AustralianSuper Pty Ltd Sells 25,063 Shares of Prudential Financial, Inc. (NYSE:PRU)

AustralianSuper Pty Ltd cut its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,240,933 shares of the financial services provider's stock after selling 25,063 shares during the quarter. AustralianSuper Pty Ltd owned approximately 0.35% of Prudential Financial worth $147,088,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Grove Bank & Trust lifted its stake in shares of Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 87 shares during the period. Ashton Thomas Securities LLC acquired a new position in Prudential Financial during the 3rd quarter valued at about $31,000. CGC Financial Services LLC boosted its stake in shares of Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in shares of Prudential Financial during the 4th quarter worth approximately $33,000. Finally, Quarry LP raised its stake in shares of Prudential Financial by 376.3% during the third quarter. Quarry LP now owns 281 shares of the financial services provider's stock worth $34,000 after buying an additional 222 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the acquisition, the insider now owns 4,780,293 shares of the company's stock, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.34% of the company's stock.

Prudential Financial Stock Down 0.2 %

Shares of PRU stock traded down $0.20 during trading hours on Wednesday, hitting $111.59. 1,475,382 shares of the company were exchanged, compared to its average volume of 1,705,937. Prudential Financial, Inc. has a 52 week low of $104.44 and a 52 week high of $130.55. 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 business has a 50 day moving average of $117.46 and a two-hundred day moving average of $119.71. The company has a market capitalization of $39.95 billion, a PE ratio of 14.94, a PEG ratio of 0.99 and a beta of 1.31.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) 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%. Analysts anticipate that Prudential Financial, Inc. will post 14.34 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be given a dividend of $1.35 per share. The ex-dividend date is Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a yield of 4.84%. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's dividend payout ratio is 69.61%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PRU. Wells Fargo & Company lifted their target price on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an "equal weight" rating in a report on Wednesday. TD Cowen lifted their price objective on Prudential Financial from $130.00 to $133.00 and gave the stock a "hold" rating in a research note on Wednesday, November 27th. BMO Capital Markets assumed coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 target price on the stock. Barclays boosted their target price on Prudential Financial from $128.00 to $134.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. Finally, Piper Sandler cut 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 report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $125.69.

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.