Axxcess Wealth Management LLC Reduces Holdings in Prudential Financial, Inc. (NYSE:PRU)

Axxcess Wealth Management LLC trimmed its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 31.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 8,409 shares of the financial services provider’s stock after selling 3,925 shares during the period. Axxcess Wealth Management LLC’s holdings in Prudential Financial were worth $872,000 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 the company. Morgan Stanley raised its holdings in shares of Prudential Financial by 0.9% during the third quarter. Morgan Stanley now owns 6,317,338 shares of the financial services provider’s stock valued at $599,452,000 after buying an additional 57,531 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Prudential Financial by 4.8% during the third quarter. Northern Trust Corp now owns 4,353,086 shares of the financial services provider’s stock valued at $413,064,000 after purchasing an additional 197,422 shares during the period. Charles Schwab Investment Management Inc. grew its position in Prudential Financial by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,273,916 shares of the financial services provider’s stock valued at $215,772,000 after buying an additional 38,229 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Prudential Financial by 9,281.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock worth $141,962,000 after buying an additional 1,354,248 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Prudential Financial by 2.9% in the third quarter. FMR LLC now owns 1,315,215 shares of the financial services provider’s stock valued at $124,801,000 after acquiring an additional 36,599 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the topic of several research analyst reports. TheStreet upgraded Prudential Financial from a “c+” rating to an “a-” rating in a research report on Tuesday, February 6th. Evercore ISI boosted their price target on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research report on Thursday, April 25th. Keefe, Bruyette & Woods lifted their price objective on shares of Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Wells Fargo & Company increased their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. Finally, Morgan Stanley upped their price target on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. Based on data from MarketBeat, Prudential Financial currently has an average rating of “Hold” and a consensus target price of $111.08.

Insider Buying and Selling at Prudential Financial

In other news, SVP Timothy L. Schmidt sold 7,912 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total transaction of $855,524.56. Following the transaction, the senior vice president now directly owns 14,754 shares in the company, valued at approximately $1,595,350.02. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Timothy L. Schmidt sold 7,912 shares of Prudential Financial stock in a transaction dated Thursday, February 29th. The stock was 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 approximately $1,595,350.02. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was 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 approximately $2,642,656.59. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,255 shares of company stock worth $3,215,664. 0.34% of the stock is currently owned by company insiders.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $115.26 on Tuesday. Prudential Financial, Inc. has a 12 month low of $77.87 and a 12 month high of $118.69. 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 stock has a market cap of $41.38 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 0.83 and a beta of 1.35. The business has a fifty day simple moving average of $112.31 and a 200-day simple moving average of $104.60.

Prudential Financial (NYSE:PRU) last announced 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 business had revenue of $15.01 billion for the quarter, compared to analyst estimates of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The company’s revenue was up 69.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.66 earnings per share. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 13.36 EPS for the current fiscal year.

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.