United Community Bank Sells 15,258 Shares of Prudential Financial, Inc. (NYSE:PRU)

United Community Bank lowered its stake in Prudential Financial, Inc. (NYSE:PRU) by 97.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 360 shares of the financial services provider’s stock after selling 15,258 shares during the quarter. United Community Bank’s holdings in Prudential Financial were worth $43,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp raised its holdings in Prudential Financial by 49.5% in the 3rd quarter. Van ECK Associates Corp now owns 17,600 shares of the financial services provider’s stock valued at $2,203,000 after buying an additional 5,825 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Prudential Financial by 3.9% in 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 buying an additional 15,695 shares during the last quarter. CWA Asset Management Group LLC bought a new position in Prudential Financial in the 3rd quarter valued at approximately $385,000. Verdence Capital Advisors LLC increased its position in Prudential Financial by 4.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 2,555 shares of the financial services provider’s stock valued at $309,000 after purchasing an additional 102 shares during the period. Finally, Tompkins Financial Corp increased its position in Prudential Financial by 61.7% during the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 140 shares during the period. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

NYSE PRU opened at $111.35 on Monday. The company has a fifty day simple moving average of $115.53 and a 200 day simple moving average of $119.78. Prudential Financial, Inc. has a 12-month low of $104.44 and a 12-month high of $130.55. 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 $39.86 billion, a P/E ratio of 14.91, a PEG ratio of 0.98 and a beta of 1.28.

Prudential Financial (NYSE:PRU) last posted its quarterly 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 net margin of 4.01% and a return on equity of 15.86%. Sell-side analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.85%. Prudential Financial’s dividend payout ratio (DPR) is 72.29%.

Analyst Ratings Changes

PRU has been the subject of a number of recent analyst reports. Jefferies Financial Group increased their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Piper Sandler decreased their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price for the company. Wells Fargo & Company increased their target price 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. Finally, Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and increased their target price for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Prudential Financial has a consensus rating of “Hold” and an average target price of $126.15.

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.