Benjamin Edwards Inc. Sells 155 Shares of Prudential Financial, Inc. (NYSE:PRU)

Benjamin Edwards Inc. reduced its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,876 shares of the financial services provider’s stock after selling 155 shares during the period. Benjamin Edwards Inc.’s holdings in Prudential Financial were worth $402,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Cambridge Trust Co. boosted its holdings in Prudential Financial by 77.2% during the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 105 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in Prudential Financial in the 4th quarter valued at about $26,000. Headinvest LLC bought a new position in shares of Prudential Financial during the 3rd quarter worth approximately $27,000. Arlington Trust Co LLC boosted its stake in shares of Prudential Financial by 151.6% in the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock worth $32,000 after buying an additional 185 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE bought a new position in shares of Prudential Financial in the third quarter valued at approximately $39,000. 56.83% of the stock is owned by institutional investors.

Prudential Financial Price Performance

PRU traded up $0.97 during trading on Friday, reaching $112.26. 1,028,916 shares of the company were exchanged, compared to its average volume of 1,460,168. Prudential Financial, Inc. has a 12-month low of $77.22 and a 12-month high of $118.69. The company’s 50-day moving average is $112.06 and its two-hundred day moving average is $104.21. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. The company has a market cap of $40.30 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 0.83 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 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). The firm had revenue of $15.01 billion during the quarter, compared to the consensus estimate of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. Prudential Financial’s revenue was up 69.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.66 earnings per share. Research analysts forecast that Prudential Financial, Inc. will post 13.34 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were issued a $1.30 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $5.20 annualized dividend and a dividend yield of 4.63%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. Prudential Financial’s dividend payout ratio is presently 88.44%.

Insider Buying and Selling

In other Prudential Financial news, SVP Robert Axel sold 6,436 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the transaction, the senior vice president now directly owns 7,901 shares in the company, valued at approximately $883,805.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Prudential Financial news, SVP Timothy L. Schmidt sold 7,912 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $108.13, for a total transaction of $855,524.56. Following the completion of the sale, the senior vice president now directly owns 14,754 shares in the company, valued at $1,595,350.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Robert Axel sold 6,436 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total value of $719,930.96. Following the completion of the sale, the senior vice president now directly owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,255 shares of company stock worth $3,215,664. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PRU. TheStreet raised Prudential Financial from a “c+” rating to an “a-” rating in a research report on Tuesday, February 6th. Wells Fargo & Company boosted their price target 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. Keefe, Bruyette & Woods raised their price objective on shares of Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. UBS Group boosted their target price on shares of Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Finally, Piper Sandler lifted their price target on shares of Prudential Financial from $114.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to MarketBeat, Prudential Financial currently has an average rating of “Hold” and a consensus target price of $111.42.

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.