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

Bison Wealth LLC cut its holdings in Prudential Financial, Inc. (NYSE:PRU) by 4.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 11,296 shares of the financial services provider’s stock after selling 481 shares during the period. Bison Wealth LLC’s holdings in Prudential Financial were worth $1,171,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Sanctuary Wealth Management L.L.C. bought a new position in Prudential Financial during the fourth quarter valued at $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Prudential Financial in the fourth quarter worth $26,000. Headinvest LLC purchased a new stake in shares of Prudential Financial in the third quarter worth $27,000. Pacific Center for Financial Services purchased a new stake in shares of Prudential Financial in the first quarter worth $27,000. Finally, Coppell Advisory Solutions LLC purchased a new stake in Prudential Financial during the second quarter valued at about $28,000. 56.83% of the stock is owned by institutional investors.

Prudential Financial Stock Down 1.2 %

PRU opened at $108.36 on Tuesday. The firm has a 50-day simple moving average of $111.15 and a two-hundred day simple moving average of $102.78. Prudential Financial, Inc. has a 52 week low of $77.22 and a 52 week high of $118.69. The company has a market capitalization of $38.90 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 0.74 and a beta of 1.37. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.09). The company had revenue of $13.02 billion for the quarter, compared to the consensus estimate of $12.99 billion. Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the company earned $2.42 EPS. Analysts forecast that Prudential Financial, Inc. will post 13.4 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.80%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Friday, February 16th. Prudential Financial’s dividend payout ratio is currently 77.73%.

Insider Activity

In other news, EVP Ann M. Kappler sold 7,222 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Andrew F. Sullivan sold 7,685 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total value of $857,415.45. Following the sale, the executive vice president now directly owns 13,691 shares of the company’s stock, valued at approximately $1,527,504.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the completion of the sale, the executive vice president now directly owns 24,381 shares in the company, valued at $2,642,656.59. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,255 shares of company stock worth $3,215,664. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PRU. UBS Group raised their price target on Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Evercore ISI raised their target price on Prudential Financial from $104.00 to $115.00 and gave the stock an “underperform” rating in a research note on Thursday, April 11th. Morgan Stanley raised their target price on Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Monday. Wells Fargo & Company lifted 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. Finally, Raymond James cut Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $111.33.

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.