Bogart Wealth LLC Has $6.28 Million Stake in Prudential Financial, Inc. (NYSE:PRU)

Bogart Wealth LLC lessened its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,596 shares of the financial services provider’s stock after selling 1,206 shares during the period. Bogart Wealth LLC’s holdings in Prudential Financial were worth $6,284,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PRU. Cambridge Trust Co. grew its holdings in shares of Prudential Financial by 77.2% during the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after buying an additional 105 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of Prudential Financial during the 4th quarter worth approximately $26,000. Headinvest LLC bought a new stake in shares of Prudential Financial in the third quarter worth $27,000. Arlington Trust Co LLC boosted its holdings in Prudential Financial by 151.6% during the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 185 shares during the last quarter. Finally, Janiczek Wealth Management LLC increased its stake in Prudential Financial by 49.6% in the 4th quarter. Janiczek Wealth Management LLC now owns 374 shares of the financial services provider’s stock valued at $39,000 after buying an additional 124 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Activity

In other Prudential Financial news, EVP Andrew F. Sullivan sold 7,685 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total value of $857,415.45. Following the transaction, the executive vice president now directly owns 13,691 shares of the company’s stock, valued at approximately $1,527,504.87. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Timothy L. Schmidt sold 7,912 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of the transaction, the senior vice president now directly owns 14,754 shares in the company, valued at approximately $1,595,350.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew F. Sullivan sold 7,685 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total value of $857,415.45. Following the sale, the executive vice president now owns 13,691 shares in the company, valued at approximately $1,527,504.87. The disclosure for this sale can be found here. In the last three months, insiders sold 29,255 shares of company stock worth $3,215,664. 0.34% of the stock is currently owned by company insiders.

Prudential Financial Stock Performance

NYSE:PRU traded up $0.97 during mid-day trading on Thursday, hitting $117.66. 160,420 shares of the stock were exchanged, compared to its average volume of 1,505,618. Prudential Financial, Inc. has a fifty-two week low of $77.87 and a fifty-two week high of $118.69. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a market capitalization of $42.24 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 0.83 and a beta of 1.35. The firm’s 50-day simple moving average is $112.48 and its 200 day simple moving average is $104.78.

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

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st will be issued a $1.30 dividend. The ex-dividend date is Monday, May 20th. This represents a $5.20 annualized dividend and a yield of 4.42%. Prudential Financial’s dividend payout ratio is presently 88.44%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PRU. Piper Sandler reduced their price objective on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research note on Monday. Keefe, Bruyette & Woods boosted their price target on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. 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. Raymond James lowered shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. Finally, Morgan Stanley lifted their price objective on shares of Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $111.08.

Prudential Financial Company 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.