Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Haverford Trust Co

Haverford Trust Co trimmed its holdings in Prudential Financial, Inc. (NYSE:PRU) by 8.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,747 shares of the financial services provider’s stock after selling 154 shares during the period. Haverford Trust Co’s holdings in Prudential Financial were worth $207,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Congress Wealth Management LLC DE raised its position in Prudential Financial by 49.6% during the fourth quarter. Congress Wealth Management LLC DE now owns 3,242 shares of the financial services provider’s stock valued at $384,000 after acquiring an additional 1,075 shares in the last quarter. Crowley Wealth Management Inc. purchased a new position in shares of Prudential Financial during the 4th quarter valued at approximately $86,000. Vanguard Group Inc. lifted its stake in shares of Prudential Financial by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider’s stock valued at $4,960,547,000 after purchasing an additional 220,671 shares during the period. Stevens Capital Management LP purchased a new stake in Prudential Financial during the fourth quarter worth $319,000. Finally, Guardian Partners Inc. purchased a new position in Prudential Financial in the fourth quarter valued at $252,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $114.32 on Wednesday. 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 business’s 50 day moving average price is $113.44 and its 200 day moving average price is $119.01. The company has a market cap of $40.93 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a one year low of $104.45 and a one year high of $130.55.

Prudential Financial (NYSE:PRU) last announced 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 net margin of 4.01% and a return on equity of 15.86%. On average, research analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were issued a dividend of $1.35 per share. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.72%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio (DPR) is currently 72.29%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PRU shares. Wells Fargo & Company increased their target price on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. BMO Capital Markets began coverage on Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective for the company. Morgan Stanley dropped their price target on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Keefe, Bruyette & Woods reduced their price objective on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. Finally, Barclays boosted their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $126.15.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the stock in a transaction on Wednesday, March 12th. The stock was bought at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the completion of the purchase, the insider now directly owns 87,047 shares in the company, valued at $2,499,989.84. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction that occurred 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Corporate 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.