of this dividend is Tuesday, May 20th. Prudential Financial's dividend payout ratio (DPR) is 85.58%.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of Prudential Financial stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the purchase, the insider now owns 87,047 shares in the company, valued at approximately $2,499,989.84. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were 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 owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. The trade was a 18.14% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company's stock.

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.