Prudential Financial, Inc. (NYSE:PRU) Shares Sold by CVA Family Office LLC

CVA Family Office LLC lessened its stake in Prudential Financial, Inc. (NYSE:PRU) by 12.2% in the 1st quarter, Holdings Channel reports. The firm owned 1,171 shares of the financial services provider’s stock after selling 162 shares during the period. CVA Family Office LLC’s holdings in Prudential Financial were worth $131,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PRU. Norges Bank acquired a new stake in Prudential Financial in the 4th quarter valued at approximately $115,878,000. Northern Trust Corp grew its stake in shares of Prudential Financial by 23.7% in the fourth quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider’s stock worth $555,513,000 after acquiring an additional 897,916 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Prudential Financial by 11,280.3% in the first quarter. GAMMA Investing LLC now owns 867,865 shares of the financial services provider’s stock worth $96,923,000 after acquiring an additional 860,239 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Prudential Financial in the fourth quarter worth $76,303,000. Finally, Marshall Wace LLP grew its stake in shares of Prudential Financial by 322.9% in the fourth quarter. Marshall Wace LLP now owns 711,102 shares of the financial services provider’s stock worth $84,287,000 after acquiring an additional 542,964 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU opened at $102.88 on Friday. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The stock has a market cap of $36.42 billion, a PE ratio of 13.77, a price-to-earnings-growth 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. The firm has a fifty day moving average price of $103.03 and a 200 day moving average price of $111.04.

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

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, May 20th were given a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $5.40 dividend on an annualized basis and a yield of 5.25%. Prudential Financial’s dividend payout ratio (DPR) is presently 85.58%.

Wall Street Analysts Forecast Growth

PRU has been the subject of several research reports. Morgan Stanley boosted their price target on shares of Prudential Financial from $108.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Wells Fargo & Company boosted their price target on shares of Prudential Financial from $108.00 to $113.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. 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. Wall Street Zen downgraded shares of Prudential Financial from a “hold” rating to a “sell” rating in a research note on Sunday, June 8th. Finally, Barclays decreased their price objective on shares of Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $120.15.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were bought at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the purchase, 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 purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is owned by corporate insiders.

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.