Prudential Financial, Inc. (NYSE:PRU) Shares Sold by FORVIS Wealth Advisors LLC

FORVIS Wealth Advisors LLC lowered its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 6.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,032 shares of the financial services provider’s stock after selling 364 shares during the period. FORVIS Wealth Advisors LLC’s holdings in Prudential Financial were worth $591,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Cambridge Trust Co. boosted its stake 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 purchasing an additional 105 shares during the period. Bruce G. Allen Investments LLC purchased a new position in Prudential Financial during the 4th quarter worth $26,000. Headinvest LLC purchased a new position in Prudential Financial during the 3rd quarter worth $27,000. Arlington Trust Co LLC raised its position in Prudential Financial by 151.6% during 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, Riverview Trust Co purchased a new position in Prudential Financial during the 1st quarter worth $37,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Timothy L. Schmidt sold 5,189 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total value of $604,933.62. Following the sale, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at $1,426,472.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Timothy L. Schmidt sold 5,189 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total value of $604,933.62. Following the sale, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at $1,426,472.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was bought at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the transaction, the insider now directly owns 3,883,390 shares of the company’s stock, valued at approximately $107,065,062.30. The disclosure for this purchase can be found here. 0.34% of the stock is owned by corporate insiders.

Prudential Financial Stock Performance

Shares of Prudential Financial stock remained flat at $118.55 during mid-day trading on Thursday. 718,184 shares of the company’s stock traded hands, compared to its average volume of 1,321,852. Prudential Financial, Inc. has a one year low of $87.57 and a one year high of $121.39. The company has a market cap of $42.56 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. The stock has a fifty day moving average of $116.75 and a 200-day moving average of $111.20. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results 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 return on equity of 15.50% and a net margin of 3.76%. The firm had revenue of $15.01 billion for the quarter, compared to analyst estimates of $14.50 billion. During the same period in the prior year, the business earned $2.66 earnings per share. Prudential Financial’s revenue for the quarter was up 69.9% on a year-over-year basis. Equities research analysts forecast that Prudential Financial, Inc. will post 13.41 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were paid a dividend of $1.30 per share. The ex-dividend date was Monday, May 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.39%. Prudential Financial’s dividend payout ratio is currently 88.44%.

Analyst Ratings Changes

PRU has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped 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 report on Wednesday, April 10th. Morgan Stanley increased their price target on shares of Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Jefferies Financial Group cut their price target on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a report on Friday, June 28th. Evercore ISI increased their price target 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. Finally, Piper Sandler cut their price target on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $115.92.

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.