Cetera Investment Advisers Lowers Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Cetera Investment Advisers lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 168,400 shares of the financial services provider’s stock after selling 1,254 shares during the period. Cetera Investment Advisers’ holdings in Prudential Financial were worth $19,960,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BOKF NA lifted its position in shares of Prudential Financial by 1.2% in the 4th quarter. BOKF NA now owns 207,563 shares of the financial services provider’s stock worth $23,772,000 after purchasing an additional 2,406 shares during the period. Cahill Financial Advisors Inc. bought a new stake in Prudential Financial during the 4th quarter valued at $351,000. Captrust Financial Advisors raised its position in shares of Prudential Financial by 7.0% in the 4th quarter. Captrust Financial Advisors now owns 32,518 shares of the financial services provider’s stock worth $3,854,000 after acquiring an additional 2,116 shares in the last quarter. Cary Street Partners Financial LLC bought a new position in shares of Prudential Financial in the 4th quarter worth $4,013,000. Finally, Baird Financial Group Inc. lifted its stake in shares of Prudential Financial by 2.8% during the 4th quarter. Baird Financial Group Inc. now owns 108,881 shares of the financial services provider’s stock worth $12,906,000 after purchasing an additional 2,958 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on PRU shares. Wells Fargo & Company boosted their price objective on shares of Prudential Financial from $108.00 to $113.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Piper Sandler decreased their price objective on Prudential Financial from $110.00 to $109.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. UBS Group dropped their target price on Prudential Financial from $130.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Barclays lowered their price target on Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. Finally, BMO Capital Markets started coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and an average price target of $121.92.

Prudential Financial Trading Up 2.4 %

Shares of Prudential Financial stock opened at $103.65 on Friday. The stock has a market cap of $36.74 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. The firm has a fifty day moving average price of $105.01 and a 200 day moving average price of $114.83. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16.

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

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 5.21%. The ex-dividend date is Tuesday, May 20th. Prudential Financial’s dividend payout ratio (DPR) is 85.58%.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the stock in a transaction on Tuesday, March 25th. The shares were bought at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the transaction, the insider now owns 139,987 shares of the company’s stock, valued at $3,992,429.24. This trade represents a 60.18 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 27,072 shares of the company’s stock, valued at $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

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.