Heritage Wealth Advisors Sells 1,186 Shares of Prudential Financial, Inc. (NYSE:PRU)

Heritage Wealth Advisors trimmed its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 65.5% during the first quarter, HoldingsChannel reports. The fund owned 625 shares of the financial services provider’s stock after selling 1,186 shares during the period. Heritage Wealth Advisors’ holdings in Prudential Financial were worth $73,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its holdings in shares of Prudential Financial by 25.0% in the first quarter. Russell Investments Group Ltd. now owns 180,555 shares of the financial services provider’s stock valued at $21,171,000 after purchasing an additional 36,159 shares in the last quarter. QRG Capital Management Inc. lifted its stake in Prudential Financial by 5.2% in the 1st quarter. QRG Capital Management Inc. now owns 14,876 shares of the financial services provider’s stock valued at $1,746,000 after acquiring an additional 737 shares in the last quarter. Verus Capital Partners LLC acquired a new position in Prudential Financial during the 1st quarter worth approximately $201,000. NorthRock Partners LLC grew its stake in shares of Prudential Financial by 45.1% during the 1st quarter. NorthRock Partners LLC now owns 5,330 shares of the financial services provider’s stock worth $626,000 after acquiring an additional 1,657 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Prudential Financial by 12.9% in the first quarter. Sei Investments Co. now owns 57,853 shares of the financial services provider’s stock valued at $6,791,000 after purchasing an additional 6,609 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the stock in a transaction dated Thursday, June 20th. The shares were bought at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the acquisition, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were bought at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the transaction, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert Falzon sold 130,092 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the sale, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PRU. Piper Sandler lowered their price target on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. JPMorgan Chase & Co. lifted their target price on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Evercore ISI increased their price target on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research report on Thursday, April 25th. Wells Fargo & Company upped their price objective on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research note on Thursday, April 11th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Prudential Financial from $118.00 to $121.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $116.67.

Prudential Financial Stock Performance

Shares of PRU traded up $0.80 during trading hours on Wednesday, hitting $127.32. The company had a trading volume of 1,359,734 shares, compared to its average volume of 1,458,323. The firm has a market cap of $45.71 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 0.96 and a beta of 1.34. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. The business has a fifty day moving average of $118.30 and a 200-day moving average of $112.36. Prudential Financial, Inc. has a 12 month low of $87.95 and a 12 month high of $128.52.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The company had revenue of $15.01 billion for the quarter, compared to analyst estimates of $14.50 billion. During the same quarter last year, the business earned $2.66 earnings per share. The company’s revenue was up 69.9% on a year-over-year basis. Equities analysts anticipate that Prudential Financial, Inc. will post 13.39 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.08%. The ex-dividend date was Monday, May 20th. Prudential Financial’s payout ratio is 88.44%.

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.