Wambolt & Associates LLC Trims Position in Prudential Financial, Inc. (NYSE:PRU)

Wambolt & Associates LLC cut its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 12.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,037 shares of the financial services provider's stock after selling 3,087 shares during the period. Wambolt & Associates LLC's holdings in Prudential Financial were worth $2,612,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PRU. Grove Bank & Trust lifted its holdings in shares of Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 87 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in Prudential Financial in the fourth quarter valued at approximately $29,000. CGC Financial Services LLC grew its position in shares of Prudential Financial by 82.1% during the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock worth $33,000 after acquiring an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. acquired a new position in shares of Prudential Financial in the 4th quarter valued at $33,000. Finally, Quarry LP boosted its stake in Prudential Financial by 376.3% during the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider's stock worth $34,000 after purchasing an additional 222 shares during the period. Institutional investors and hedge funds own 56.83% of the company's stock.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the company's stock in a transaction on Tuesday, March 25th. The stock was bought at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the transaction, the insider now owns 139,987 shares of the company's stock, valued at approximately $3,992,429.24. This represents a 60.18 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the company's 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 completion of the sale, the executive vice president now owns 27,072 shares in the company, valued at $2,869,090.56. This represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

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Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PRU shares. Jefferies Financial Group upped their target price 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. Barclays upped their price objective on Prudential Financial from $128.00 to $134.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Wells Fargo & Company boosted their target price on Prudential Financial from $113.00 to $118.00 and gave the company an "equal weight" rating in a report on Wednesday, February 19th. Morgan Stanley decreased their price target on 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, BMO Capital Markets initiated coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Prudential Financial currently has a consensus rating of "Hold" and an average price target of $126.15.

Prudential Financial Price Performance

PRU stock traded down $4.48 during trading on Friday, reaching $109.94. 2,326,712 shares of the company were exchanged, compared to its average volume of 1,538,419. Prudential Financial, Inc. has a 52-week low of $104.45 and a 52-week high of $130.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market cap of $39.36 billion, a P/E ratio of 14.72, a PEG ratio of 0.98 and a beta of 1.28. The stock's 50 day moving average price is $113.09 and its 200 day moving average price is $118.95.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share 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 predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm 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. The ex-dividend date was Tuesday, February 18th. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.91%. Prudential Financial's payout ratio is currently 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.