Stock Yards Bank & Trust Co. Sells 634 Shares of Prudential Financial, Inc. (NYSE:PRU)

Stock Yards Bank & Trust Co. cut its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 13.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,032 shares of the financial services provider’s stock after selling 634 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Prudential Financial were worth $418,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PRU. Cambridge Trust Co. grew its position in shares of Prudential Financial by 77.2% in the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after buying an additional 105 shares during the period. Bruce G. Allen Investments LLC bought a new stake in shares of Prudential Financial in the 4th quarter worth approximately $26,000. Headinvest LLC bought a new position in Prudential Financial during the 3rd quarter valued at approximately $27,000. Arlington Trust Co LLC boosted its holdings in Prudential Financial by 151.6% in the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 185 shares in the last quarter. Finally, Janiczek Wealth Management LLC grew its stake in shares of Prudential Financial by 49.6% in the fourth quarter. Janiczek Wealth Management LLC now owns 374 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 124 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other news, SVP Timothy L. Schmidt sold 7,912 shares of Prudential Financial stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $108.13, for a total transaction of $855,524.56. Following the transaction, the senior vice president now directly owns 14,754 shares of the company’s stock, valued at approximately $1,595,350.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Prudential Financial news, SVP Timothy L. Schmidt sold 7,912 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total transaction of $855,524.56. Following the sale, the senior vice president now owns 14,754 shares in the company, valued at approximately $1,595,350.02. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ann M. Kappler sold 7,222 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the completion of the transaction, the executive vice president now owns 24,381 shares of the company’s stock, valued at $2,642,656.59. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,255 shares of company stock valued at $3,215,664. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PRU. Evercore ISI raised their price objective on shares of Prudential Financial from $104.00 to $115.00 and gave the company an “underperform” rating in a research note on Thursday, April 11th. TheStreet raised shares of Prudential Financial from a “c+” rating to an “a-” rating in a research report on Tuesday, February 6th. UBS Group increased their target price on Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Raymond James downgraded Prudential Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, February 9th. Finally, Wells Fargo & Company lifted their price objective on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $111.33.

Prudential Financial Price Performance

NYSE PRU opened at $112.05 on Wednesday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $40.23 billion, a P/E ratio of 16.75, a PEG ratio of 0.76 and a beta of 1.37. The company has a 50-day moving average price of $111.52 and a 200-day moving average price of $103.50. Prudential Financial, Inc. has a 52 week low of $77.22 and a 52 week high of $118.69.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The business had revenue of $13.02 billion for the quarter, compared to analysts’ expectations of $12.99 billion. During the same period in the prior year, the company posted $2.42 earnings per share. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. Equities research analysts anticipate that Prudential Financial, Inc. will post 13.38 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, February 16th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 4.64%. Prudential Financial’s payout ratio is 77.73%.

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.