Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC trimmed its position in Prudential Financial, Inc. (NYSE:PRU) by 5.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,350 shares of the financial services provider’s stock after selling 240 shares during the period. Plimoth Trust Co. LLC’s holdings in Prudential Financial were worth $511,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PRU. Vanguard Group Inc. raised its holdings in Prudential Financial by 13.9% in the 4th quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock valued at $4,386,192,000 after acquiring an additional 5,154,865 shares during the last quarter. International Assets Investment Management LLC lifted its position in Prudential Financial by 9,281.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock worth $141,962,000 after buying an additional 1,354,248 shares during the period. Norges Bank acquired a new stake in Prudential Financial in the 4th quarter worth about $113,478,000. Dimensional Fund Advisors LP increased its stake in shares of Prudential Financial by 10.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock valued at $414,926,000 after acquiring an additional 388,363 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Prudential Financial during the 3rd quarter valued at about $34,251,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of Prudential Financial stock in a transaction that occurred on Thursday, June 20th. The stock was acquired at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the transaction, the insider now owns 3,883,390 shares in the company, valued at $107,065,062.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was bought at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the purchase, the insider now directly owns 3,883,390 shares of the company’s stock, valued at approximately $107,065,062.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert Falzon sold 130,092 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $118.57, for a total transaction 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 own 0.34% of the company’s stock.

Prudential Financial Trading Up 0.9 %

NYSE PRU opened at $118.55 on Wednesday. The company has a market capitalization of $42.56 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 0.88 and a beta of 1.34. Prudential Financial, Inc. has a 12 month low of $87.57 and a 12 month high of $121.39. The company’s fifty day moving average price is $116.50 and its two-hundred day moving average price is $111.05. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The business had revenue of $15.01 billion during the quarter, compared to analyst estimates of $14.50 billion. During the same period last year, the firm posted $2.66 earnings per share. The company’s quarterly revenue was up 69.9% on a year-over-year basis. As a group, research analysts predict that Prudential Financial, Inc. will post 13.41 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st were issued a $1.30 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.39%. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday. Piper Sandler lowered their price target on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Evercore ISI raised their price objective on Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a report on Thursday, April 25th. Jefferies Financial Group dropped their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Finally, Morgan Stanley lifted their price target on shares of Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Prudential Financial has an average rating of “Hold” and a consensus price target of $115.92.

About Prudential Financial

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.