Advisors Asset Management Inc. Has $4.27 Million Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Advisors Asset Management Inc. decreased its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 21.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,048 shares of the financial services provider's stock after selling 9,998 shares during the quarter. Advisors Asset Management Inc.'s holdings in Prudential Financial were worth $4,273,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. State Street Corp raised its position in shares of Prudential Financial by 0.3% during the third quarter. State Street Corp now owns 17,007,013 shares of the financial services provider's stock worth $2,059,549,000 after purchasing an additional 49,830 shares during the period. Geode Capital Management LLC raised its holdings in Prudential Financial by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider's stock worth $1,047,872,000 after buying an additional 341,787 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Prudential Financial by 1.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider's stock valued at $370,327,000 after buying an additional 47,561 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Prudential Financial by 0.3% in 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 purchasing an additional 6,938 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Prudential Financial by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,409,521 shares of the financial services provider's stock valued at $285,601,000 after purchasing an additional 26,210 shares during the period. Institutional investors own 56.83% of the company's stock.

Remove Ads

Prudential Financial Stock Performance

Prudential Financial stock traded up $1.08 during trading hours on Tuesday, reaching $114.32. 1,820,053 shares of the company were exchanged, compared to its average volume of 1,433,213. Prudential Financial, Inc. has a 12 month low of $104.45 and a 12 month high of $130.55. The firm has a market cap of $40.93 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 0.98 and a beta of 1.28. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average of $113.51 and a 200 day moving average of $119.00.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. As a group, research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a dividend of $1.35 per share. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 annualized dividend and a yield of 4.72%. Prudential Financial's dividend payout ratio is presently 72.29%.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were bought at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the transaction, the insider now directly owns 87,047 shares of the company's stock, valued at approximately $2,499,989.84. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the company'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 transaction, the executive vice president now directly owns 27,072 shares of the company's stock, valued at $2,869,090.56. This represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company's stock.

Wall Street Analysts Forecast Growth

PRU has been the topic of a number of research analyst reports. Jefferies Financial Group lifted their price target on Prudential Financial from $149.00 to $152.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Barclays upped their target price on Prudential Financial from $128.00 to $134.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. Keefe, Bruyette & Woods decreased their price target on shares of Prudential Financial from $129.00 to $125.00 and set a "market perform" rating for the company in a report on Wednesday, February 12th. Morgan Stanley dropped their price objective on shares of Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Finally, Piper Sandler decreased their target price on shares of Prudential Financial from $127.00 to $124.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Prudential Financial presently has a consensus rating of "Hold" and an average price target of $126.15.

About Prudential Financial

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.