Prudential Financial, Inc. $PRU Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its stake in Prudential by 9.3%, selling 82,458 shares and ending the quarter with 808,786 shares worth about $91.3 million.
• Prudential reported Q4 EPS of $3.30, missing the $3.37 consensus by $0.07 while revenue of $14.52 billion slightly topped estimates, and analysts project roughly 14.36 EPS for the year.
• The company raised its quarterly dividend to $1.40 (a 5.7% yield), and insiders — including Insurance Co. of America Prudential — purchased about 1.41 million shares in recent transactions.

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 9.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 808,786 shares of the financial services provider's stock after selling 82,458 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Prudential Financial worth $91,296,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PRU. Lodestone Wealth Management LLC acquired a new position in Prudential Financial during the fourth quarter worth $28,000. Wealth Watch Advisors INC acquired a new position in shares of Prudential Financial in the 3rd quarter valued at $30,000. Chilton Capital Management LLC lifted its stake in shares of Prudential Financial by 146.5% in the 3rd quarter. Chilton Capital Management LLC now owns 350 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 208 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Prudential Financial in the 2nd quarter valued at $36,000. Finally, Capital A Wealth Management LLC lifted its stake in shares of Prudential Financial by 4,600.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 368 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Price Performance

PRU opened at $98.40 on Tuesday. The stock's 50-day moving average price is $98.50 and its 200 day moving average price is $105.07. Prudential Financial, Inc. has a 12-month low of $91.89 and a 12-month high of $119.76. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The firm has a market cap of $34.23 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 1.20 and a beta of 0.95.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.37 by ($0.07). Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.The firm had revenue of $14.52 billion for the quarter, compared to analyst estimates of $14.48 billion. During the same period in the previous year, the company posted $2.96 EPS. As a group, sell-side analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Tuesday, February 17th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Tuesday, February 17th. This is a positive change from Prudential Financial's previous quarterly dividend of $1.35. Prudential Financial's dividend payout ratio is currently 56.00%.

Insider Transactions at Prudential Financial

In other news, Director Joseph J. Wolk bought 400 shares of the firm's stock in a transaction that occurred on Wednesday, February 11th. The shares were purchased at an average price of $105.32 per share, with a total value of $42,128.00. Following the purchase, the director owned 400 shares in the company, valued at approximately $42,128. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 1,406,739 shares of the business's stock in a transaction on Friday, January 23rd. The shares were bought at an average price of $24.87 per share, for a total transaction of $34,985,598.93. Following the acquisition, the insider owned 7,709,624 shares in the company, valued at $191,738,348.88. This trade represents a 22.32% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 1,408,389 shares of company stock worth $35,154,439 in the last 90 days. Insiders own 0.05% of the company's stock.

Analyst Upgrades and Downgrades

PRU has been the topic of several recent analyst reports. Wall Street Zen lowered Prudential Financial from a "buy" rating to a "hold" rating in a research note on Saturday, January 10th. Keefe, Bruyette & Woods decreased their price target on Prudential Financial from $106.00 to $104.00 and set a "market perform" rating on the stock in a research note on Friday. Mizuho decreased their price target on Prudential Financial from $113.00 to $101.00 and set a "neutral" rating on the stock in a research note on Monday. Piper Sandler raised Prudential Financial to a "hold" rating in a research note on Thursday, April 2nd. Finally, Morgan Stanley decreased their price target on Prudential Financial from $120.00 to $111.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 3rd. Nine investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Prudential Financial presently has a consensus rating of "Reduce" and an average price target of $108.44.

Prudential Financial Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential's long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential's core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.

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