Bryn Mawr Capital Management LLC Has $617,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Bryn Mawr Capital Management LLC trimmed its holdings in Prudential Financial, Inc. (NYSE:PRU) by 54.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,950 shares of the financial services provider’s stock after selling 7,100 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Prudential Financial were worth $617,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Morgan Stanley increased its stake in shares of Prudential Financial by 0.9% in the 3rd quarter. Morgan Stanley now owns 6,317,338 shares of the financial services provider’s stock valued at $599,452,000 after buying an additional 57,531 shares during the period. Northern Trust Corp raised its holdings in Prudential Financial by 4.8% during the 3rd quarter. Northern Trust Corp now owns 4,353,086 shares of the financial services provider’s stock worth $413,064,000 after purchasing an additional 197,422 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Prudential Financial by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,273,916 shares of the financial services provider’s stock valued at $215,772,000 after purchasing an additional 38,229 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Prudential Financial by 9,281.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock valued at $141,962,000 after purchasing an additional 1,354,248 shares during the last quarter. Finally, FMR LLC grew its position in shares of 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 period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PRU shares. TheStreet raised shares of Prudential Financial from a “c+” rating to an “a-” rating in a research note on Tuesday, February 6th. Wells Fargo & Company lifted their price objective on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research note on Thursday, April 11th. Piper Sandler increased their target price on Prudential Financial from $114.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Morgan Stanley lifted their price objective 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. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $118.00 price target (down previously from $119.00) on shares of Prudential Financial in a report on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $111.42.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $110.50 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market cap of $39.67 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 0.75 and a beta of 1.37. Prudential Financial, Inc. has a one year low of $77.22 and a one year high of $118.69. The stock’s 50-day moving average is $111.75 and its 200-day moving average is $103.80.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The firm had revenue of $13.02 billion for the quarter, compared to analyst estimates of $12.99 billion. During the same period last year, the company earned $2.42 EPS. The company’s revenue was up 6.7% compared to the same quarter last year. Equities analysts predict that Prudential Financial, Inc. will post 13.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm 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 4.71%. The ex-dividend date of this dividend was Friday, February 16th. Prudential Financial’s payout ratio is presently 77.73%.

Insider Transactions at Prudential Financial

In related news, 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 owns 14,754 shares of the company’s stock, valued at $1,595,350.02. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Timothy L. Schmidt sold 7,912 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of the transaction, the senior vice president now directly owns 14,754 shares of the company’s stock, valued at $1,595,350.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrew F. Sullivan sold 7,685 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total transaction of $857,415.45. Following the transaction, the executive vice president now owns 13,691 shares in the company, valued at $1,527,504.87. The disclosure for this sale can be found here. Insiders sold a total of 29,255 shares of company stock worth $3,215,664 in the last three months. Insiders own 0.31% of the company’s stock.

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.