Wellington Shields & Co. LLC Sells 740 Shares of Prudential Financial, Inc. (NYSE:PRU)

Wellington Shields & Co. LLC cut its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 8.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 8,342 shares of the financial services provider’s stock after selling 740 shares during the period. Wellington Shields & Co. LLC’s holdings in Prudential Financial were worth $989,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Intact Investment Management Inc. bought a new position in shares of Prudential Financial during the fourth quarter valued at $71,000. Atala Financial Inc bought a new position in shares of Prudential Financial during the fourth quarter valued at $247,000. LBP AM SA increased its holdings in shares of Prudential Financial by 17.4% during the fourth quarter. LBP AM SA now owns 137,716 shares of the financial services provider’s stock valued at $16,323,000 after acquiring an additional 20,396 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in Prudential Financial by 7.7% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 8,412 shares of the financial services provider’s stock worth $997,000 after buying an additional 600 shares in the last quarter. Finally, HBK Sorce Advisory LLC increased its holdings in Prudential Financial by 1.0% in the 4th quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider’s stock worth $1,116,000 after buying an additional 91 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Stock Up 3.4 %

PRU stock opened at $108.64 on Friday. Prudential Financial, Inc. has a twelve month low of $104.45 and a twelve month high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock has a market cap of $38.89 billion, a P/E ratio of 14.54, a PEG ratio of 0.98 and a beta of 1.28. The business’s 50-day moving average price is $114.31 and its 200-day moving average price is $119.37.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. On average, equities research analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were given a dividend of $1.35 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date was Tuesday, February 18th. Prudential Financial’s payout ratio is presently 72.29%.

Insider Buying and Selling

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the transaction, the executive vice president now directly owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. The trade was a 18.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the acquisition, the insider now owns 87,047 shares in the company, valued at $2,499,989.84. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. BMO Capital Markets assumed coverage on Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective for the company. Piper Sandler reduced their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. TD Cowen lifted their price objective on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Wells Fargo & Company lifted their price objective on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Finally, Jefferies Financial Group boosted their price target on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $126.15.

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.