Alphastar Capital Management LLC Trims Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Alphastar Capital Management LLC lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRUGet Rating) by 8.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,832 shares of the financial services provider’s stock after selling 600 shares during the quarter. Alphastar Capital Management LLC’s holdings in Prudential Financial were worth $802,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. First Horizon Advisors Inc. raised its position in Prudential Financial by 39.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 135,206 shares of the financial services provider’s stock valued at $10,247,000 after purchasing an additional 38,342 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Prudential Financial by 2.4% during the 3rd quarter. CIBC Asset Management Inc now owns 36,050 shares of the financial services provider’s stock worth $3,792,000 after purchasing an additional 860 shares during the period. Mackenzie Financial Corp boosted its stake in Prudential Financial by 15.3% during the 3rd quarter. Mackenzie Financial Corp now owns 111,443 shares of the financial services provider’s stock worth $11,724,000 after purchasing an additional 14,752 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its stake in Prudential Financial by 298.3% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 281,606 shares of the financial services provider’s stock worth $29,625,000 after purchasing an additional 210,896 shares during the period. Finally, Eagle Capital Management LLC purchased a new stake in Prudential Financial during the 2nd quarter valued at approximately $3,576,000. Institutional investors and hedge funds own 56.27% of the company’s stock.

Shares of PRU traded up $0.12 during midday trading on Tuesday, reaching $118.62. 15,187 shares of the company were exchanged, compared to its average volume of 2,037,183. The stock has a 50-day moving average price of $114.42 and a 200-day moving average price of $111.69. The company has a market cap of $44.60 billion, a price-to-earnings ratio of 6.11, a P/E/G ratio of 1.13 and a beta of 1.53. Prudential Financial, Inc. has a 1-year low of $94.51 and a 1-year high of $124.22. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.30.

Prudential Financial (NYSE:PRUGet Rating) last issued its quarterly earnings data on Thursday, February 3rd. The financial services provider reported $3.18 EPS for the quarter, topping the Zacks’ consensus estimate of $2.39 by $0.79. Prudential Financial had a return on equity of 9.62% and a net margin of 12.72%. The company had revenue of $13.74 billion for the quarter, compared to analysts’ expectations of $13.44 billion. During the same quarter in the previous year, the firm posted $2.93 earnings per share. Equities research analysts anticipate that Prudential Financial, Inc. will post 11.51 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 11th. Investors of record on Tuesday, February 15th were paid a $1.20 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Monday, February 14th. This represents a $4.80 annualized dividend and a dividend yield of 4.05%. Prudential Financial’s payout ratio is 24.73%.

A number of analysts have weighed in on PRU shares. StockNews.com started coverage on Prudential Financial in a research report on Thursday, March 31st. They set a “hold” rating for the company. Wells Fargo & Company increased their price objective on Prudential Financial from $109.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 4th. Wolfe Research started coverage on Prudential Financial in a research report on Friday, January 21st. They set a “market perform” rating and a $131.00 price objective for the company. Morgan Stanley increased their price objective on Prudential Financial from $114.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 22nd. Finally, Piper Sandler increased their price objective on Prudential Financial from $118.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 6th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $113.14.

In related news, EVP Andrew F. Sullivan sold 2,231 shares of the business’s stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $106.28, for a total value of $237,110.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Timothy L. Schmidt sold 14,713 shares of the company’s stock in a transaction that occurred on Monday, February 7th. The shares were sold at an average price of $120.00, for a total value of $1,765,560.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,975 shares of company stock worth $9,821,709. Insiders own 0.31% of the company’s stock.

Prudential Financial Profile (Get Rating)

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 eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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