Aviance Capital Partners LLC Sells 646 Shares of Prudential Financial, Inc. (NYSE:PRU)

Aviance Capital Partners LLC decreased its position in Prudential Financial, Inc. (NYSE:PRU) by 14.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,736 shares of the financial services provider’s stock after selling 646 shares during the quarter. Aviance Capital Partners LLC’s holdings in Prudential Financial were worth $387,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Cambridge Trust Co. increased its holdings in Prudential Financial by 77.2% during the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 105 shares during the period. Bruce G. Allen Investments LLC purchased a new stake in Prudential Financial in the fourth quarter worth $26,000. Headinvest LLC bought a new position in Prudential Financial in the 3rd quarter worth $27,000. Arlington Trust Co LLC boosted its stake in shares of Prudential Financial by 151.6% during the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 185 shares in the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE purchased a new stake in Prudential Financial in the third quarter worth about $39,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Timothy L. Schmidt sold 7,912 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total transaction of $855,524.56. Following the completion of the sale, the senior vice president now owns 14,754 shares in the company, valued at approximately $1,595,350.02. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Timothy L. Schmidt sold 7,912 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann M. Kappler sold 7,222 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the sale, the executive vice president now directly owns 24,381 shares in the company, valued at approximately $2,642,656.59. The disclosure for this sale can be found here. Insiders sold a total of 29,255 shares of company stock worth $3,215,664 in the last 90 days. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Piper Sandler decreased their target price on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research report on Monday. Wells Fargo & Company raised their price objective on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research report on Thursday, April 11th. Evercore ISI increased their price target on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research note on Thursday, April 25th. TheStreet raised shares of Prudential Financial from a “c+” rating to an “a-” rating in a research note on Tuesday, February 6th. Finally, Morgan Stanley raised their target price on shares of Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Prudential Financial has an average rating of “Hold” and a consensus target price of $111.08.

Prudential Financial Trading Up 0.8 %

PRU stock traded up $0.97 during trading on Tuesday, hitting $116.23. The company had a trading volume of 1,407,628 shares, compared to its average volume of 1,526,303. The company has a 50 day simple moving average of $112.48 and a 200-day simple moving average of $104.78. 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, Inc. has a 52-week low of $77.87 and a 52-week high of $118.69. The firm has a market capitalization of $41.73 billion, a P/E ratio of 19.77, a PEG ratio of 0.83 and a beta of 1.35.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The firm had revenue of $15.01 billion for the quarter, compared to the consensus estimate of $14.50 billion. During the same period last year, the firm earned $2.66 earnings per share. The company’s revenue for the quarter was up 69.9% on a year-over-year basis. As a group, research analysts forecast that Prudential Financial, Inc. will post 13.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company 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 $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.47%. Prudential Financial’s payout ratio is currently 88.44%.

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.