Everence Capital Management Inc. Sells 3,760 Shares of Prudential Financial, Inc. (NYSE:PRU)

Everence Capital Management Inc. trimmed its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 21.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,160 shares of the financial services provider’s stock after selling 3,760 shares during the period. Everence Capital Management Inc.’s holdings in Prudential Financial were worth $1,469,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Prudential Financial during the 4th quarter valued at $25,000. Bruce G. Allen Investments LLC bought a new stake in shares of Prudential Financial during the 4th quarter valued at $26,000. Headinvest LLC bought a new stake in shares of Prudential Financial during the 3rd quarter valued at $27,000. Pacific Center for Financial Services bought a new stake in shares of Prudential Financial during the 1st quarter valued at $27,000. Finally, Coppell Advisory Solutions LLC bought a new stake in shares of Prudential Financial during the 2nd quarter valued at $28,000. 56.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Robert Axel sold 6,436 shares of Prudential Financial stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total transaction of $719,930.96. Following the completion of the sale, the senior vice president now owns 7,901 shares in the company, valued at approximately $883,805.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Andrew F. Sullivan sold 7,685 shares of Prudential Financial stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total transaction of $857,415.45. Following the completion of the sale, the executive vice president now owns 13,691 shares in the company, valued at approximately $1,527,504.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert Axel sold 6,436 shares of Prudential Financial stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total transaction of $719,930.96. Following the sale, the senior vice president now owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,255 shares of company stock valued at $3,215,664. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the subject of several research analyst reports. Evercore ISI raised their target price on shares of Prudential Financial from $104.00 to $115.00 and gave the company an “underperform” rating in a research note on Thursday, April 11th. Piper Sandler raised their target price on shares of 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 raised their target price on shares of Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday. Wells Fargo & Company raised their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $118.00 target price (down from $119.00) on shares of Prudential Financial in a research note on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. Based on data from MarketBeat, Prudential Financial has an average rating of “Hold” and a consensus price target of $111.33.

Prudential Financial Price Performance

PRU stock opened at $107.59 on Wednesday. Prudential Financial, Inc. has a 12 month low of $77.22 and a 12 month high of $118.69. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average price of $111.23 and a 200 day moving average price of $102.87. The stock has a market cap of $38.62 billion, a PE ratio of 16.08, a P/E/G ratio of 0.73 and a beta of 1.37.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 EPS 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 analysts’ expectations of $12.99 billion. During the same period in the prior year, the firm posted $2.42 earnings per share. Prudential Financial’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities research analysts anticipate that Prudential Financial, Inc. will post 13.4 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were paid a dividend of $1.30 per share. The ex-dividend date was Friday, February 16th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.83%. Prudential Financial’s payout ratio is currently 77.73%.

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.