Charles Schwab Investment Management Inc. Has $288.62 Million Stake in Prudential Financial, Inc. (NYSE:PRU)

Charles Schwab Investment Management Inc. reduced its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,383,311 shares of the financial services provider's stock after selling 8,758 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.67% of Prudential Financial worth $288,619,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PRU. Creekmur Asset Management LLC increased its position in shares of Prudential Financial by 78.8% in the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider's stock worth $29,000 after acquiring an additional 108 shares in the last quarter. Lynx Investment Advisory acquired a new stake in shares of Prudential Financial during the 2nd quarter valued at $29,000. Ashton Thomas Securities LLC purchased a new position in shares of Prudential Financial during the 3rd quarter valued at $31,000. Bank & Trust Co purchased a new stake in shares of Prudential Financial during the second quarter worth $37,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Prudential Financial during the 2nd quarter worth about $38,000. Institutional investors and hedge funds own 56.83% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PRU. Barclays increased their price target on shares of Prudential Financial from $118.00 to $119.00 and gave the stock an "equal weight" rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $121.00 price target on shares of Prudential Financial in a research report on Wednesday, August 21st. TD Cowen started coverage on shares of Prudential Financial in a report on Wednesday, October 9th. They set a "hold" rating and a $130.00 price objective for the company. Argus upgraded shares of Prudential Financial to a "strong-buy" rating in a report on Thursday, August 8th. Finally, Piper Sandler upped their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Eleven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Prudential Financial has an average rating of "Hold" and an average price target of $125.69.

Insider Activity

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares of the company's stock, valued at approximately $1,220,694.75. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the company's stock in a transaction that occurred on Tuesday, October 8th. The shares were bought at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the acquisition, the insider now owns 4,208,549 shares of the company's stock, valued at $116,071,781.42. This trade represents a 6.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.31% of the company's stock.

Prudential Financial Price Performance

Shares of Prudential Financial stock traded up $1.63 during trading on Friday, hitting $127.89. 1,117,397 shares of the company's stock traded hands, compared to its average volume of 1,751,253. Prudential Financial, Inc. has a twelve month low of $94.92 and a twelve month high of $129.13. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market cap of $45.53 billion, a PE ratio of 11.37, a PEG ratio of 0.90 and a beta of 1.29. The firm's fifty day moving average price is $123.30 and its 200 day moving average price is $119.70.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The company had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same period last year, the company posted $3.44 earnings per share. Analysts forecast that Prudential Financial, Inc. will post 13.33 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be given a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.07%. Prudential Financial's payout ratio is 46.22%.

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.