Webster Bank N. A. Sells 1,238 Shares of Prudential Financial, Inc. (NYSE:PRU)

Webster Bank N. A. decreased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 8.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,575 shares of the financial services provider’s stock after selling 1,238 shares during the quarter. Webster Bank N. A.’s holdings in Prudential Financial were worth $1,594,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Choreo LLC lifted its stake in Prudential Financial by 163.5% in the fourth quarter. Choreo LLC now owns 6,940 shares of the financial services provider’s stock valued at $720,000 after buying an additional 4,306 shares in the last quarter. Greenwood Capital Associates LLC bought a new position in Prudential Financial in the fourth quarter valued at approximately $1,087,000. Crestline Management LP lifted its stake in Prudential Financial by 50.0% in the fourth quarter. Crestline Management LP now owns 60,000 shares of the financial services provider’s stock valued at $6,223,000 after buying an additional 20,000 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Prudential Financial in the fourth quarter valued at approximately $761,000. Finally, Tyche Wealth Partners LLC acquired a new stake in shares of Prudential Financial in the fourth quarter valued at approximately $815,000. Institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was acquired at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the transaction, the insider now owns 3,883,390 shares of the company’s stock, valued at approximately $107,065,062.30. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total transaction of $604,933.62. Following the transaction, the senior vice president now directly owns 12,236 shares in the company, valued at approximately $1,426,472.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the acquisition, the insider now owns 3,883,390 shares in the company, valued at $107,065,062.30. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

Prudential Financial Trading Down 0.1 %

Shares of Prudential Financial stock traded down $0.14 on Friday, hitting $117.19. The stock had a trading volume of 2,257,039 shares, compared to its average volume of 1,343,310. The stock has a 50 day moving average of $116.38 and a 200 day moving average of $110.85. Prudential Financial, Inc. has a twelve month low of $86.69 and a twelve month high of $121.39. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market capitalization of $42.07 billion, a P/E ratio of 19.93, a PEG ratio of 0.88 and a beta of 1.35.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The firm had revenue of $15.01 billion during the quarter, compared to analyst estimates of $14.50 billion. During the same period in the prior year, the company earned $2.66 EPS. The business’s quarterly revenue was up 69.9% compared to the same quarter last year. Sell-side analysts expect that Prudential Financial, Inc. will post 13.41 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date was Monday, May 20th. Prudential Financial’s dividend payout ratio is presently 88.44%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Piper Sandler lowered their price objective on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Evercore ISI lifted their price objective on shares of Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a report on Thursday, April 25th. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a report on Thursday, April 11th. Finally, Jefferies Financial Group lowered their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $115.08.

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.