Financial Counselors Inc. Sells 3,159 Shares of Prudential Financial, Inc. (NYSE:PRU)

Financial Counselors Inc. reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 2.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 124,345 shares of the financial services provider’s stock after selling 3,159 shares during the period. Financial Counselors Inc.’s holdings in Prudential Financial were worth $14,739,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in PRU. Meridian Wealth Management LLC purchased a new stake in shares of Prudential Financial during the 3rd quarter worth approximately $280,000. Great Valley Advisor Group Inc. increased its position in Prudential Financial by 7.8% in the third quarter. Great Valley Advisor Group Inc. now owns 7,766 shares of the financial services provider’s stock worth $940,000 after buying an additional 559 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Prudential Financial by 4.0% in the third quarter. Cerity Partners LLC now owns 130,778 shares of the financial services provider’s stock valued at $15,837,000 after buying an additional 5,011 shares during the period. Kingsview Wealth Management LLC lifted its position in shares of Prudential Financial by 3.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 7,012 shares of the financial services provider’s stock valued at $849,000 after buying an additional 237 shares during the last quarter. Finally, Swedbank AB grew its stake in shares of Prudential Financial by 4.2% during the 3rd quarter. Swedbank AB now owns 311,700 shares of the financial services provider’s stock worth $37,747,000 after acquiring an additional 12,468 shares during the period. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Up 1.0 %

Shares of Prudential Financial stock opened at $114.32 on Wednesday. The company has a 50 day simple moving average of $113.44 and a two-hundred day simple moving average of $119.01. The firm has a market cap of $40.93 billion, a PE ratio of 15.30, a PEG ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a 1 year low of $104.45 and a 1 year high of $130.55. 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 (NYSE:PRU) last released 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 net margin of 4.01% and a return on equity of 15.86%. Analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently announced 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 an increase from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a yield of 4.72%. Prudential Financial’s payout ratio is presently 72.29%.

Wall Street Analyst Weigh In

PRU has been the topic of several recent research reports. Morgan Stanley dropped their price objective on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Keefe, Bruyette & Woods dropped their price target on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 12th. TD Cowen lifted their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Wells Fargo & Company increased their target price on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Finally, BMO Capital Markets began coverage on Prudential Financial in a research note on Thursday, January 23rd. They set 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 issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $126.15.

Insider Buying and Selling at Prudential Financial

In other news, 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 of the company’s stock, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the transaction, the insider now 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. Company insiders own 0.31% of the company’s stock.

About Prudential Financial

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.