Adirondack Trust Co. Reduces Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Adirondack Trust Co. lowered its holdings in shares of Prudential Financial, Inc. (NYSE:PRUFree Report) by 14.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,694 shares of the financial services provider’s stock after selling 610 shares during the quarter. Adirondack Trust Co.’s holdings in Prudential Financial were worth $403,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling

In other 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 sale, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total transaction of $604,933.62. Following the completion of the transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert Falzon sold 130,092 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $118.57, for a total value of $15,425,008.44. Following the completion of the sale, the executive vice president now owns 202,083 shares in the company, valued at approximately $23,960,981.31. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Prudential Financial Stock Up 0.2 %

Shares of PRU traded up $0.27 during mid-day trading on Tuesday, hitting $114.78. 147,980 shares of the company traded hands, compared to its average volume of 1,467,266. The business has a 50 day moving average of $115.07 and a 200 day moving average of $109.86. The company has a market capitalization of $41.21 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 0.85 and a beta of 1.35. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. Prudential Financial, Inc. has a 1-year low of $83.34 and a 1-year high of $121.39.

Prudential Financial (NYSE:PRUGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.04). The company had revenue of $15.01 billion for the quarter, compared to analyst estimates of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The company’s quarterly revenue was up 69.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.66 earnings per share. Equities research analysts anticipate that Prudential Financial, Inc. will post 13.41 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Tuesday, May 21st were issued 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 of this dividend was Monday, May 20th. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Piper Sandler dropped their price target on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Evercore ISI increased their price target on Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research note on Thursday, April 25th. Keefe, Bruyette & Woods boosted their price objective on 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 increased their target price on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research report on Thursday, April 11th. Finally, Jefferies Financial Group raised Prudential Financial from a “hold” rating to a “buy” rating and boosted their price target for the stock from $121.00 to $143.00 in a report 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $115.25.

Check Out Our Latest Stock Analysis on PRU

About Prudential Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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