United Capital Financial Advisors LLC Trims Stake in Prudential Financial, Inc. (NYSE:PRU)

United Capital Financial Advisors LLC decreased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 15,854 shares of the financial services provider’s stock after selling 611 shares during the period. United Capital Financial Advisors LLC’s holdings in Prudential Financial were worth $1,879,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Grove Bank & Trust increased its stake 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 worth $26,000 after acquiring an additional 87 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of Prudential Financial during the fourth quarter valued at approximately $29,000. CGC Financial Services LLC lifted its holdings 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 valued at $33,000 after purchasing an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new stake in shares of Prudential Financial in the 4th quarter worth approximately $33,000. Finally, Hopwood Financial Services Inc. bought a new position in Prudential Financial during the 4th quarter valued at approximately $34,000. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Stock Performance

PRU opened at $99.39 on Friday. The company’s 50 day moving average is $107.69 and its 200 day moving average is $116.89. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The company has a market cap of $35.23 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 0.98 and a beta of 1.11. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. On average, equities research analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a $1.35 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 5.43%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio (DPR) is 72.29%.

Insider Activity at Prudential Financial

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the sale, the executive vice president now directly owns 27,072 shares in the company, valued at $2,869,090.56. This trade represents a 18.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was acquired at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the purchase, the insider now directly owns 139,987 shares in the company, valued at $3,992,429.24. This represents a 60.18 % increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on PRU. BMO Capital Markets initiated coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Prudential Financial from $125.00 to $120.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 9th. Wells Fargo & Company decreased their target price 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. UBS Group cut their price target on shares of Prudential Financial from $130.00 to $122.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. lowered their price objective on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $121.85.

Prudential Financial 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.