Axxcess Wealth Management LLC Trims Holdings in Prudential Financial, Inc. (NYSE:PRU)

Axxcess Wealth Management LLC lowered its position in Prudential Financial, Inc. (NYSE:PRU) by 31.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,409 shares of the financial services provider’s stock after selling 3,925 shares during the period. Axxcess Wealth Management LLC’s holdings in Prudential Financial were worth $872,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. First Financial Corp IN increased its holdings in Prudential Financial by 13.7% in the 4th quarter. First Financial Corp IN now owns 848 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 102 shares during the last quarter. McIlrath & Eck LLC grew its stake in shares of Prudential Financial by 18.0% in the fourth quarter. McIlrath & Eck LLC now owns 670 shares of the financial services provider’s stock valued at $69,000 after buying an additional 102 shares in the last quarter. Cambridge Trust Co. raised its holdings in shares of Prudential Financial by 77.2% in the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after buying an additional 105 shares during the period. Mechanics Financial Corp lifted its stake in Prudential Financial by 6.3% during the 4th quarter. Mechanics Financial Corp now owns 1,771 shares of the financial services provider’s stock worth $184,000 after acquiring an additional 105 shares in the last quarter. Finally, Raab & Moskowitz Asset Management LLC boosted its holdings in Prudential Financial by 1.8% during the 4th quarter. Raab & Moskowitz Asset Management LLC now owns 6,531 shares of the financial services provider’s stock valued at $677,000 after acquiring an additional 118 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insiders Place Their Bets

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

Prudential Financial Trading Up 2.7 %

Shares of Prudential Financial stock opened at $115.26 on Tuesday. The company has a fifty day simple moving average of $112.31 and a 200-day simple moving average of $104.60. Prudential Financial, Inc. has a 12-month low of $77.87 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 0.67. The stock has a market cap of $41.38 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 0.83 and a beta of 1.35.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The firm had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. During the same period in the previous year, the business posted $2.66 EPS. The business’s revenue for the quarter was up 69.9% compared to the same quarter last year. On average, equities analysts forecast that Prudential Financial, Inc. will post 13.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PRU. Wells Fargo & Company increased their price target on shares of Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods raised their price target on shares of Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Evercore ISI upped their price objective on Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research report on Thursday, April 25th. TheStreet upgraded Prudential Financial from a “c+” rating to an “a-” rating in a report on Tuesday, February 6th. Finally, Piper Sandler reduced their price target on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research report on Monday. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. Based on data from MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and a consensus target price of $111.08.

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.