Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp cut its stake in Prudential Financial, Inc. (NYSE:PRU) by 8.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,597 shares of the financial services provider’s stock after selling 3,955 shares during the period. Fifth Third Bancorp’s holdings in Prudential Financial were worth $5,168,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. apricus wealth LLC boosted its stake in Prudential Financial by 2.2% during the 4th quarter. apricus wealth LLC now owns 5,286 shares of the financial services provider’s stock valued at $627,000 after purchasing an additional 113 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of Prudential Financial by 9.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 2,279 shares of the financial services provider’s stock valued at $270,000 after buying an additional 195 shares during the last quarter. CX Institutional grew its holdings in Prudential Financial by 32.6% in the 4th quarter. CX Institutional now owns 43,724 shares of the financial services provider’s stock worth $5,183,000 after buying an additional 10,751 shares in the last quarter. Sound Income Strategies LLC increased its position in Prudential Financial by 13.2% in the 4th quarter. Sound Income Strategies LLC now owns 32,495 shares of the financial services provider’s stock valued at $3,852,000 after acquiring an additional 3,787 shares during the period. Finally, RFG Advisory LLC boosted its position in Prudential Financial by 16.5% during the 4th quarter. RFG Advisory LLC now owns 10,489 shares of the financial services provider’s stock worth $1,243,000 after acquiring an additional 1,488 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Trading Up 0.3 %

Shares of PRU opened at $117.22 on Monday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 1-year low of $100.60 and a 1-year high of $130.55. The stock has a market capitalization of $41.73 billion, a P/E ratio of 10.42, a P/E/G ratio of 1.09 and a beta of 1.31. The business’s 50-day moving average price is $121.29 and its 200 day moving average price is $120.68.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The firm had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same quarter last year, the business posted $3.44 EPS. Analysts expect that Prudential Financial, Inc. will post 13.24 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s payout ratio is 46.22%.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the business’s stock in a transaction on Monday, November 25th. The stock was bought at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the transaction, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PRU. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and raised their price target for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Keefe, Bruyette & Woods reduced their price target on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research note on Thursday, January 16th. Barclays raised their price objective on shares of Prudential Financial from $127.00 to $128.00 and gave the company an “equal weight” rating in a research note on Thursday. BMO Capital Markets started coverage on Prudential Financial in a research report on Thursday. They issued an “underperform” rating and a $101.00 target price for the company. Finally, Wells Fargo & Company dropped their price objective on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and an average price target of $125.31.

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.