Federated Hermes Inc. Buys 57,290 Shares of Prudential Financial, Inc. (NYSE:PRU)

Federated Hermes Inc. boosted its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,090,879 shares of the financial services provider's stock after buying an additional 57,290 shares during the period. Federated Hermes Inc. owned approximately 0.31% of Prudential Financial worth $129,302,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Grove Bank & Trust raised its stake in Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 87 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Prudential Financial during the fourth quarter valued at about $29,000. CGC Financial Services LLC grew its position in Prudential Financial by 82.1% during the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock worth $33,000 after buying an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new position in Prudential Financial during the fourth quarter valued at about $33,000. Finally, Quarry LP raised its holdings in Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 222 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the transaction, the executive vice president now directly owns 27,072 shares in the company, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the stock in a transaction dated Tuesday, March 25th. The shares were acquired at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the transaction, the insider now owns 139,987 shares in the company, valued at $3,992,429.24. This trade represents a 60.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by insiders.

Prudential Financial Price Performance

NYSE PRU traded down $0.58 on Friday, hitting $97.90. 1,032,410 shares of the company were exchanged, compared to its average volume of 1,591,461. 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 cap of $34.70 billion, a P/E ratio of 13.08, a P/E/G ratio of 0.98 and a beta of 1.11. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The firm has a 50 day moving average of $109.36 and a two-hundred day moving average of $117.72.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly 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 net margin of 4.01% and a return on equity of 15.86%. On average, equities analysts predict 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. Stockholders of record on Tuesday, February 18th were given a dividend of $1.35 per share. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.52%. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's payout ratio is presently 72.29%.

Analyst Ratings Changes

A number of analysts have recently issued reports on PRU shares. Keefe, Bruyette & Woods lowered their price objective on Prudential Financial from $125.00 to $120.00 and set a "market perform" rating on the stock in a research report on Wednesday. Wells Fargo & Company lowered their price target on shares of Prudential Financial from $118.00 to $108.00 and set an "equal weight" rating on the stock in a report on Thursday. JPMorgan Chase & Co. decreased their target price on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Barclays upped their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Finally, BMO Capital Markets assumed coverage on Prudential Financial in a report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price objective on the stock. 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $124.92.

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.