First United Bank & Trust Has $179,000 Holdings in Prudential Financial, Inc. (NYSE:PRU)

First United Bank & Trust cut its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 63.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,599 shares of the financial services provider's stock after selling 2,818 shares during the period. First United Bank & Trust's holdings in Prudential Financial were worth $179,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PRU. Norges Bank acquired a new stake in Prudential Financial during the fourth quarter valued at approximately $115,878,000. Northern Trust Corp lifted its holdings in Prudential Financial by 23.7% during the 4th quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock worth $555,513,000 after buying an additional 897,916 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Prudential Financial by 11,280.3% during the 1st quarter. GAMMA Investing LLC now owns 867,865 shares of the financial services provider's stock worth $96,923,000 after buying an additional 860,239 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Prudential Financial during the 4th quarter worth $76,303,000. Finally, Marshall Wace LLP lifted its holdings in Prudential Financial by 322.9% during the 4th quarter. Marshall Wace LLP now owns 711,102 shares of the financial services provider's stock worth $84,287,000 after buying an additional 542,964 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Stock Down 1.9%

Shares of NYSE PRU traded down $2.02 during mid-day trading on Friday, hitting $102.88. The company had a trading volume of 1,358,187 shares, compared to its average volume of 1,646,374. The company has a market capitalization of $36.42 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. The firm has a 50-day simple moving average of $103.03 and a two-hundred day simple moving average of $111.04. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.11. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. The business had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $14.76 billion. During the same period last year, the business posted $3.12 EPS. Prudential Financial's revenue was down 38.2% on a year-over-year basis. On average, equities analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, May 20th were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $5.40 annualized dividend and a yield of 5.25%. Prudential Financial's dividend payout ratio (DPR) is currently 85.58%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods cut their price target on 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. Wells Fargo & Company increased their price target on Prudential Financial from $108.00 to $113.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Piper Sandler cut their price target on Prudential Financial from $110.00 to $109.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Wall Street Zen downgraded Prudential Financial from a "hold" rating to a "sell" rating in a research note on Sunday, June 8th. Finally, UBS Group lowered their price objective on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research report on Tuesday, May 27th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $120.15.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the business's stock in a transaction on Tuesday, March 25th. The stock was purchased at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the transaction, the insider now directly owns 139,987 shares of the company's stock, valued at approximately $3,992,429.24. The trade was a 60.18% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is currently owned by company insiders.

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.