Alps Advisors Inc. Sells 15,061 Shares of Prudential Financial, Inc. $PRU

Alps Advisors Inc. reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 214,447 shares of the financial services provider’s stock after selling 15,061 shares during the period. Alps Advisors Inc.’s holdings in Prudential Financial were worth $24,207,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PRU. Sunflower Bank N.A. lifted its stake in Prudential Financial by 3.2% in the fourth quarter. Sunflower Bank N.A. now owns 2,911 shares of the financial services provider’s stock worth $329,000 after acquiring an additional 91 shares during the last quarter. Wetzel Investment Advisors Inc. lifted its stake in Prudential Financial by 0.9% in the fourth quarter. Wetzel Investment Advisors Inc. now owns 10,022 shares of the financial services provider’s stock worth $1,131,000 after acquiring an additional 94 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in Prudential Financial by 0.3% in the third quarter. CIBC Private Wealth Group LLC now owns 28,795 shares of the financial services provider’s stock worth $2,987,000 after acquiring an additional 97 shares during the last quarter. Transcend Capital Advisors LLC lifted its stake in Prudential Financial by 2.4% in the fourth quarter. Transcend Capital Advisors LLC now owns 4,175 shares of the financial services provider’s stock worth $471,000 after acquiring an additional 98 shares during the last quarter. Finally, Mindset Wealth Management LLC lifted its stake in Prudential Financial by 2.1% in the third quarter. Mindset Wealth Management LLC now owns 4,781 shares of the financial services provider’s stock worth $496,000 after acquiring an additional 100 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Stock Up 1.3%

PRU stock opened at $106.52 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $119.76. The company’s 50 day moving average is $100.32 and its two-hundred day moving average is $104.32. The stock has a market cap of $36.96 billion, a P/E ratio of 10.96, a PEG ratio of 1.91 and a beta of 0.86.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. The company had revenue of $15.23 billion for the quarter, compared to analysts’ expectations of $14.10 billion. During the same quarter last year, the company earned $3.29 earnings per share. Research analysts expect that Prudential Financial, Inc. will post 13.84 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $5.60 dividend on an annualized basis and a yield of 5.3%. Prudential Financial’s dividend payout ratio (DPR) is presently 57.61%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Prudential Financial from $93.00 to $100.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 12th. Keefe, Bruyette & Woods lifted their price target on shares of Prudential Financial from $100.00 to $106.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Jefferies Financial Group downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating and decreased their price target for the stock from $124.00 to $98.00 in a research note on Wednesday, April 22nd. Weiss Ratings downgraded shares of Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Finally, Piper Sandler lifted their price target on shares of Prudential Financial from $99.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Ten investment analysts have rated the stock with a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $101.50.

Prudential Financial Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.