Ellevest Inc. Sells 155 Shares of Prudential Financial, Inc. (NYSE:PRU)

Ellevest Inc. trimmed its position in Prudential Financial, Inc. (NYSE:PRU) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,099 shares of the financial services provider’s stock after selling 155 shares during the period. Ellevest Inc.’s holdings in Prudential Financial were worth $723,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Prudential Financial by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider’s stock valued at $4,960,547,000 after buying an additional 220,671 shares during the period. Geode Capital Management LLC boosted its position in shares of Prudential Financial by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 8,856,360 shares of the financial services provider’s stock valued at $1,050,635,000 after acquiring an additional 193,681 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Prudential Financial by 23.7% during the fourth quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider’s stock worth $555,513,000 after purchasing an additional 897,916 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Prudential Financial by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,454,278 shares of the financial services provider’s stock worth $290,906,000 after purchasing an additional 6,938 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Prudential Financial by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,409,521 shares of the financial services provider’s stock valued at $285,601,000 after purchasing an additional 26,210 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the transaction, the executive vice president now owns 27,072 shares in the company, valued at $2,869,090.56. The trade was a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the stock in a transaction on Tuesday, March 25th. The stock was bought at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the acquisition, the insider now directly owns 139,987 shares of the company’s stock, valued at $3,992,429.24. This trade represents a 60.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PRU. Barclays decreased their price target on shares of Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating on the stock in a report on Friday, April 11th. Keefe, Bruyette & Woods reduced their target price on Prudential Financial from $120.00 to $117.00 and set a “market perform” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. dropped their price target on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Morgan Stanley decreased their price objective on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Finally, UBS Group cut their target price on Prudential Financial from $130.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $121.92.

Prudential Financial Stock Down 0.1 %

Shares of NYSE PRU opened at $103.55 on Friday. The firm’s fifty day moving average is $104.89 and its 200 day moving average is $114.68. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week 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 company has a market cap of $36.70 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 0.98 and a beta of 1.07.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.11. The firm had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $14.76 billion. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. The company’s revenue for the quarter was down 38.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.12 earnings per share. On average, equities research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be given a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.21%. Prudential Financial’s dividend payout ratio is currently 85.58%.

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.