Alaska Permanent Fund Corp Trims Position in Prudential Financial, Inc. (NYSE:PRU)

Alaska Permanent Fund Corp trimmed its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 27,153 shares of the financial services provider’s stock after selling 447 shares during the period. Alaska Permanent Fund Corp’s holdings in Prudential Financial were worth $2,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Cambridge Trust Co. increased its holdings in Prudential Financial by 77.2% in the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 105 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in Prudential Financial during the 4th quarter worth $26,000. Headinvest LLC acquired a new stake in Prudential Financial during the 3rd quarter worth $27,000. Arlington Trust Co LLC boosted its stake in Prudential Financial by 151.6% during the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 185 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of Prudential Financial in the third quarter valued at about $38,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Up 0.6 %

NYSE:PRU traded up $0.71 during mid-day trading on Wednesday, hitting $112.76. The stock had a trading volume of 1,126,873 shares, compared to its average volume of 1,516,036. The stock has a 50-day simple moving average of $111.52 and a two-hundred day simple moving average of $103.50. The company has a market capitalization of $40.48 billion, a PE ratio of 16.81, a PEG ratio of 0.76 and a beta of 1.37. Prudential Financial, Inc. has a twelve month low of $77.22 and a twelve month high of $118.69. 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 issued its earnings results on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.09). The firm had revenue of $13.02 billion during the quarter, compared to analyst estimates of $12.99 billion. Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same period last year, the business earned $2.42 EPS. On average, equities research analysts anticipate that Prudential Financial, Inc. will post 13.38 EPS for the current year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Tuesday, February 20th were paid a $1.30 dividend. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend was Friday, February 16th. Prudential Financial’s dividend payout ratio is currently 77.73%.

Analyst Ratings Changes

PRU has been the subject of a number of analyst reports. UBS Group upped their price objective on shares of Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Piper Sandler upped their price objective on shares of Prudential Financial from $114.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Evercore ISI upped their price objective on shares of Prudential Financial from $104.00 to $115.00 and gave the company an “underperform” rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods increased their target price on shares of Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Finally, TheStreet raised shares of Prudential Financial from a “c+” rating to an “a-” rating in a research note on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to MarketBeat, Prudential Financial has an average rating of “Hold” and a consensus target price of $111.33.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total value of $782,792.58. Following the transaction, the executive vice president now directly owns 24,381 shares in the company, valued at $2,642,656.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Timothy L. Schmidt sold 7,912 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total transaction of $855,524.56. Following the transaction, the senior vice president now directly owns 14,754 shares in the company, valued at $1,595,350.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ann M. Kappler sold 7,222 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the transaction, the executive vice president now owns 24,381 shares in the company, valued at $2,642,656.59. The disclosure for this sale can be found here. Insiders have sold 29,255 shares of company stock worth $3,215,664 over the last three months. Insiders own 0.34% of the company’s stock.

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.