Bank of Montreal Can Reduces Holdings in Prudential Financial, Inc. (NYSE:PRU)

Bank of Montreal Can trimmed its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 7.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 663,212 shares of the financial services provider's stock after selling 51,858 shares during the period. Bank of Montreal Can owned about 0.19% of Prudential Financial worth $78,611,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PRU. Vanguard Group Inc. boosted its holdings in shares of Prudential Financial by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider's stock worth $4,960,547,000 after acquiring an additional 220,671 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Prudential Financial by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 8,856,360 shares of the financial services provider's stock valued at $1,050,635,000 after buying an additional 193,681 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Prudential Financial by 0.3% during 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 buying an additional 6,938 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 worth $285,601,000 after acquiring an additional 26,210 shares during the last quarter. Finally, Amundi raised its stake in shares of Prudential Financial by 32.7% in the fourth quarter. Amundi now owns 1,535,514 shares of the financial services provider's stock worth $181,851,000 after acquiring an additional 378,266 shares during the last quarter. Institutional investors own 56.83% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. BMO Capital Markets began coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price target for the company. Piper Sandler dropped their target price on Prudential Financial from $124.00 to $122.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their price target on Prudential Financial from $125.00 to $120.00 and set a "market perform" rating on the stock in a report on Wednesday, April 9th. JPMorgan Chase & Co. dropped their target price on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Finally, Morgan Stanley decreased their price target on shares of Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $122.77.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the completion of the transaction, the insider now directly owns 87,047 shares of the company's stock, valued at approximately $2,499,989.84. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the executive vice president now directly 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. Company insiders own 0.31% of the company's stock.

Prudential Financial Stock Performance

NYSE PRU traded up $2.82 during trading hours on Monday, reaching $101.65. 315,416 shares of the company were exchanged, compared to its average volume of 1,591,887. The business's 50 day simple moving average is $108.98 and its 200-day simple moving average is $117.56. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The stock has a market capitalization of $36.03 billion, a P/E ratio of 13.61, a P/E/G ratio of 0.98 and a beta of 1.11. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data 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 net margin of 4.01% and a return on equity of 15.86%. On average, equities research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date was Tuesday, February 18th. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's dividend payout ratio (DPR) is 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.