WESPAC Advisors LLC Sells 1,049 Shares of Prudential Financial, Inc. (NYSE:PRU)

WESPAC Advisors LLC cut its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 12.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,318 shares of the financial services provider’s stock after selling 1,049 shares during the quarter. WESPAC Advisors LLC’s holdings in Prudential Financial were worth $867,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Savant Capital LLC grew its holdings in Prudential Financial by 0.6% during the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock valued at $1,705,000 after purchasing an additional 83 shares during the period. Grove Bank & Trust grew its holdings in Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares during the period. Avidian Wealth Enterprises LLC grew its holdings in Prudential Financial by 1.2% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock valued at $891,000 after purchasing an additional 89 shares during the period. Asset Dedication LLC grew its holdings in Prudential Financial by 28.4% during the fourth quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 93 shares during the period. Finally, RNC Capital Management LLC grew its holdings in Prudential Financial by 3.3% during the fourth quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider’s stock valued at $354,000 after purchasing an additional 95 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Trading Down 1.5 %

Shares of PRU stock opened at $109.45 on Friday. Prudential Financial, Inc. has a 1 year low of $104.44 and a 1 year high of $130.55. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The stock’s 50 day simple moving average is $116.88 and its two-hundred day simple moving average is $119.71. The company has a market cap of $39.18 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 0.98 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Research analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be given a dividend of $1.35 per share. The ex-dividend date is Tuesday, February 18th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.93%. Prudential Financial’s dividend payout ratio is 72.29%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of Prudential Financial stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the acquisition, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. This represents a 12.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PRU. Keefe, Bruyette & Woods dropped their price objective on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research note on Wednesday, February 12th. BMO Capital Markets began coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective for the company. Jefferies Financial Group upped their price objective on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company upped their price objective on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and upped their price objective for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and a consensus price target of $125.69.

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.