Aviva PLC Reduces Holdings in Prudential Financial, Inc. (NYSE:PRU)

Aviva PLC lessened its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 4.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 452,464 shares of the financial services provider's stock after selling 20,404 shares during the period. Aviva PLC owned about 0.13% of Prudential Financial worth $53,631,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Savant Capital LLC boosted its holdings in Prudential Financial by 0.6% during the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider's stock worth $1,705,000 after purchasing an additional 83 shares during the last quarter. Grove Bank & Trust lifted its holdings in Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock worth $26,000 after acquiring an additional 87 shares during the period. HBK Sorce Advisory LLC boosted its position in Prudential Financial by 1.0% in the fourth quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider's stock worth $1,116,000 after purchasing an additional 91 shares during the last quarter. Asset Dedication LLC raised its stake in shares of Prudential Financial by 28.4% during the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider's stock worth $50,000 after purchasing an additional 93 shares during the period. Finally, RNC Capital Management LLC boosted its holdings in shares of Prudential Financial by 3.3% in the 4th quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider's stock worth $354,000 after buying an additional 95 shares during the last quarter. Institutional investors own 56.83% of the company's stock.

Analysts Set New Price Targets

PRU has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reduced their target price on shares of Prudential Financial from $125.00 to $120.00 and set a "market perform" rating for the company in a research report on Wednesday. Morgan Stanley reduced their price objective on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. Wells Fargo & Company dropped their price target on Prudential Financial from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research report on Thursday. Piper Sandler decreased their price objective on Prudential Financial from $124.00 to $122.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $124.92.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of Prudential Financial stock in a transaction dated Tuesday, March 25th. The shares were purchased at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the transaction, the insider now owns 139,987 shares of the company's stock, valued at $3,992,429.24. This trade represents a 60.18 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the sale, the executive vice president now owns 27,072 shares of the company's stock, valued at $2,869,090.56. The trade was 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.

Prudential Financial Price Performance

NYSE:PRU traded down $1.03 during trading hours on Friday, hitting $97.45. The stock had a trading volume of 931,361 shares, compared to its average volume of 1,591,055. The company has a 50 day simple moving average of $109.36 and a two-hundred day simple moving average of $117.72. The firm has a market capitalization of $34.54 billion, a price-to-earnings ratio of 13.03, a P/E/G ratio of 0.98 and a beta of 1.11. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55.

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

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date was Tuesday, February 18th. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's payout ratio is currently 72.29%.

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.