Accel Wealth Management Sells 4,702 Shares of Prudential Financial, Inc. (NYSE:PRU)

Accel Wealth Management trimmed its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 32.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 9,942 shares of the financial services provider’s stock after selling 4,702 shares during the quarter. Accel Wealth Management’s holdings in Prudential Financial were worth $1,178,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Grove Bank & Trust boosted its stake in shares of Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Prudential Financial in the third quarter valued at about $31,000. Quarry LP grew its stake in shares of Prudential Financial by 376.3% during the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 222 shares during the period. Retirement Wealth Solutions LLC purchased a new stake in shares of Prudential Financial during the 4th quarter valued at about $37,000. Finally, Tompkins Financial Corp lifted its stake in shares of Prudential Financial by 61.7% in the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 140 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on PRU. Piper Sandler dropped their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Jefferies Financial Group lifted their target price on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Barclays upped their price target on Prudential Financial from $127.00 to $128.00 and gave the stock an “equal weight” rating in a research report on Thursday. Bank of America lifted their price objective on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company reduced their target price on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $125.31.

Prudential Financial Stock Up 0.3 %

Shares of PRU stock opened at $117.22 on Friday. The company’s fifty day simple moving average is $121.29 and its two-hundred day simple moving average is $120.66. Prudential Financial, Inc. has a 52 week low of $100.60 and a 52 week high of $130.55. The stock has a market cap of $41.73 billion, a P/E ratio of 10.42, a PEG ratio of 1.09 and a beta of 1.31. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period in the previous year, the business earned $3.44 earnings per share. Analysts predict that Prudential Financial, Inc. will post 13.24 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the transaction, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.31% of the stock is currently owned by company insiders.

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.