Brandywine Global Investment Management LLC Sells 203,320 Shares of Prudential Financial, Inc. (NYSE:PRU)

Brandywine Global Investment Management LLC cut its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 51.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 194,837 shares of the financial services provider's stock after selling 203,320 shares during the quarter. Brandywine Global Investment Management LLC owned 0.05% of Prudential Financial worth $23,094,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd bought a new stake in Prudential Financial during the 3rd quarter worth approximately $283,000. FMR LLC lifted its holdings in shares of Prudential Financial by 31.3% during the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider's stock worth $174,903,000 after purchasing an additional 344,254 shares during the period. Freedom Investment Management Inc. grew its stake in shares of Prudential Financial by 14.0% in the third quarter. Freedom Investment Management Inc. now owns 3,478 shares of the financial services provider's stock worth $421,000 after purchasing an additional 427 shares during the last quarter. Glenmede Trust Co. NA raised its position in Prudential Financial by 7.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider's stock worth $2,176,000 after purchasing an additional 1,234 shares during the last quarter. Finally, Fiduciary Trust Co acquired a new position in Prudential Financial during the 3rd quarter worth about $252,000. Institutional investors own 56.83% of the company's stock.

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Prudential Financial Stock Down 6.2 %

PRU stock traded down $6.97 during midday trading on Thursday, reaching $105.74. 1,342,718 shares of the company's stock traded hands, compared to its average volume of 1,543,042. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm's fifty day moving average price is $112.69 and its 200-day moving average price is $118.87. Prudential Financial, Inc. has a 52 week low of $104.45 and a 52 week high of $130.55. The company has a market cap of $37.85 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 0.98 and a beta of 1.28.

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%. As a group, sell-side 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 announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were given a dividend of $1.35 per share. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 5.11%. Prudential Financial's payout ratio is presently 72.29%.

Insider Buying and Selling

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were 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 in the company, valued at $2,869,090.56. This represents a 18.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the acquisition, the insider now owns 87,047 shares of the company's stock, valued at $2,499,989.84. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. BMO Capital Markets assumed coverage on Prudential Financial in a research report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price objective for the company. Jefferies Financial Group boosted their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. lowered 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 note on Wednesday. Piper Sandler cut their price target on shares of Prudential Financial from $124.00 to $122.00 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, UBS Group cut their target price on Prudential Financial from $130.00 to $122.00 and set a "neutral" rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Prudential Financial has an average rating of "Hold" and a consensus target price of $126.08.

Prudential Financial 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.