Wilmington Savings Fund Society FSB Lowers Holdings in Prudential Financial, Inc. $PRU

Wilmington Savings Fund Society FSB reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 71.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,875 shares of the financial services provider’s stock after selling 42,645 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Prudential Financial were worth $1,751,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PRU. Darwin Wealth Management LLC purchased a new stake in Prudential Financial during the 2nd quarter valued at about $36,000. AlphaCore Capital LLC purchased a new stake in shares of Prudential Financial during the second quarter valued at approximately $39,000. Capital A Wealth Management LLC increased its position in shares of Prudential Financial by 4,600.0% during the second quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 368 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in Prudential Financial in the 2nd quarter worth approximately $51,000. Finally, Crews Bank & Trust lifted its position in Prudential Financial by 36.4% in the 2nd quarter. Crews Bank & Trust now owns 547 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $111.76 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $39.11 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. The firm’s 50 day moving average price is $112.09 and its 200-day moving average price is $107.21. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $123.88.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, October 29th. The financial services provider reported $4.26 EPS for the quarter, beating analysts’ consensus estimates of $3.72 by $0.54. The business had revenue of $17.89 billion during the quarter, compared to analysts’ expectations of $13.77 billion. Prudential Financial had a net margin of 4.65% and a return on equity of 16.60%. During the same period in the prior year, the company earned $3.48 earnings per share. Equities research analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, November 18th were given a dividend of $1.35 per share. The ex-dividend date was Tuesday, November 18th. This represents a $5.40 annualized dividend and a yield of 4.8%. Prudential Financial’s payout ratio is 74.18%.

Analyst Upgrades and Downgrades

PRU has been the subject of several recent analyst reports. Piper Sandler boosted their price target on Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 23rd. Wells Fargo & Company lifted their price objective on Prudential Financial from $113.00 to $115.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. Weiss Ratings upgraded shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Mizuho initiated coverage on shares of Prudential Financial in a research note on Tuesday, December 16th. They issued a “neutral” rating and a $125.00 price target for the company. Finally, Evercore ISI boosted their price objective on shares of Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $118.80.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, Chairman Charles F. Lowrey sold 48,164 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $107.39, for a total value of $5,172,331.96. Following the completion of the sale, the chairman owned 165,564 shares in the company, valued at $17,779,917.96. This represents a 22.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Caroline Feeney sold 6,555 shares of Prudential Financial stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $116.28, for a total value of $762,215.40. Following the transaction, the executive vice president directly owned 22,523 shares in the company, valued at approximately $2,618,974.44. The trade was a 22.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 62,719 shares of company stock valued at $6,796,067. Company insiders own 0.25% of the company’s stock.

About Prudential Financial

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.