Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Optivise Advisory Services LLC

Optivise Advisory Services LLC lessened its stake in Prudential Financial, Inc. (NYSE:PRU) by 13.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,030 shares of the financial services provider’s stock after selling 329 shares during the period. Optivise Advisory Services LLC’s holdings in Prudential Financial were worth $241,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avanza Fonder AB acquired a new position in Prudential Financial during the 4th quarter worth about $3,423,000. Gateway Investment Advisers LLC lifted its position in shares of Prudential Financial by 56.1% during the fourth 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 shares of Prudential Financial by 3.9% in the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock valued at $50,830,000 after purchasing an additional 15,695 shares during the period. Asset Allocation & Management Company LLC purchased a new stake in Prudential Financial during the 4th quarter worth approximately $209,000. Finally, Czech National Bank lifted its holdings in Prudential Financial by 6.1% during the 4th quarter. Czech National Bank now owns 77,188 shares of the financial services provider’s stock worth $9,149,000 after buying an additional 4,464 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Up 0.8 %

Prudential Financial stock opened at $99.39 on Monday. The stock has a 50-day simple moving average of $107.69 and a 200-day simple moving average of $116.86. The company has a market capitalization of $35.23 billion, a P/E ratio of 13.31, a PEG ratio of 0.98 and a beta of 1.11. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (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%. Equities research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.43%. This is a boost 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 is presently 72.29%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PRU shares. UBS Group cut their price objective on Prudential Financial from $130.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Barclays reduced their price target on Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. BMO Capital Markets started coverage on Prudential Financial in a research report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective for the company. Keefe, Bruyette & Woods reduced their target price on shares of Prudential Financial from $125.00 to $120.00 and set a “market perform” rating on the stock in a report on Wednesday, April 9th. Finally, Wells Fargo & Company lowered their price target on shares of Prudential Financial from $118.00 to $108.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $121.85.

Insider Transactions at Prudential Financial

In other news, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the sale, the executive vice president now 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the business’s stock in a transaction that occurred 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 completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.25% of the company’s stock.

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.