Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC grew its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 4.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 136,175 shares of the financial services provider's stock after acquiring an additional 5,397 shares during the quarter. Cerity Partners LLC's holdings in Prudential Financial were worth $16,189,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PRU. Norges Bank acquired a new stake in shares of Prudential Financial during the fourth quarter worth $115,878,000. Nordea Investment Management AB raised its position in Prudential Financial by 176.8% in the fourth quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider's stock valued at $123,804,000 after purchasing an additional 665,180 shares during the period. Raymond James Financial Inc. acquired a new stake in Prudential Financial during the 4th quarter worth approximately $76,303,000. Amundi grew its stake in shares of Prudential Financial by 32.7% during the fourth quarter. Amundi now owns 1,535,514 shares of the financial services provider's stock worth $181,851,000 after purchasing an additional 378,266 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Prudential Financial by 4.1% in the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider's stock valued at $1,047,872,000 after buying an additional 341,787 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PRU has been the subject of several recent research reports. Keefe, Bruyette & Woods dropped their price target on Prudential Financial from $125.00 to $120.00 and set a "market perform" rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. decreased their price target on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Piper Sandler dropped their price target on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research note on Tuesday. Wells Fargo & Company reduced their price objective on shares of Prudential Financial from $118.00 to $108.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Finally, UBS Group reduced their target price on Prudential Financial from $130.00 to $122.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. One equities 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 given a strong buy rating to the stock. According to data from MarketBeat, Prudential Financial has a consensus rating of "Hold" and an average target price of $121.85.

Prudential Financial Stock Down 0.1 %

Shares of PRU stock traded down $0.06 during mid-day trading on Tuesday, hitting $101.37. 501,825 shares of the stock traded hands, compared to its average volume of 1,592,793. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market cap of $35.93 billion, a P/E ratio of 13.57, a P/E/G ratio of 0.98 and a beta of 1.11. The stock's fifty day moving average is $108.73 and its two-hundred day moving average is $117.42. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly 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%. Equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a $1.35 dividend. The ex-dividend date was Tuesday, February 18th. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.33%. Prudential Financial's payout ratio is presently 72.29%.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 bought at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the transaction, the insider now directly owns 139,987 shares in the company, valued at approximately $3,992,429.24. The trade was a 60.18 % increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by corporate insiders.

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.