First United Bank Trust Has $1.61 Million Stake in Prudential Financial Inc (PRU)
First United Bank Trust trimmed its stake in Prudential Financial Inc (NYSE:PRU) by 0.7% in the first quarter, Holdings Channel reports. The fund owned 17,508 shares of the financial services provider’s stock after selling 125 shares during the quarter. First United Bank Trust’s holdings in Prudential Financial were worth $1,609,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norway Savings Bank boosted its position in shares of Prudential Financial by 13.6% in the fourth quarter. Norway Savings Bank now owns 958 shares of the financial services provider’s stock worth $78,000 after buying an additional 115 shares during the period. Van ECK Associates Corp boosted its holdings in Prudential Financial by 2.0% in the fourth quarter. Van ECK Associates Corp now owns 6,223 shares of the financial services provider’s stock valued at $507,000 after purchasing an additional 120 shares during the last quarter. Garland Capital Management Inc. boosted its holdings in Prudential Financial by 0.3% in the fourth quarter. Garland Capital Management Inc. now owns 48,625 shares of the financial services provider’s stock valued at $3,965,000 after purchasing an additional 125 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in Prudential Financial by 2.0% in the fourth quarter. Stratos Wealth Partners LTD. now owns 7,096 shares of the financial services provider’s stock valued at $579,000 after purchasing an additional 137 shares during the last quarter. Finally, Kaizen Advisory LLC boosted its holdings in Prudential Financial by 13.7% in the fourth quarter. Kaizen Advisory LLC now owns 1,147 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 138 shares during the last quarter. 65.57% of the stock is owned by institutional investors.
A number of brokerages recently commented on PRU. Zacks Investment Research raised Prudential Financial from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. UBS Group upped their price objective on Prudential Financial from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday. Wells Fargo & Co initiated coverage on Prudential Financial in a research note on Tuesday, January 8th. They set an “outperform” rating and a $105.00 price objective on the stock. Evercore ISI upgraded Prudential Financial from an “in-line” rating to an “outperform” rating and set a $85.50 price objective on the stock in a research note on Wednesday, January 9th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $115.00 price objective on shares of Prudential Financial in a research note on Monday, December 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $112.96.
Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, February 6th. The financial services provider reported $2.44 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.44). Prudential Financial had a net margin of 7.01% and a return on equity of 10.20%. The business had revenue of $17.78 billion during the quarter, compared to analyst estimates of $14.03 billion. During the same quarter in the prior year, the business earned $2.69 earnings per share. Sell-side analysts predict that Prudential Financial Inc will post 12.67 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Wednesday, February 20th were given a $1.00 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 4.01%. The ex-dividend date was Tuesday, February 19th. Prudential Financial’s dividend payout ratio (DPR) is currently 34.22%.
In other news, insider Nicholas C. Silitch sold 13,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $95.25, for a total transaction of $1,238,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Pelletier sold 26,006 shares of the firm’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $94.04, for a total value of $2,445,604.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,538 shares of company stock worth $4,298,777. 0.76% of the stock is owned by insiders.
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Prudential Financial Company Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
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