Lipe & Dalton Sells 196 Shares of Prudential Financial, Inc. (NYSE:PRU)

Lipe & Dalton cut its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,652 shares of the financial services provider’s stock after selling 196 shares during the period. Lipe & Dalton’s holdings in Prudential Financial were worth $1,208,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SVB Wealth LLC lifted its stake in shares of Prudential Financial by 1.8% in the 4th quarter. SVB Wealth LLC now owns 16,233 shares of the financial services provider’s stock valued at $1,683,000 after purchasing an additional 293 shares during the last quarter. Capital Analysts LLC bought a new stake in shares of Prudential Financial in the 4th quarter valued at approximately $46,000. BOK Financial Private Wealth Inc. lifted its stake in shares of Prudential Financial by 78.5% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 1,573 shares of the financial services provider’s stock valued at $163,000 after purchasing an additional 692 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Prudential Financial in the 4th quarter valued at approximately $214,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Prudential Financial in the 4th quarter valued at approximately $2,261,000. 56.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

PRU has been the subject of several analyst reports. Evercore ISI raised their price objective on Prudential Financial from $104.00 to $115.00 and gave the company an “underperform” rating in a research note on Thursday, April 11th. Wells Fargo & Company increased their price target on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a report on Thursday, April 11th. Piper Sandler increased their price target on Prudential Financial from $114.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods increased their price target on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Finally, Raymond James downgraded Prudential Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, February 9th. Two research analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and an average target price of $111.33.

Prudential Financial Stock Down 0.7 %

Shares of NYSE:PRU traded down $0.77 on Tuesday, reaching $107.59. The company had a trading volume of 1,215,955 shares, compared to its average volume of 1,532,871. Prudential Financial, Inc. has a 52-week low of $77.22 and a 52-week high of $118.69. The firm’s 50 day simple moving average is $111.15 and its 200-day simple moving average is $102.78. The firm has a market capitalization of $38.62 billion, a PE ratio of 16.20, a PEG ratio of 0.74 and a beta of 1.37. 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 announced its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). The company had revenue of $13.02 billion during the quarter, compared to analysts’ expectations of $12.99 billion. Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.42 earnings per share. As a group, analysts expect that Prudential Financial, Inc. will post 13.4 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were given a $1.30 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Friday, February 16th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.83%. Prudential Financial’s dividend payout ratio (DPR) is presently 77.73%.

Insider Transactions at Prudential Financial

In other news, SVP Timothy L. Schmidt sold 7,912 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of the sale, the senior vice president now owns 14,754 shares of the company’s stock, valued at approximately $1,595,350.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Prudential Financial news, EVP Andrew F. Sullivan sold 7,685 shares of Prudential Financial stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total transaction of $857,415.45. Following the completion of the sale, the executive vice president now owns 13,691 shares of the company’s stock, valued at approximately $1,527,504.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Timothy L. Schmidt sold 7,912 shares of Prudential Financial stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the sale, the senior vice president now directly owns 14,754 shares of the company’s stock, valued at approximately $1,595,350.02. The disclosure for this sale can be found here. Insiders sold 29,255 shares of company stock valued at $3,215,664 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.

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.