Coldstream Capital Management Inc. Sells 1,373 Shares of Prudential Financial, Inc. (NYSE:PRU)

Coldstream Capital Management Inc. cut its stake in Prudential Financial, Inc. (NYSE:PRU) by 11.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,349 shares of the financial services provider’s stock after selling 1,373 shares during the period. Coldstream Capital Management Inc.’s holdings in Prudential Financial were worth $1,227,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PRU. Nebula Research & Development LLC acquired a new stake in Prudential Financial in the 4th quarter valued at approximately $3,358,000. Hancock Whitney Corp grew its stake in shares of Prudential Financial by 2.3% during the 4th quarter. Hancock Whitney Corp now owns 13,957 shares of the financial services provider’s stock worth $1,654,000 after acquiring an additional 310 shares in the last quarter. Syon Capital LLC raised its holdings in shares of Prudential Financial by 15.1% in the fourth quarter. Syon Capital LLC now owns 4,163 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 545 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Prudential Financial by 1.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 514,702 shares of the financial services provider’s stock worth $61,009,000 after purchasing an additional 6,669 shares in the last quarter. Finally, Dark Forest Capital Management LP boosted its holdings in Prudential Financial by 51.7% during the fourth quarter. Dark Forest Capital Management LP now owns 3,625 shares of the financial services provider’s stock worth $430,000 after purchasing an additional 1,235 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wells Fargo & Company cut their price target on shares of Prudential Financial from $118.00 to $108.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Keefe, Bruyette & Woods dropped their target price on Prudential Financial from $125.00 to $120.00 and set a “market perform” rating on the stock in a report on Wednesday, April 9th. JPMorgan Chase & Co. decreased 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. Barclays dropped their price objective on Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. Finally, Piper Sandler decreased their target price on shares of Prudential Financial from $122.00 to $110.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and an average target price of $121.85.

Prudential Financial Price Performance

Shares of PRU opened at $102.85 on Monday. The firm has a market capitalization of $36.45 billion, a PE ratio of 13.77, a PEG ratio of 0.98 and a beta of 1.11. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The company’s 50-day moving average is $106.64 and its 200-day moving average is $116.14. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. Equities analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were issued a dividend of $1.35 per share. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.25%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio (DPR) is currently 72.29%.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the purchase, the insider now directly owns 87,047 shares in the company, valued at approximately $2,499,989.84. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the transaction, the executive vice president now directly owns 27,072 shares of the company’s stock, valued at $2,869,090.56. This represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

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.