Coldstream Capital Management Inc. Sells 1,373 Shares of Prudential Financial, Inc. (NYSE:PRU)

by · The Markets Daily

Coldstream Capital Management Inc. lowered its stake in Prudential Financial, Inc. (NYSE:PRU – Free Report) by 11.7% in the fourth quarter, Holdings Channel reports. The fund owned 10,349 shares of the financial services provider’s stock after selling 1,373 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Prudential Financial were worth $1,227,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PRU. Vanguard Group Inc. boosted its position in Prudential Financial by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider’s stock valued at $4,960,547,000 after buying an additional 220,671 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Prudential Financial by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 8,856,360 shares of the financial services provider’s stock valued at $1,050,635,000 after acquiring an additional 193,681 shares in the last quarter. Bank of New York Mellon Corp grew its position in Prudential Financial by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,454,278 shares of the financial services provider’s stock worth $290,906,000 after acquiring an additional 6,938 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Prudential Financial by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,409,521 shares of the financial services provider’s stock worth $285,601,000 after purchasing an additional 26,210 shares in the last quarter. Finally, Amundi raised its position in Prudential Financial by 32.7% in the fourth quarter. Amundi now owns 1,535,514 shares of the financial services provider’s stock valued at $181,851,000 after purchasing an additional 378,266 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Prudential Financial

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the sale, the executive vice president now directly owns 27,072 shares of the company’s stock, valued at $2,869,090.56. The trade was a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the transaction, the insider now owns 87,047 shares in the company, valued at $2,499,989.84. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by corporate insiders.

Prudential Financial Trading Down 1.1 %

Shares of PRU stock opened at $102.85 on Monday. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a 50 day simple moving average of $106.64 and a two-hundred day simple moving average of $116.14. The company has a market cap of $36.45 billion, a P/E ratio of 13.77, a PEG ratio of 0.98 and a beta of 1.11.

Prudential Financial (NYSE:PRU – Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Research analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 5.25%. Prudential Financial’s dividend payout ratio (DPR) is currently 72.29%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Morgan Stanley lowered their price objective on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Barclays decreased their price target on shares of Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. BMO Capital Markets initiated coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price target on the stock. Piper Sandler decreased their price objective on Prudential Financial from $122.00 to $110.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Finally, UBS Group cut their target price on Prudential Financial from $130.00 to $122.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $121.85.

View Our Latest Stock Analysis on Prudential Financial

Prudential Financial 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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