Webster Bank N. A. Sells 1,012 Shares of Prudential Financial, Inc. (NYSE:PRU)

Webster Bank N. A. lowered its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,106 shares of the financial services provider’s stock after selling 1,012 shares during the quarter. Webster Bank N. A.’s holdings in Prudential Financial were worth $1,466,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of PRU. Creekmur Asset Management LLC grew its stake in Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after buying an additional 108 shares in the last quarter. Lynx Investment Advisory bought a new stake in shares of Prudential Financial during the 2nd quarter worth $29,000. Crewe Advisors LLC bought a new stake in Prudential Financial in the first quarter worth $33,000. ESL Trust Services LLC bought a new stake in Prudential Financial in the first quarter worth $34,000. Finally, Riverview Trust Co bought a new stake in Prudential Financial in the first quarter worth $37,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Up 1.7 %

Prudential Financial stock traded up $2.02 during midday trading on Friday, hitting $123.72. 1,374,717 shares of the stock were exchanged, compared to its average volume of 1,495,057. Prudential Financial, Inc. has a fifty-two week low of $87.95 and a fifty-two week high of $128.52. The stock has a market capitalization of $44.42 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 0.97 and a beta of 1.30. The stock’s 50-day simple moving average is $116.93 and its 200 day simple moving average is $117.15. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing the consensus estimate of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The business had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. On average, equities analysts anticipate that Prudential Financial, Inc. will post 13.28 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 annualized dividend and a yield of 4.20%. Prudential Financial’s dividend payout ratio is currently 88.44%.

Analysts Set New Price Targets

Several brokerages have recently commented on PRU. Wells Fargo & Company upped their price objective on shares of Prudential Financial from $113.00 to $116.00 and gave the company an “equal weight” rating in a research note on Thursday. JPMorgan Chase & Co. raised their target price on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. TD Cowen initiated coverage on shares of Prudential Financial in a research report on Wednesday. They set a “hold” rating and a $130.00 price target for the company. Barclays initiated coverage on shares of Prudential Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 target price on the stock. Finally, Morgan Stanley dropped their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $123.69.

Insider Buying and Selling

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the acquisition, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

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.