Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Webster Bank N. A.

Webster Bank N. A. lifted its stake in Prudential Financial, Inc. (NYSE:PRUFree Report) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,813 shares of the financial services provider’s stock after buying an additional 295 shares during the period. Webster Bank N. A.’s holdings in Prudential Financial were worth $1,536,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PRU. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Prudential Financial in the fourth quarter worth about $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Prudential Financial in the fourth quarter worth about $26,000. Headinvest LLC purchased a new stake in shares of Prudential Financial in the third quarter worth about $27,000. Pacific Center for Financial Services purchased a new position in Prudential Financial in the first quarter valued at about $27,000. Finally, Coppell Advisory Solutions LLC purchased a new position in Prudential Financial in the second quarter valued at about $28,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

In related news, EVP Andrew F. Sullivan sold 7,685 shares of Prudential Financial stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total transaction of $857,415.45. Following the sale, the executive vice president now directly owns 13,691 shares of the company’s stock, valued at $1,527,504.87. The transaction was disclosed in a document filed 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 dated Thursday, February 29th. The shares were sold at an average price of $108.13, for a total transaction of $855,524.56. Following the completion of the transaction, the senior vice president now owns 14,754 shares in the company, valued at $1,595,350.02. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Andrew F. Sullivan sold 7,685 shares of Prudential Financial stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total transaction of $857,415.45. Following the completion of the transaction, the executive vice president now owns 13,691 shares of the company’s stock, valued at approximately $1,527,504.87. The disclosure for this sale can be found here. Insiders have sold a total of 29,255 shares of company stock valued at $3,215,664 over the last three months. 0.31% of the stock is owned by corporate insiders.

Prudential Financial Price Performance

PRU opened at $116.92 on Thursday. The stock has a fifty day moving average of $109.59 and a 200-day moving average of $101.73. The firm has a market capitalization of $41.97 billion, a P/E ratio of 17.48, a PEG ratio of 0.85 and a beta of 1.37. Prudential Financial, Inc. has a 12-month low of $77.22 and a 12-month high of $117.92. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRUGet Free Report) last released its earnings results on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). The business had revenue of $13.02 billion during the quarter, compared to analysts’ expectations of $12.99 billion. Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. Prudential Financial’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.42 EPS. Equities analysts forecast that Prudential Financial, Inc. will post 13.4 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company 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 was Friday, February 16th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a yield of 4.45%. Prudential Financial’s dividend payout ratio (DPR) is 77.73%.

Analysts Set New Price Targets

A number of brokerages recently commented on PRU. TheStreet raised Prudential Financial from a “c+” rating to an “a-” rating in a report on Tuesday, February 6th. UBS Group increased their price target on Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Raymond James cut Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. restated a “neutral” rating and set a $118.00 price objective (down previously from $119.00) on shares of Prudential Financial in a research note on Wednesday, January 3rd. Finally, Morgan Stanley upped their price objective on Prudential Financial from $105.00 to $109.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating and ten have given a hold rating to the stock. According to MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and an average target price of $105.60.

Read Our Latest Stock Analysis on PRU

About Prudential Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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