Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Cypress Advisory Group LLC

Cypress Advisory Group LLC reduced its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 24.8% 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 3,000 shares of the financial services provider’s stock after selling 992 shares during the period. Cypress Advisory Group LLC’s holdings in Prudential Financial were worth $335,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PRU. Norges Bank acquired a new position in shares of Prudential Financial during the fourth quarter worth $115,878,000. Northern Trust Corp raised its holdings in 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 valued at $555,513,000 after acquiring an additional 897,916 shares in the last quarter. GAMMA Investing LLC raised its holdings in 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 valued at $96,923,000 after acquiring an additional 860,239 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Prudential Financial in the fourth quarter valued at $76,303,000. Finally, Marshall Wace LLP raised its holdings in Prudential Financial by 322.9% in the fourth quarter. Marshall Wace LLP now owns 711,102 shares of the financial services provider’s stock valued at $84,287,000 after acquiring an additional 542,964 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Prudential Financial

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

Analyst Ratings Changes

PRU has been the topic of several recent analyst reports. UBS Group cut their price target on shares of Prudential Financial from $122.00 to $110.00 and set a “neutral” rating on the stock in a report on Tuesday, May 27th. Piper Sandler dropped their target price on shares of Prudential Financial from $110.00 to $109.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. lowered their price target on shares of Prudential Financial from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lowered 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 report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial currently has an average rating of “Hold” and an average price target of $120.15.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $102.88 on Monday. The firm has a 50-day moving average of $103.03 and a two-hundred day moving average of $110.91. The company has a market capitalization of $36.42 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 0.98 and a beta of 1.07. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month 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 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 company’s revenue was down 38.2% on a year-over-year basis. During the same quarter last year, the business posted $3.12 EPS. As a group, analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

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