Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 6.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,717 shares of the financial services provider’s stock after selling 2,001 shares during the period. Valley Wealth Managers Inc.’s holdings in Prudential Financial were worth $3,404,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Glenmede Trust Co. NA raised its stake in shares of Prudential Financial by 7.4% in the third quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock valued at $2,176,000 after acquiring an additional 1,234 shares in the last quarter. Avanza Fonder AB acquired a new stake in shares of Prudential Financial in the fourth quarter valued at $3,423,000. Gateway Investment Advisers LLC raised its stake in shares of Prudential Financial by 56.1% in the fourth quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock valued at $2,607,000 after acquiring an additional 7,907 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Prudential Financial by 3.9% in the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock valued at $50,830,000 after acquiring an additional 15,695 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Prudential Financial by 2.3% in the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock valued at $9,597,000 after buying an additional 1,765 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Price Performance

Shares of PRU opened at $111.54 on Tuesday. Prudential Financial, Inc. has a fifty-two week low of $104.44 and a fifty-two week high of $130.55. The company has a market capitalization of $39.71 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 1.00 and a beta of 1.31. The firm has a 50-day simple moving average of $117.87 and a 200-day simple moving average of $119.78. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.14 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. On average, equities research analysts anticipate that Prudential Financial, Inc. will post 14.38 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be given a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a yield of 4.84%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio (DPR) is presently 69.61%.

Analyst Upgrades and Downgrades

PRU has been the topic of several recent analyst reports. Keefe, Bruyette & Woods dropped their target price on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. Jefferies Financial Group increased their target price on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. BMO Capital Markets initiated coverage on Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price on the stock. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and increased their target price for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Finally, Barclays increased their target price on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $125.46.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of Prudential Financial stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the transaction, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is owned by insiders.

About Prudential Financial

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.