US Bancorp DE Decreases Stock Position in Prudential Financial, Inc. (NYSE:PRU)

US Bancorp DE decreased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 10.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,618 shares of the financial services provider’s stock after selling 19,306 shares during the quarter. US Bancorp DE’s holdings in Prudential Financial were worth $17,902,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PRU. Banco de Sabadell S.A raised its position in shares of Prudential Financial by 5.7% in the 4th quarter. Banco de Sabadell S.A now owns 12,714 shares of the financial services provider’s stock worth $1,319,000 after buying an additional 683 shares during the period. Ontario Teachers Pension Plan Board increased its stake in Prudential Financial by 23.7% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 14,934 shares of the financial services provider’s stock worth $1,549,000 after acquiring an additional 2,860 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Prudential Financial by 34.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 783 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 200 shares during the period. Journey Strategic Wealth LLC purchased a new stake in shares of Prudential Financial during the 4th quarter worth about $256,000. Finally, Assetmark Inc. increased its position in Prudential Financial by 6.4% during the 4th quarter. Assetmark Inc. now owns 19,276 shares of the financial services provider’s stock worth $1,999,000 after purchasing an additional 1,154 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prudential Financial

In other news, SVP Timothy L. Schmidt sold 5,189 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was 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 approximately $1,426,472.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Timothy L. Schmidt sold 5,189 shares of the firm’s stock in a transaction dated 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 directly owns 12,236 shares in the company, valued at approximately $1,426,472.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ann M. Kappler sold 7,222 shares of Prudential Financial stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total transaction of $782,792.58. Following the completion of the transaction, the executive vice president now directly owns 24,381 shares of the company’s stock, valued at $2,642,656.59. The disclosure for this sale can be found here. Insiders have sold 164,536 shares of company stock worth $19,245,606 over the last quarter. 0.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PRU. Jefferies Financial Group upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $121.00 to $143.00 in a research note on Wednesday. TheStreet upgraded Prudential Financial from a “c+” rating to an “a-” rating in a report on Tuesday, February 6th. Morgan Stanley boosted their price objective on Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Evercore ISI increased their target price on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research note on Thursday, April 25th. Finally, Raymond James lowered Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $115.25.

Prudential Financial Stock Performance

Prudential Financial stock opened at $119.36 on Friday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67. The stock has a 50 day moving average of $114.68 and a 200-day moving average of $107.23. The stock has a market cap of $42.85 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 0.89 and a beta of 1.35. Prudential Financial, Inc. has a 52 week low of $78.40 and a 52 week high of $121.39.

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). The company had revenue of $15.01 billion for the quarter, compared to the consensus estimate of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The company’s revenue was up 69.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.66 earnings per share. On average, analysts expect that Prudential Financial, Inc. will post 13.4 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 21st will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.36%. The ex-dividend date is Monday, May 20th. Prudential Financial’s dividend payout ratio is currently 88.44%.

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.