Corient Private Wealth LLC Sells 18,662 Shares of Prudential Financial, Inc. (NYSE:PRU)

Corient Private Wealth LLC decreased its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 17.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 87,110 shares of the financial services provider's stock after selling 18,662 shares during the quarter. Corient Private Wealth LLC's holdings in Prudential Financial were worth $10,230,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Glenmede Trust Co. NA raised its position in shares of 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 bought a new stake in shares of Prudential Financial during the fourth quarter worth $3,423,000. Gateway Investment Advisers LLC raised its position in shares of Prudential Financial by 56.1% during the fourth quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider's stock worth $2,607,000 after acquiring an additional 7,907 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Prudential Financial by 3.9% during the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider's stock worth $50,830,000 after acquiring an additional 15,695 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Prudential Financial by 2.3% during the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider's stock worth $9,597,000 after acquiring an additional 1,765 shares during the last quarter. Institutional investors own 56.83% of the company's stock.

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Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost 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 approximately $2,499,989.84. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business's stock in a transaction that occurred on 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 transaction, the executive vice president now owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. The trade was a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PRU. BMO Capital Markets began coverage on Prudential Financial in a research note on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price objective for the company. Piper Sandler decreased 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. Keefe, Bruyette & Woods decreased their target price on Prudential Financial from $129.00 to $125.00 and set a "market perform" rating for the company in a research note on Wednesday, February 12th. Morgan Stanley decreased their target price on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Finally, Jefferies Financial Group boosted their target price on Prudential Financial from $149.00 to $152.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $126.15.

Prudential Financial Stock Down 0.4 %

PRU traded down $0.43 during midday trading on Friday, reaching $110.35. 3,274,047 shares of the company were exchanged, compared to its average volume of 1,432,523. The company has a market cap of $39.51 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The company's fifty day moving average price is $113.57 and its 200 day moving average price is $119.04. Prudential Financial, Inc. has a one year low of $104.45 and a one year high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share 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%. As a group, analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's dividend payout ratio is currently 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.