Dimensional Fund Advisors LP Has $480.07 Million Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Dimensional Fund Advisors LP lessened its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,050,234 shares of the financial services provider's stock after selling 140,217 shares during the period. Dimensional Fund Advisors LP owned 1.14% of Prudential Financial worth $480,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Grove Bank & Trust increased its holdings in shares of Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 87 shares during the period. Centricity Wealth Management LLC acquired a new position in Prudential Financial in the 4th quarter valued at about $29,000. CGC Financial Services LLC raised its stake in Prudential Financial by 82.1% during the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in shares of Prudential Financial during the fourth quarter worth $33,000. Finally, Hopwood Financial Services Inc. acquired a new stake in shares of Prudential Financial in the 4th quarter worth $34,000. Hedge funds and other institutional investors own 56.83% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. BMO Capital Markets assumed coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective for the company. Piper Sandler lowered their target price on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their target price on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. UBS Group cut their price target on Prudential Financial from $130.00 to $122.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods reduced their target price on Prudential Financial from $125.00 to $120.00 and set a "market perform" rating on the stock in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Prudential Financial currently has an average rating of "Hold" and an average price target of $121.85.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the acquisition, the insider now owns 87,047 shares in the company, valued at $2,499,989.84. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the executive vice president now owns 27,072 shares of the company's stock, valued at $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 0.25% of the company's stock.

Prudential Financial Price Performance

NYSE:PRU traded up $1.40 during midday trading on Wednesday, hitting $101.61. 1,565,236 shares of the stock were exchanged, compared to its average volume of 1,604,022. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $36.01 billion, a price-to-earnings ratio of 13.60, a P/E/G ratio of 0.98 and a beta of 1.11. The business has a 50-day moving average price of $107.17 and a two-hundred day moving average price of $116.56.

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

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 5.31%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's dividend payout ratio is currently 72.29%.

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.