Sanibel Captiva Trust Company Inc. Decreases Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Sanibel Captiva Trust Company Inc. reduced its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 9.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,817 shares of the financial services provider’s stock after selling 309 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Prudential Financial were worth $315,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PRU. Centricity Wealth Management LLC acquired a new position in shares of Prudential Financial during the fourth quarter worth $29,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Prudential Financial during the fourth quarter worth $33,000. Hopwood Financial Services Inc. acquired a new position in shares of Prudential Financial during the fourth quarter worth $34,000. Lee Danner & Bass Inc. acquired a new position in shares of Prudential Financial during the fourth quarter worth $35,000. Finally, TCTC Holdings LLC acquired a new position in shares of Prudential Financial during the fourth quarter worth $37,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. UBS Group dropped their price target on shares of Prudential Financial from $122.00 to $110.00 and set a “neutral” rating for the company in a research note on Tuesday, May 27th. Keefe, Bruyette & Woods dropped their price target on shares of Prudential Financial from $120.00 to $117.00 and set a “market perform” rating for the company in a research note on Wednesday, May 7th. Barclays dropped their price target on shares of Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. Wells Fargo & Company boosted their target price on shares of 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, Piper Sandler lowered their target price on shares of Prudential Financial from $110.00 to $109.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and a consensus price target of $120.15.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of Prudential Financial stock in a transaction that occurred on Tuesday, March 25th. The stock was acquired at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the acquisition, the insider now directly owns 139,987 shares of the company’s stock, valued at $3,992,429.24. This trade represents a 60.18% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Prudential Financial Stock Down 1.4%

Prudential Financial stock opened at $104.63 on Thursday. The company has a 50-day simple moving average of $102.69 and a 200-day simple moving average of $111.51. The firm has a market capitalization of $37.04 billion, a P/E ratio of 14.01, 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 quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $3.18 by $0.11. The business 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 company’s quarterly revenue was down 38.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.12 earnings per share. As a group, equities analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Tuesday, May 20th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 5.16%. The ex-dividend date of this dividend is Tuesday, May 20th. Prudential Financial’s payout ratio is currently 85.58%.

Prudential Financial 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.