Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Xcel Wealth Management LLC

Xcel Wealth Management LLC decreased its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 27.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,271 shares of the financial services provider's stock after selling 7,458 shares during the period. Xcel Wealth Management LLC's holdings in Prudential Financial were worth $2,152,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of PRU. Brighton Jones LLC lifted its position in shares of Prudential Financial by 3.7% during the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider's stock worth $436,000 after purchasing an additional 133 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Prudential Financial by 52.7% during the fourth quarter. Fisher Asset Management LLC now owns 3,619 shares of the financial services provider's stock worth $429,000 after purchasing an additional 1,249 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Prudential Financial by 22.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,239 shares of the financial services provider's stock worth $383,000 after purchasing an additional 599 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in shares of Prudential Financial by 29.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,117 shares of the financial services provider's stock worth $132,000 after purchasing an additional 254 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of Prudential Financial by 32.0% during the fourth quarter. Jones Financial Companies Lllp now owns 21,243 shares of the financial services provider's stock worth $2,518,000 after purchasing an additional 5,144 shares during the last quarter. Institutional investors own 56.83% of the company's stock.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was acquired 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 directly owned 3,168,461 shares of the company's stock, valued at $90,744,723.04. This represents a 112.29% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.25% of the company's stock.

Prudential Financial Stock Performance

PRU traded up $0.94 during trading hours on Thursday, hitting $109.60. The company's stock had a trading volume of 732,327 shares, compared to its average volume of 1,658,006. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. 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 $38.80 billion, a PE ratio of 17.37, a PEG ratio of 1.04 and a beta of 1.07. The company has a 50-day simple moving average of $104.62 and a 200 day simple moving average of $109.44.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, beating the consensus estimate of $3.18 by $0.11. Prudential Financial had a return on equity of 15.84% and a net margin of 3.84%. The firm had revenue of $13.61 billion for the quarter, compared to analysts' expectations of $14.76 billion. During the same period last year, the firm earned $3.12 EPS. The firm's revenue was down 38.2% compared to the same quarter last year. As a group, sell-side analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend was Tuesday, May 20th. Prudential Financial's dividend payout ratio (DPR) is presently 85.58%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PRU shares. Wall Street Zen raised shares of Prudential Financial from a "sell" rating to a "hold" rating in a research report on Monday, June 16th. Piper Sandler cut their target price on shares of Prudential Financial from $110.00 to $109.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. 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 report on Wednesday, May 7th. Morgan Stanley boosted their price objective on Prudential Financial from $108.00 to $117.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, UBS Group dropped their target price on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th. One investment 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $120.15.

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.