Pineridge Advisors LLC Has $28,000 Stake in Prudential Financial, Inc. (NYSE:PRU)

Pineridge Advisors LLC lowered its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 31.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 237 shares of the financial services provider’s stock after selling 109 shares during the quarter. Pineridge Advisors LLC’s holdings in Prudential Financial were worth $28,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Prudential Financial by 13.9% during the 4th quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock worth $4,386,192,000 after purchasing an additional 5,154,865 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Prudential Financial by 10.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock worth $414,926,000 after purchasing an additional 388,363 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Prudential Financial by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,346,612 shares of the financial services provider’s stock worth $243,367,000 after purchasing an additional 72,696 shares in the last quarter. International Assets Investment Management LLC lifted its position in Prudential Financial by 9,281.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock valued at $141,962,000 after acquiring an additional 1,354,248 shares in the last quarter. Finally, abrdn plc lifted its position in Prudential Financial by 37.5% in the 4th quarter. abrdn plc now owns 1,107,210 shares of the financial services provider’s stock valued at $114,829,000 after acquiring an additional 302,164 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of NYSE PRU traded down $3.11 during mid-day trading on Thursday, reaching $122.21. 1,298,776 shares of the company were exchanged, compared to its average volume of 1,442,483. Prudential Financial, Inc. has a 52 week low of $87.95 and a 52 week high of $128.52. 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 capitalization of $43.87 billion, a PE ratio of 21.31, a PEG ratio of 0.98 and a beta of 1.34. The company’s 50 day moving average price is $119.61 and its 200 day moving average price is $113.92.

Prudential Financial (NYSE:PRU) last issued its earnings results 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 during the quarter, compared to analysts’ expectations of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. Prudential Financial’s revenue for the quarter was up 69.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.66 EPS. Sell-side analysts forecast that Prudential Financial, Inc. will post 13.38 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date was Monday, May 20th. Prudential Financial’s payout ratio is 88.44%.

Analysts Set New Price Targets

Several brokerages recently weighed in on PRU. Citigroup raised their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company increased their price objective 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. Evercore ISI increased their price objective on shares of Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. raised their price target on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Finally, Keefe, Bruyette & Woods raised their price target on shares of Prudential Financial from $118.00 to $121.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $116.92.

Insider Buying and Selling at Prudential Financial

In related news, SVP Timothy L. Schmidt sold 5,189 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total transaction of $604,933.62. Following the sale, the senior vice president now owns 12,236 shares of the company’s stock, valued at $1,426,472.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Robert Falzon sold 130,092 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the completion of the transaction, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy L. Schmidt sold 5,189 shares of the company’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 transaction 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 disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

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.