Moody National Bank Trust Division Sells 449 Shares of Prudential Financial, Inc. (NYSE:PRU)

Moody National Bank Trust Division reduced its holdings in Prudential Financial, Inc. (NYSE:PRU) by 4.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,925 shares of the financial services provider’s stock after selling 449 shares during the period. Moody National Bank Trust Division’s holdings in Prudential Financial were worth $997,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Prudential Financial by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider’s stock valued at $4,960,547,000 after purchasing an additional 220,671 shares during the period. Geode Capital Management LLC increased its position in shares of Prudential Financial by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 8,856,360 shares of the financial services provider’s stock valued at $1,050,635,000 after purchasing an additional 193,681 shares during the period. Northern Trust Corp increased its position in shares of Prudential Financial by 23.7% during the fourth quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider’s stock valued at $555,513,000 after purchasing an additional 897,916 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Prudential Financial by 11.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,410,363 shares of the financial services provider’s stock valued at $404,230,000 after purchasing an additional 352,335 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Prudential Financial by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,454,278 shares of the financial services provider’s stock valued at $290,906,000 after purchasing an additional 6,938 shares during the period. 56.83% of the stock is owned by institutional investors.

Prudential Financial Price Performance

Prudential Financial stock opened at $103.84 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market cap of $36.76 billion, a P/E ratio of 13.90, a P/E/G ratio of 0.98 and a beta of 1.07. The business’s fifty day moving average is $103.48 and its two-hundred day moving average is $112.70. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.11. The company had revenue of $13.61 billion for the quarter, compared to analyst estimates of $14.76 billion. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The business’s revenue was down 38.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.12 earnings per share. Equities research analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend is Tuesday, May 20th. Prudential Financial’s dividend payout ratio is currently 85.58%.

Insiders Place Their Bets

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the transaction, the executive vice president now owns 27,072 shares of the company’s stock, valued at $2,869,090.56. This represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the purchase, the insider now directly owns 87,047 shares of the company’s stock, valued at $2,499,989.84. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on PRU shares. 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. Piper Sandler decreased their price target on Prudential Financial from $110.00 to $109.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Barclays decreased their price target on Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company boosted their price target on Prudential Financial from $108.00 to $113.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Finally, Wall Street Zen raised Prudential Financial from a “sell” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.