RWA Wealth Partners LLC Sells 97 Shares of Prudential Financial, Inc. (NYSE:PRU)

RWA Wealth Partners LLC trimmed its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,201 shares of the financial services provider’s stock after selling 97 shares during the period. RWA Wealth Partners LLC’s holdings in Prudential Financial were worth $379,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PRU. Avanza Fonder AB bought a new stake in shares of Prudential Financial in the 4th quarter worth approximately $3,423,000. Gateway Investment Advisers LLC boosted its holdings in Prudential Financial by 56.1% in the fourth quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock valued at $2,607,000 after acquiring an additional 7,907 shares in the last quarter. Principal Financial Group Inc. increased its position in Prudential Financial by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock valued at $50,830,000 after purchasing an additional 15,695 shares during the period. Janus Henderson Group PLC raised its holdings in Prudential Financial by 2.3% in the 3rd quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock worth $9,597,000 after purchasing an additional 1,765 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in shares of Prudential Financial by 18.7% in the 3rd quarter. HighTower Advisors LLC now owns 69,542 shares of the financial services provider’s stock worth $8,395,000 after purchasing an additional 10,964 shares during the period. 56.83% of the stock is owned by institutional investors.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $111.70 on Wednesday. Prudential Financial, Inc. has a 1 year low of $104.45 and a 1 year high of $130.55. The firm’s 50-day moving average is $112.78 and its 200 day moving average is $118.92. The stock has a market cap of $39.99 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 0.98 and a beta of 1.28. 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 issued its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) 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%. Sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were issued a $1.35 dividend. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.83%. Prudential Financial’s dividend payout ratio (DPR) is presently 72.29%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction that occurred 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. The trade was a 18.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were bought at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the purchase, the insider now owns 139,987 shares in the company, valued at approximately $3,992,429.24. The trade was a 60.18 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

PRU has been the topic of several research analyst reports. Wells Fargo & Company boosted their price target on shares of Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Morgan Stanley decreased their target price on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Keefe, Bruyette & Woods reduced their price target on 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. BMO Capital Markets initiated coverage on Prudential Financial in a research report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective for the company. Finally, Piper Sandler reduced their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $126.15.

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.