Axxcess Wealth Management LLC Sells 110 Shares of Prudential Financial, Inc. (NYSE:PRU)

Axxcess Wealth Management LLC decreased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 1.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,995 shares of the financial services provider’s stock after selling 110 shares during the period. Axxcess Wealth Management LLC’s holdings in Prudential Financial were worth $829,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of PRU. Glenmede Trust Co. NA raised its holdings in Prudential Financial by 7.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock valued at $2,176,000 after acquiring an additional 1,234 shares during the period. Avanza Fonder AB purchased a new position in shares of Prudential Financial in the fourth quarter valued at $3,423,000. Gateway Investment Advisers LLC lifted its holdings in Prudential Financial by 56.1% during the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock worth $2,607,000 after purchasing an additional 7,907 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Prudential Financial by 3.9% in the 3rd quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock worth $50,830,000 after purchasing an additional 15,695 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Prudential Financial by 2.3% during the 3rd quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock valued at $9,597,000 after buying an additional 1,765 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PRU. Barclays raised their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Piper Sandler cut their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Wells Fargo & Company upped their price target 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 dropped their price objective on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Finally, BMO Capital Markets started coverage on Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target on the stock. One equities 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $126.15.

Insiders Place Their Bets

In related news, 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 transaction, the executive vice president now directly owns 27,072 shares of the company’s stock, valued at $2,869,090.56. The trade was a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the company’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 in the company, valued at $2,499,989.84. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

Prudential Financial Stock Up 0.1 %

Shares of NYSE PRU opened at $110.76 on Friday. The stock has a market capitalization of $39.65 billion, a P/E ratio of 14.83, a PEG ratio of 0.98 and a beta of 1.28. 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, Inc. has a one year low of $104.45 and a one year high of $130.55. The firm’s 50 day simple moving average is $113.65 and its two-hundred day simple moving average is $119.12.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. As a group, analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.88%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial’s dividend payout ratio (DPR) is presently 72.29%.

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.