Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Adirondack Trust Co.

Adirondack Trust Co. reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 14.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,694 shares of the financial services provider’s stock after selling 610 shares during the period. Adirondack Trust Co.’s holdings in Prudential Financial were worth $403,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Choreo LLC lifted its position in shares of Prudential Financial by 163.5% during the 4th quarter. Choreo LLC now owns 6,940 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 4,306 shares during the last quarter. FMR LLC lifted its holdings in Prudential Financial by 2.9% during the 3rd quarter. FMR LLC now owns 1,315,215 shares of the financial services provider’s stock worth $124,801,000 after buying an additional 36,599 shares during the last quarter. Greenwood Capital Associates LLC purchased a new position in shares of Prudential Financial in the 4th quarter valued at about $1,087,000. Crestline Management LP raised its position in shares of Prudential Financial by 50.0% during the 4th quarter. Crestline Management LP now owns 60,000 shares of the financial services provider’s stock worth $6,223,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Tyche Wealth Partners LLC purchased a new stake in Prudential Financial during the fourth quarter worth approximately $815,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Prudential Financial

In related news, SVP Timothy L. Schmidt sold 5,189 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 12,236 shares in the company, valued at $1,426,472.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial 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 transaction, 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 SEC, which is available at the SEC website. Also, EVP Robert Falzon sold 130,092 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the transaction, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Prudential Financial Trading Up 0.2 %

Shares of Prudential Financial stock traded up $0.27 on Tuesday, reaching $114.78. 147,980 shares of the company were exchanged, compared to its average volume of 1,467,266. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67. Prudential Financial, Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $121.39. The firm has a market capitalization of $41.21 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 0.85 and a beta of 1.35. The stock has a fifty day moving average price of $115.07 and a 200-day moving average price of $109.86.

Prudential Financial (NYSE:PRU) last posted 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). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The firm had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. During the same period in the prior year, the company posted $2.66 earnings per share. Prudential Financial’s quarterly revenue was up 69.9% compared to the same quarter last year. On average, analysts expect that Prudential Financial, Inc. will post 13.41 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date was Monday, May 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Wall Street Analyst Weigh In

PRU has been the topic of several research analyst reports. Morgan Stanley lifted their price target on shares of Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Piper Sandler decreased their price objective on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Keefe, Bruyette & Woods upped their price target on shares of Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Wells Fargo & Company upped their price objective on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. Finally, Jefferies Financial Group upgraded Prudential Financial from a “hold” rating to a “buy” rating and lifted their price target for the company from $121.00 to $143.00 in a research note on Wednesday, May 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Prudential Financial has a consensus rating of “Hold” and an average price target of $115.25.

About Prudential Financial

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.