Thrive Wealth Management LLC Has $473,000 Holdings in Prudential Financial, Inc. (NYSE:PRU)

Thrive Wealth Management LLC reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 9.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,032 shares of the financial services provider’s stock after selling 420 shares during the quarter. Thrive Wealth Management LLC’s holdings in Prudential Financial were worth $473,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PRU. Cambridge Trust Co. increased its position in shares of Prudential Financial by 77.2% during the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 105 shares during the last quarter. Bruce G. Allen Investments LLC bought a new stake in Prudential Financial in the fourth quarter worth about $26,000. Headinvest LLC purchased a new position in Prudential Financial in the third quarter valued at about $27,000. Arlington Trust Co LLC grew its position in shares of Prudential Financial by 151.6% during the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 185 shares during the period. Finally, Pineridge Advisors LLC bought a new stake in shares of Prudential Financial in the 4th quarter worth approximately $36,000. 56.83% of the stock is owned by institutional investors.

Prudential Financial Trading Up 0.4 %

Shares of PRU stock traded up $0.48 on Friday, hitting $117.81. 43,691 shares of the company’s stock traded hands, compared to its average volume of 1,467,524. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a market capitalization of $42.29 billion, a price-to-earnings ratio of 19.95, a P/E/G ratio of 0.88 and a beta of 1.35. The company’s fifty day simple moving average is $116.08 and its 200 day simple moving average is $110.70. Prudential Financial, Inc. has a one year low of $86.69 and a one year high of $121.39.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The company had revenue of $15.01 billion for the quarter, compared to the consensus estimate of $14.50 billion. During the same quarter in the previous year, the business earned $2.66 earnings per share. Prudential Financial’s revenue was up 69.9% compared to the same quarter last year. Equities analysts forecast that Prudential Financial, Inc. will post 13.41 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $5.20 annualized dividend and a yield of 4.41%. Prudential Financial’s payout ratio is currently 88.44%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PRU. Keefe, Bruyette & Woods boosted their price objective on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Evercore ISI raised their target price on Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research note on Thursday, April 25th. Wells Fargo & Company upped their price target on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research report on Thursday, April 11th. Jefferies Financial Group raised shares of Prudential Financial from a “hold” rating to a “buy” rating and upped their target price for the stock from $121.00 to $143.00 in a report on Wednesday, May 22nd. Finally, Piper Sandler cut their price target on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $115.25.

Insider Buying and Selling at Prudential Financial

In other news, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the sale, the senior vice president now directly owns 12,236 shares in the company, valued at approximately $1,426,472.88. The sale was disclosed in a filing with the SEC, which is available through this link. In other Prudential Financial news, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the sale, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Timothy L. Schmidt sold 5,189 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the completion of the transaction, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Company 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.