VCI Wealth Management LLC Sells 5,673 Shares of Prudential Financial, Inc. $PRU

VCI Wealth Management LLC trimmed its position in Prudential Financial, Inc. (NYSE:PRU) by 29.4% in the first quarter, Holdings Channel.com reports. The firm owned 13,619 shares of the financial services provider’s stock after selling 5,673 shares during the period. VCI Wealth Management LLC’s holdings in Prudential Financial were worth $1,330,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Jessup Wealth Management Inc acquired a new stake in shares of Prudential Financial during the 4th quarter worth approximately $25,000. Garton & Associates Financial Advisors LLC acquired a new stake in Prudential Financial during the 4th quarter worth $26,000. Salomon & Ludwin LLC lifted its stake in shares of Prudential Financial by 98.3% in the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 114 shares during the period. Lodestone Wealth Management LLC bought a new position in shares of Prudential Financial in the 4th quarter worth $28,000. Finally, Coston McIsaac & Partners grew its stake in shares of Prudential Financial by 93.4% during the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 128 shares during the period. Institutional investors own 56.83% of the company’s stock.

Analysts Set New Price Targets

PRU has been the topic of several analyst reports. Weiss Ratings raised Prudential Financial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. Keefe, Bruyette & Woods upped their price target on Prudential Financial from $100.00 to $106.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Evercore reiterated a “negative” rating on shares of Prudential Financial in a research report on Friday, March 6th. Jefferies Financial Group lowered shares of Prudential Financial from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $124.00 to $98.00 in a research note on Wednesday, April 22nd. Finally, Piper Sandler upped their target price on shares of Prudential Financial from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday. Eleven equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Prudential Financial currently has a consensus rating of “Reduce” and a consensus target price of $101.92.

Prudential Financial Stock Up 1.3%

Shares of Prudential Financial stock opened at $108.38 on Friday. The company has a market capitalization of $37.61 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 1.95 and a beta of 0.86. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The business has a 50-day moving average of $102.51 and a two-hundred day moving average of $104.28. Prudential Financial, Inc. has a 1 year low of $91.89 and a 1 year high of $119.76.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.52. The business had revenue of $15.23 billion for the quarter, compared to analysts’ expectations of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same quarter in the previous year, the business posted $3.29 EPS. As a group, equities analysts predict that Prudential Financial, Inc. will post 13.81 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $5.60 annualized dividend and a dividend yield of 5.2%. Prudential Financial’s dividend payout ratio is currently 57.61%.

Prudential Financial Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.