Forsta AP Fonden Sells 6,500 Shares of Prudential Financial, Inc. (NYSE:PRU)

Forsta AP Fonden trimmed its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,000 shares of the financial services provider's stock after selling 6,500 shares during the period. Forsta AP Fonden's holdings in Prudential Financial were worth $17,424,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Grove Bank & Trust increased its position 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 worth $26,000 after purchasing an additional 87 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Prudential Financial in the 3rd quarter worth about $31,000. Quarry LP increased its position in shares of Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider's stock worth $34,000 after purchasing an additional 222 shares during the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Prudential Financial in the 4th quarter worth about $37,000. Finally, Tompkins Financial Corp increased its position in shares of Prudential Financial by 61.7% in the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider's stock worth $44,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company's stock.

Prudential Financial Stock Performance

Shares of Prudential Financial stock traded up $0.15 during trading on Thursday, reaching $122.48. The company's stock had a trading volume of 212,353 shares, compared to its average volume of 1,546,335. Prudential Financial, Inc. has a 52 week low of $100.60 and a 52 week high of $130.55. The business's 50-day moving average price is $121.04 and its 200-day moving average price is $120.66. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The firm has a market cap of $43.60 billion, a PE ratio of 10.89, a P/E/G ratio of 1.09 and a beta of 1.31.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating the consensus estimate of $3.47 by $0.01. The business had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter in the prior year, the firm earned $3.44 EPS. Equities analysts forecast that Prudential Financial, Inc. will post 13.24 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were given a $1.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.25%. Prudential Financial's dividend payout ratio is presently 46.22%.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $27.92 per share, for a total transaction 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 $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PRU shares. Piper Sandler dropped their target price on shares of Prudential Financial from $127.00 to $124.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. BMO Capital Markets assumed 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 for the company. Wells Fargo & Company lowered their price objective on shares of Prudential Financial from $117.00 to $115.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods lowered their price objective on shares of Prudential Financial from $135.00 to $129.00 and set a "market perform" rating for the company in a research report on Thursday, January 16th. Finally, Jefferies Financial Group boosted their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $125.31.

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.