Commonwealth Equity Services LLC Sells 2,364 Shares of Prudential Financial, Inc. (NYSE:PRU)

Commonwealth Equity Services LLC lowered its position in Prudential Financial, Inc. (NYSE:PRU) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 277,526 shares of the financial services provider’s stock after selling 2,364 shares during the period. Commonwealth Equity Services LLC’s holdings in Prudential Financial were worth $32,895,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. HBK Sorce Advisory LLC increased its holdings in shares of Prudential Financial by 1.0% in the fourth quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider’s stock valued at $1,116,000 after purchasing an additional 91 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Prudential Financial by 2.3% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 70,082 shares of the financial services provider’s stock valued at $8,280,000 after purchasing an additional 1,564 shares in the last quarter. Erste Asset Management GmbH increased its holdings in shares of Prudential Financial by 11.7% in the fourth quarter. Erste Asset Management GmbH now owns 62,890 shares of the financial services provider’s stock valued at $7,488,000 after purchasing an additional 6,607 shares in the last quarter. Rakuten Securities Inc. increased its holdings in shares of Prudential Financial by 12,085.7% in the fourth quarter. Rakuten Securities Inc. now owns 853 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 846 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its holdings in shares of Prudential Financial by 7.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 20,339 shares of the financial services provider’s stock valued at $2,411,000 after purchasing an additional 1,346 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU stock opened at $108.64 on Friday. The firm has a market capitalization of $38.89 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a 12-month low of $104.45 and a 12-month high of $130.55. The firm has a fifty day moving average of $114.31 and a 200-day moving average of $119.38. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68.

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

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were given a $1.35 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.97%. The ex-dividend date was Tuesday, February 18th. Prudential Financial’s payout ratio is currently 72.29%.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the transaction, the insider now directly owns 87,047 shares of the company’s stock, valued at $2,499,989.84. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the sale, the executive vice president now directly owns 27,072 shares in the company, 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. 0.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PRU has been the subject of a number of research reports. Jefferies Financial Group raised their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. BMO Capital Markets initiated coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price for the company. Wells Fargo & Company lifted their target price on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Morgan Stanley lowered their target price on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Finally, Barclays lifted their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Prudential Financial presently has an average rating of “Hold” and a consensus target price of $126.15.

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.