Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Courier Capital LLC

Courier Capital LLC decreased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 3.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 25,214 shares of the financial services provider’s stock after selling 1,016 shares during the quarter. Courier Capital LLC’s holdings in Prudential Financial were worth $2,816,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were bought at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the acquisition, the insider now owns 139,987 shares in the company, valued at $3,992,429.24. This trade represents a 60.18% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $2,869,090.56. The trade was a 18.14% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Prudential Financial Stock Up 1.8%

Prudential Financial stock opened at $105.63 on Monday. The firm has a market cap of $37.39 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 0.98 and a beta of 1.07. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The firm has a fifty day moving average price of $102.63 and a two-hundred day moving average price of $111.75.

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

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date of this dividend is Tuesday, May 20th. Prudential Financial’s dividend payout ratio is 85.58%.

Analyst Upgrades and Downgrades

PRU has been the topic of several research analyst reports. Wall Street Zen cut shares of Prudential Financial from a “hold” rating to a “sell” rating in a research report on Sunday. Barclays lowered their price target on shares of Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating on the stock in a report on Friday, April 11th. Morgan Stanley boosted their price target on shares of Prudential Financial from $108.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Keefe, Bruyette & Woods lowered their price target on shares of Prudential Financial from $120.00 to $117.00 and set a “market perform” rating on the stock in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and an average price target 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.