VCI Wealth Management LLC Lowers Position in Prudential Financial, Inc. (NYSE:PRU)

VCI Wealth Management LLC lessened its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 20.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,859 shares of the financial services provider's stock after selling 3,953 shares during the period. VCI Wealth Management LLC's holdings in Prudential Financial were worth $1,771,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. North Capital Inc. acquired a new position in Prudential Financial during the first quarter worth $28,000. Opal Wealth Advisors LLC bought a new stake in Prudential Financial in the 1st quarter valued at $30,000. Lee Danner & Bass Inc. bought a new stake in Prudential Financial in the 4th quarter valued at $35,000. Park Place Capital Corp boosted its stake in Prudential Financial by 1,841.2% in the 1st quarter. Park Place Capital Corp now owns 330 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 313 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Prudential Financial during the 4th quarter valued at $38,000. Institutional investors own 56.83% of the company's stock.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was bought at an average price of $28.64 per share, with a total value of $48,000,009.92. Following the completion of the purchase, the insider owned 3,168,461 shares of the company's stock, valued at approximately $90,744,723.04. This represents a 112.29% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PRU shares. Morgan Stanley reduced their target price on Prudential Financial from $117.00 to $113.00 and set an "equal weight" rating on the stock in a report on Monday, July 14th. Wall Street Zen lowered Prudential Financial from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. Barclays lifted their price target on Prudential Financial from $119.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. lifted their price target on Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Prudential Financial presently has a consensus rating of "Hold" and a consensus price target of $121.75.

Prudential Financial Stock Performance

Shares of PRU stock traded down $0.99 on Thursday, hitting $104.36. 1,256,669 shares of the stock were exchanged, compared to its average volume of 1,772,721. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $36.94 billion, a PE ratio of 16.54, a P/E/G ratio of 1.03 and a beta of 1.07. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The firm's 50 day moving average is $105.13 and its two-hundred day moving average is $108.09.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.18 by $0.11. The business had revenue of $13.61 billion for the quarter, compared to analysts' expectations of $14.76 billion. Prudential Financial had a return on equity of 15.84% and a net margin of 3.84%. The firm's quarterly revenue was down 38.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.12 EPS. 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 disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, May 20th were issued 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 5.17%. Prudential Financial's dividend payout ratio (DPR) is 85.58%.

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.