Foundations Investment Advisors LLC Sells 130 Shares of Prudential Financial, Inc. (NYSE:PRU)

Foundations Investment Advisors LLC reduced its holdings in shares of Prudential Financial, Inc. (NYSE:PRUFree Report) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,101 shares of the financial services provider’s stock after selling 130 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Prudential Financial were worth $421,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Choreo LLC increased its holdings in Prudential Financial by 163.5% during the 4th quarter. Choreo LLC now owns 6,940 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 4,306 shares in the last quarter. FMR LLC raised its position in Prudential Financial by 2.9% in the 3rd quarter. FMR LLC now owns 1,315,215 shares of the financial services provider’s stock valued at $124,801,000 after buying an additional 36,599 shares during the last quarter. Arvest Investments Inc. bought a new position in Prudential Financial during the 4th quarter valued at $2,112,000. Tyche Wealth Partners LLC purchased a new position in Prudential Financial during the 4th quarter worth $815,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Prudential Financial by 14.5% in the third quarter. Victory Capital Management Inc. now owns 268,728 shares of the financial services provider’s stock valued at $25,500,000 after purchasing an additional 34,054 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $121.31 on Friday. The stock has a fifty day moving average of $114.05 and a 200-day moving average of $106.30. The stock has a market cap of $43.55 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 0.91 and a beta of 1.35. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a fifty-two week low of $78.40 and a fifty-two week high of $121.39.

Prudential Financial (NYSE:PRUGet Free Report) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The company had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. During the same period in the previous year, the firm earned $2.66 EPS. The firm’s quarterly revenue was up 69.9% compared to the same quarter last year. Equities research analysts anticipate that Prudential Financial, Inc. will post 13.42 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.29%. The ex-dividend date is Monday, May 20th. Prudential Financial’s payout ratio is 88.44%.

Insider Transactions at Prudential Financial

In related news, EVP Robert Falzon sold 130,092 shares of the business’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 completion of the transaction, the executive vice president now directly owns 202,083 shares in the company, valued at $23,960,981.31. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Prudential Financial news, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the completion of the sale, the executive vice president now directly owns 202,083 shares in the company, valued at $23,960,981.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Timothy L. Schmidt sold 5,189 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total transaction of $604,933.62. Following the completion of the transaction, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 164,536 shares of company stock valued at $19,245,606. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of recent analyst reports. Piper Sandler reduced their price objective on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. 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 company an “underweight” rating in a research note on Thursday, April 11th. TheStreet upgraded Prudential Financial from a “c+” rating to an “a-” rating in a research note on Tuesday, February 6th. Finally, Raymond James lowered shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to MarketBeat, Prudential Financial has a consensus rating of “Hold” and an average price target of $111.08.

Check Out Our Latest Stock Analysis on PRU

Prudential Financial Company Profile

(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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