Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC trimmed its stake in Prudential Financial, Inc. (NYSE:PRU) by 2.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,193 shares of the financial services provider’s stock after selling 104 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Prudential Financial were worth $435,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Valeo Financial Advisors LLC raised its stake in Prudential Financial by 10.2% during the 3rd quarter. Valeo Financial Advisors LLC now owns 4,528 shares of the financial services provider’s stock valued at $430,000 after purchasing an additional 420 shares during the period. Commonwealth Equity Services LLC increased its stake in Prudential Financial by 0.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 340,251 shares of the financial services provider’s stock valued at $32,286,000 after buying an additional 2,511 shares during the period. Accurate Wealth Management LLC lifted its position in Prudential Financial by 15.0% in the 3rd quarter. Accurate Wealth Management LLC now owns 6,161 shares of the financial services provider’s stock worth $597,000 after buying an additional 805 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Prudential Financial by 1.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 116,851 shares of the financial services provider’s stock valued at $11,088,000 after buying an additional 1,409 shares during the period. Finally, Kingswood Wealth Advisors LLC purchased a new position in shares of Prudential Financial during the 3rd quarter valued at $238,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Trading Down 0.5 %

Shares of PRU stock traded down $0.54 on Wednesday, hitting $109.94. The stock had a trading volume of 364,223 shares, compared to its average volume of 1,499,380. The company has a fifty day moving average price of $111.91 and a two-hundred day moving average price of $104.11. 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 firm has a market cap of $39.47 billion, a P/E ratio of 16.41, a PEG ratio of 0.76 and a beta of 1.37. Prudential Financial, Inc. has a twelve month low of $77.22 and a twelve month high of $118.69.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.04). The company had revenue of $15.01 billion for the quarter, compared to analyst estimates of $14.50 billion. Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The business’s quarterly revenue was up 69.9% on a year-over-year basis. During the same quarter last year, the business posted $2.66 earnings per share. As a group, analysts forecast that Prudential Financial, Inc. will post 13.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.73%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Friday, February 16th. Prudential Financial’s payout ratio is 77.73%.

Insiders Place Their Bets

In other Prudential Financial news, SVP Robert Axel sold 6,436 shares of the business’s 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 directly owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Timothy L. Schmidt sold 7,912 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $108.13, for a total value of $855,524.56. Following the transaction, the senior vice president now owns 14,754 shares in the company, valued at approximately $1,595,350.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Robert Axel sold 6,436 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the transaction, the senior vice president now owns 7,901 shares in the company, valued at approximately $883,805.86. The disclosure for this sale can be found here. Insiders sold a total of 29,255 shares of company stock valued at $3,215,664 in the last quarter. 0.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Morgan Stanley boosted their target price 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. Raymond James lowered Prudential Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, February 9th. Wells Fargo & Company lifted their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a report on Thursday, April 11th. Evercore ISI lifted their price target on Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $111.42.

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.