RFG Advisory LLC Lowers Stock Position in Prudential Financial, Inc. (NYSE:PRU)

RFG Advisory LLC lessened its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 64.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,750 shares of the financial services provider's stock after selling 6,739 shares during the quarter. RFG Advisory LLC's holdings in Prudential Financial were worth $419,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC purchased a new stake in shares of Prudential Financial during the 4th quarter worth approximately $29,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Prudential Financial during the 4th quarter worth approximately $33,000. Hopwood Financial Services Inc. purchased a new stake in shares of Prudential Financial during the 4th quarter worth approximately $34,000. Lee Danner & Bass Inc. purchased a new stake in shares of Prudential Financial during the 4th quarter worth approximately $35,000. Finally, TCTC Holdings LLC purchased a new stake in Prudential Financial in the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 56.83% of the company's stock.

Prudential Financial Trading Up 1.8%

Shares of PRU opened at $105.63 on Friday. The company has a market capitalization of $37.39 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a fifty day moving average of $102.63 and a two-hundred day moving average of $111.94. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, topping analysts' consensus estimates of $3.18 by $0.11. The business had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $14.76 billion. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The business's revenue for the quarter was down 38.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.12 EPS. As a group, analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.11%. Prudential Financial's payout ratio is 85.58%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the transaction, the executive vice president now directly owns 27,072 shares of the company's stock, valued at $2,869,090.56. This trade represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the transaction, the insider now directly owns 87,047 shares of the company's stock, valued at $2,499,989.84. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

PRU has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price 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. UBS Group reduced their target price on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 27th. Morgan Stanley upped their target price on Prudential Financial from $108.00 to $117.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Piper Sandler reduced their target price 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. Finally, Keefe, Bruyette & Woods reduced their target price 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. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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.

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