Chevy Chase Trust Holdings LLC Sells 4,604 Shares of Prudential Financial, Inc. (NYSE:PRU)

Chevy Chase Trust Holdings LLC reduced its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 186,936 shares of the financial services provider's stock after selling 4,604 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Prudential Financial worth $22,158,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA increased its stake in Prudential Financial by 7.4% during the third quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider's stock worth $2,176,000 after acquiring an additional 1,234 shares during the last quarter. Avanza Fonder AB acquired a new stake in shares of Prudential Financial in the fourth quarter valued at about $3,423,000. Gateway Investment Advisers LLC grew its stake in shares of Prudential Financial by 56.1% in the fourth quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider's stock valued at $2,607,000 after buying an additional 7,907 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Prudential Financial by 3.9% in the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider's stock valued at $50,830,000 after buying an additional 15,695 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Prudential Financial by 2.3% in the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider's stock valued at $9,597,000 after buying an additional 1,765 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Price Performance

Shares of PRU stock traded down $0.20 during mid-day trading on Wednesday, hitting $111.59. 1,438,962 shares of the stock traded hands, compared to its average volume of 1,703,684. Prudential Financial, Inc. has a twelve month low of $104.44 and a twelve month high of $130.55. The firm has a market cap of $39.95 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 0.99 and a beta of 1.31. The company's 50-day simple moving average is $117.46 and its 200-day simple moving average is $119.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU - Get Free Report) last issued 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, equities research analysts expect that Prudential Financial, Inc. will post 14.34 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be 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 is Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a yield of 4.84%. Prudential Financial's dividend payout ratio (DPR) is presently 69.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays raised their price objective on Prudential Financial from $128.00 to $134.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Piper Sandler lowered their price objective on Prudential Financial from $127.00 to $124.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Wells Fargo & Company raised their price objective on Prudential Financial from $113.00 to $118.00 and gave the company an "equal weight" rating in a research note on Wednesday. Evercore ISI raised Prudential Financial from an "underperform" rating to an "inline" rating and increased their target price for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Finally, TD Cowen increased their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a "hold" rating in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Prudential Financial currently has a consensus rating of "Hold" and a consensus price target of $125.69.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of Prudential Financial stock in a transaction on Monday, November 25th. The stock was bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the transaction, the insider now directly owns 4,780,293 shares of the company's stock, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.34% of the company's stock.

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.