Courier Capital LLC Sells 542 Shares of Prudential Financial, Inc. (NYSE:PRU)

Courier Capital LLC cut its position in Prudential Financial, Inc. (NYSE:PRU) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,943 shares of the financial services provider’s stock after selling 542 shares during the quarter. Courier Capital LLC’s holdings in Prudential Financial were worth $3,163,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRU. Vanguard Group Inc. grew its holdings in shares of Prudential Financial by 13.9% during the fourth quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock worth $4,386,192,000 after purchasing an additional 5,154,865 shares during the last quarter. Morgan Stanley grew its holdings in shares of Prudential Financial by 0.9% during the third quarter. Morgan Stanley now owns 6,317,338 shares of the financial services provider’s stock worth $599,452,000 after purchasing an additional 57,531 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Prudential Financial by 10.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock worth $414,926,000 after purchasing an additional 388,363 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Prudential Financial by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,346,612 shares of the financial services provider’s stock valued at $243,367,000 after acquiring an additional 72,696 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Prudential Financial by 9,281.4% in the fourth 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 acquiring an additional 1,354,248 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

PRU has been the topic of several analyst reports. Piper Sandler reduced their target price on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Keefe, Bruyette & Woods boosted their price target on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Jefferies Financial Group dropped their price target on Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday. Morgan Stanley boosted their price target on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Finally, Wells Fargo & Company boosted their price target on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Prudential Financial presently has a consensus rating of “Hold” and a consensus target price of $115.08.

Prudential Financial Stock Down 0.1 %

NYSE PRU traded down $0.14 on Friday, reaching $117.19. The company had a trading volume of 2,228,255 shares, compared to its average volume of 1,485,142. The stock has a market capitalization of $42.07 billion, a P/E ratio of 19.99, a P/E/G ratio of 0.88 and a beta of 1.35. The company’s fifty day moving average is $116.08 and its 200 day moving average is $110.70. Prudential Financial, Inc. has a 52-week low of $86.69 and a 52-week high of $121.39. 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 (NYSE:PRU) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The company’s quarterly revenue was up 69.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.66 earnings per share. Sell-side analysts anticipate that Prudential Financial, Inc. will post 13.41 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st were paid a dividend of $1.30 per share. The ex-dividend date was Monday, May 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.44%. Prudential Financial’s payout ratio is 88.44%.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the acquisition, the insider now owns 3,883,390 shares of the company’s stock, valued at approximately $107,065,062.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Timothy L. Schmidt sold 5,189 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total transaction of $604,933.62. Following the transaction, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were purchased at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the acquisition, the insider now owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The disclosure for this purchase can be found here. 0.31% of the stock is owned by corporate insiders.

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.