M&T Bank Corp Reduces Holdings in Prudential Financial, Inc. (NYSE:PRU)

M&T Bank Corp cut its position in Prudential Financial, Inc. (NYSE:PRU) by 1.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 82,547 shares of the financial services provider’s stock after selling 1,051 shares during the quarter. M&T Bank Corp’s holdings in Prudential Financial were worth $8,561,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRU. Cambridge Trust Co. increased its position in shares of Prudential Financial by 77.2% during the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 105 shares during the period. Bruce G. Allen Investments LLC purchased a new position in Prudential Financial during the 4th quarter valued at about $26,000. Headinvest LLC acquired a new position in shares of Prudential Financial in the third quarter worth $27,000. Arlington Trust Co LLC raised its position in Prudential Financial by 151.6% during the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 185 shares in the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE acquired a new stake in shares of Prudential Financial in the 3rd quarter valued at $39,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other news, EVP Ann M. Kappler sold 7,222 shares of Prudential Financial stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total value of $782,792.58. Following the completion of the transaction, the executive vice president now owns 24,381 shares in the company, valued at $2,642,656.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Prudential Financial news, SVP Robert Axel sold 6,436 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total transaction of $719,930.96. Following the completion of the transaction, the senior vice president now owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ann M. Kappler sold 7,222 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the completion of the transaction, the executive vice president now owns 24,381 shares of the company’s stock, valued at $2,642,656.59. The disclosure for this sale can be found here. Insiders sold 29,255 shares of company stock worth $3,215,664 in the last quarter. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PRU shares. TheStreet raised Prudential Financial from a “c+” rating to an “a-” rating in a research report on Tuesday, February 6th. Piper Sandler raised their price target on shares of Prudential Financial from $114.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Morgan Stanley lifted their price objective on Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Wells Fargo & Company boosted their price target on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods lifted their price objective on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $111.42.

Prudential Financial Stock Up 0.9 %

NYSE:PRU opened at $112.26 on Monday. The company has a market cap of $40.30 billion, a PE ratio of 19.09, a P/E/G ratio of 0.83 and a beta of 1.35. Prudential Financial, Inc. has a one year low of $77.22 and a one year high of $118.69. The firm’s 50 day simple moving average is $112.14 and its 200 day simple moving average is $104.45. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). The business had revenue of $15.01 billion during the quarter, compared to analyst estimates of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The firm’s revenue for the quarter was up 69.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.66 earnings per share. On average, research analysts anticipate that Prudential Financial, Inc. will post 13.36 earnings per share for the current year.

Prudential Financial Increases Dividend

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

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.