DRW Securities LLC cut its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 90.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,522 shares of the financial services provider's stock after selling 22,647 shares during the quarter. DRW Securities LLC's holdings in Prudential Financial were worth $299,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Prudential Financial by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider's stock valued at $4,960,547,000 after purchasing an additional 220,671 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Prudential Financial by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 8,856,360 shares of the financial services provider's stock valued at $1,050,635,000 after acquiring an additional 193,681 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Prudential Financial by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,454,278 shares of the financial services provider's stock worth $290,906,000 after purchasing an additional 6,938 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Prudential Financial by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,409,521 shares of the financial services provider's stock worth $285,601,000 after purchasing an additional 26,210 shares during the period. Finally, Amundi raised its holdings in Prudential Financial by 32.7% in 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. 56.83% of the stock is owned by institutional investors.
Prudential Financial Stock Performance
Shares of PRU traded down $0.14 during trading hours on Wednesday, reaching $100.09. 380,519 shares of the company's stock traded hands, compared to its average volume of 1,593,420. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. The firm has a market capitalization of $35.47 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 0.98 and a beta of 1.11. The business's fifty day simple moving average is $108.47 and its two-hundred day simple moving average is $117.30. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick 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%. Analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.
Prudential Financial Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 5.40%. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial's dividend payout ratio (DPR) is currently 72.29%.
Insider Activity
In other news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the transaction, the insider now directly owns 87,047 shares of the company's stock, valued at approximately $2,499,989.84. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value 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 approximately $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price objective on the stock. Piper Sandler lowered their price objective on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research note on Tuesday. Keefe, Bruyette & Woods decreased their price objective on shares of Prudential Financial from $125.00 to $120.00 and set a "market perform" rating for the company in a report on Wednesday, April 9th. JPMorgan Chase & Co. lowered their target price on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Finally, Wells Fargo & Company dropped their price target on Prudential Financial from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $121.85.
Get Our Latest Analysis on PRU
About Prudential Financial
(
Free Report)
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.
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