Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Webster Bank N. A.

Webster Bank N. A. lowered its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 11,548 shares of the financial services provider’s stock after selling 558 shares during the quarter. Webster Bank N. A.’s holdings in Prudential Financial were worth $1,369,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Grove Bank & Trust increased its holdings in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Prudential Financial in the 3rd quarter valued at $31,000. Quarry LP raised its holdings in shares of Prudential Financial by 376.3% during the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 222 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in Prudential Financial during the fourth quarter valued at $37,000. Finally, Tompkins Financial Corp boosted its holdings in Prudential Financial by 61.7% in the third quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 140 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Bank of America boosted their price objective on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods dropped their price objective on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a research note on Thursday, January 16th. Jefferies Financial Group increased their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price objective for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Finally, Piper Sandler lowered their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and an average price target of $125.31.

Prudential Financial Trading Up 0.3 %

Shares of Prudential Financial stock opened at $117.22 on Monday. Prudential Financial, Inc. has a fifty-two week low of $100.60 and a fifty-two week high of $130.55. The stock has a 50 day moving average of $121.29 and a 200 day moving average of $120.68. The firm has a market capitalization of $41.73 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 1.09 and a beta of 1.31. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.01. The company had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter last year, the firm posted $3.44 earnings per share. As a group, research analysts predict that Prudential Financial, Inc. will post 13.24 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.44%. Prudential Financial’s dividend payout ratio is currently 46.22%.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the stock in a transaction dated Monday, November 25th. The stock was acquired at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the purchase, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.31% 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.