Prudential Financial, Inc. (NYSE:PRU) Stock Holdings Trimmed by BOK Financial Private Wealth Inc.

BOK Financial Private Wealth Inc. reduced its position in Prudential Financial, Inc. (NYSE:PRU) by 25.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,173 shares of the financial services provider’s stock after selling 400 shares during the quarter. BOK Financial Private Wealth Inc.’s holdings in Prudential Financial were worth $138,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cambridge Trust Co. increased its holdings in Prudential Financial by 77.2% in the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after buying an additional 105 shares during the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of Prudential Financial during the fourth quarter valued at approximately $26,000. Headinvest LLC bought a new position in shares of Prudential Financial during the third quarter valued at approximately $27,000. Arlington Trust Co LLC grew its holdings in shares of Prudential Financial by 151.6% during the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 185 shares during the last quarter. Finally, Pineridge Advisors LLC bought a new position in shares of Prudential Financial during the fourth quarter valued at approximately $36,000. 56.83% of the stock is owned by institutional investors.

Prudential Financial Price Performance

Shares of NYSE:PRU traded down $1.71 on Friday, reaching $116.84. 919,690 shares of the company traded hands, compared to its average volume of 1,222,657. The company’s 50 day moving average is $117.02 and its 200-day moving average is $111.35. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial, Inc. has a fifty-two week low of $87.59 and a fifty-two week high of $121.39. The stock has a market capitalization of $41.95 billion, a PE ratio of 19.87, a P/E/G ratio of 0.89 and a beta of 1.34.

Prudential Financial (NYSE:PRU) last announced its earnings results 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 net margin of 3.76% and a return on equity of 15.50%. The firm had revenue of $15.01 billion for the quarter, compared to analyst estimates of $14.50 billion. During the same period last year, the firm earned $2.66 earnings per share. Prudential Financial’s revenue for the quarter was up 69.9% compared to the same quarter last year. As a group, analysts anticipate that Prudential Financial, Inc. will post 13.41 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date was Monday, May 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were acquired at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the purchase, the insider now owns 3,883,390 shares of the company’s stock, valued at approximately $107,065,062.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the stock in a transaction on Thursday, June 20th. The shares were purchased at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the transaction, the insider now directly owns 3,883,390 shares of the company’s stock, valued at approximately $107,065,062.30. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Robert Falzon sold 130,092 shares of the stock in a transaction on 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 transaction, the executive vice president now directly owns 202,083 shares in the company, valued at $23,960,981.31. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PRU. Jefferies Financial Group lowered their target price on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a report on Friday, June 28th. Morgan Stanley boosted their price objective on Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods boosted their price objective on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Piper Sandler reduced their price objective on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Finally, JPMorgan Chase & Co. boosted their price objective on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Prudential Financial has a consensus rating of “Hold” and a consensus target price of $115.92.

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.