Sumitomo Mitsui Trust Holdings Inc. Sells 13,021 Shares of Prudential Financial, Inc. (NYSE:PRU)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in Prudential Financial, Inc. (NYSE:PRU) by 1.5% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 864,063 shares of the financial services provider’s stock after selling 13,021 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.24% of Prudential Financial worth $89,612,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Sanctuary Wealth Management L.L.C. purchased a new position in Prudential Financial in the fourth quarter worth about $25,000. Bruce G. Allen Investments LLC purchased a new position in Prudential Financial in the 4th quarter worth approximately $26,000. Headinvest LLC purchased a new position in Prudential Financial in the 3rd quarter worth approximately $27,000. Pacific Center for Financial Services purchased a new position in Prudential Financial in the 1st quarter worth approximately $27,000. Finally, Coppell Advisory Solutions LLC bought a new stake in Prudential Financial in the 2nd quarter worth approximately $28,000. 56.83% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Robert Axel sold 6,436 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the transaction, the senior vice president now owns 7,901 shares in the company, valued at $883,805.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total value of $782,792.58. Following the completion of the sale, the executive vice president now owns 24,381 shares of the company’s stock, valued at $2,642,656.59. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Robert Axel sold 6,436 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total value of $719,930.96. Following the completion of the sale, the senior vice president now directly owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The disclosure for this sale can be found here. Insiders have sold a total of 29,255 shares of company stock worth $3,215,664 over the last quarter. 0.31% of the stock is currently owned by corporate insiders.

Prudential Financial Trading Down 0.2 %

Shares of NYSE:PRU opened at $107.35 on Thursday. The firm has a market capitalization of $38.54 billion, a P/E ratio of 16.05, a P/E/G ratio of 0.73 and a beta of 1.37. The business’s 50-day moving average is $111.20 and its 200 day moving average is $102.90. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial, Inc. has a 1 year low of $77.22 and a 1 year high of $118.69.

Prudential Financial (NYSE:PRU) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $12.99 billion. Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.42 EPS. On average, research analysts predict that Prudential Financial, Inc. will post 13.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.84%. The ex-dividend date of this dividend was Friday, February 16th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.25. Prudential Financial’s dividend payout ratio (DPR) is 77.73%.

Analyst Ratings Changes

PRU has been the topic of a number of research reports. Keefe, Bruyette & Woods lifted their price objective on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Piper Sandler boosted their price objective on Prudential Financial from $114.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Raymond James cut Prudential Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, February 9th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $118.00 target price (down from $119.00) on shares of Prudential Financial in a report on Wednesday, January 3rd. Finally, TheStreet upgraded Prudential Financial from a “c+” rating to an “a-” rating in a report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $111.33.

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.