Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,132,152 shares of the financial services provider's stock after selling 38,784 shares during the quarter. Wells Fargo & Company MN owned approximately 0.31% of Prudential Financial worth $117,416,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. First Financial Corp IN lifted its stake in Prudential Financial by 13.7% in the fourth quarter. First Financial Corp IN now owns 848 shares of the financial services provider's stock worth $88,000 after acquiring an additional 102 shares during the period. McIlrath & Eck LLC lifted its stake in Prudential Financial by 18.0% in the fourth quarter. McIlrath & Eck LLC now owns 670 shares of the financial services provider's stock worth $69,000 after acquiring an additional 102 shares during the period. Cambridge Trust Co. lifted its position in Prudential Financial by 77.2% during the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider's stock valued at $25,000 after buying an additional 105 shares during the period. Mechanics Financial Corp lifted its position in Prudential Financial by 6.3% during the fourth quarter. Mechanics Financial Corp now owns 1,771 shares of the financial services provider's stock valued at $184,000 after buying an additional 105 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Prudential Financial by 0.3% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 37,935 shares of the financial services provider's stock valued at $3,934,000 after buying an additional 110 shares during the period. Hedge funds and other institutional investors own 56.83% of the company's stock.

Prudential Financial Stock Performance

Shares of Prudential Financial stock traded down $1.64 during trading hours on Thursday, reaching $117.85. 1,304,724 shares of the stock traded hands, compared to its average volume of 1,504,358. The company has a 50 day moving average price of $114.55 and a 200 day moving average price of $106.92. The firm has a market capitalization of $42.31 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 0.88 and a beta of 1.35. Prudential Financial, Inc. has a one year low of $78.40 and a one year high of $121.39. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.16 by ($0.04). The firm had revenue of $15.01 billion for the quarter, compared to the consensus estimate of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The company's revenue for the quarter was up 69.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.66 earnings per share. On average, equities research analysts expect that Prudential Financial, Inc. will post 13.42 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st will be given a dividend of $1.30 per share. The ex-dividend date is Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.41%. Prudential Financial's payout ratio is currently 88.44%.

Insider Activity

In other news, SVP Timothy L. Schmidt sold 7,912 shares of Prudential Financial stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $108.13, for a total transaction of $855,524.56. Following the transaction, the senior vice president now directly owns 14,754 shares of the company's stock, valued at approximately $1,595,350.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Timothy L. Schmidt sold 7,912 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the transaction, the senior vice president now directly owns 14,754 shares of the company's stock, valued at approximately $1,595,350.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert Falzon sold 130,092 shares of the business's stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $118.57, for a total value of $15,425,008.44. Following the completion of the transaction, the executive vice president now directly owns 202,083 shares in the company, valued at $23,960,981.31. The disclosure for this sale can be found here. Insiders have sold a total of 164,536 shares of company stock valued at $19,245,606 in the last ninety days. Corporate insiders own 0.31% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Raymond James lowered Prudential Financial from a "strong-buy" rating to a "market perform" rating in a research report on Friday, February 9th. Evercore ISI raised their price target on Prudential Financial from $115.00 to $116.00 and gave the company an "underperform" rating in a report on Thursday, April 25th. Jefferies Financial Group upgraded Prudential Financial from a "hold" rating to a "buy" rating and raised their price target for the company from $121.00 to $143.00 in a report on Wednesday. TheStreet upgraded Prudential Financial from a "c+" rating to an "a-" rating in a report on Tuesday, February 6th. Finally, Piper Sandler reduced their price target on Prudential Financial from $125.00 to $121.00 and set a "neutral" rating for the company in a report on Monday, May 6th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $115.25.

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.