Prudential Financial, Inc. (NYSE:PRU) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC trimmed its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 97.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,703 shares of the financial services provider's stock after selling 1,269,554 shares during the period. International Assets Investment Management LLC's holdings in Prudential Financial were worth $3,402,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PRU. Ashton Thomas Securities LLC bought a new position in Prudential Financial in the 3rd quarter worth about $31,000. Strategic Financial Concepts LLC grew its holdings in shares of Prudential Financial by 1,312.4% during the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider's stock valued at $32,000 after buying an additional 25,027 shares during the last quarter. 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 worth $34,000 after acquiring an additional 222 shares during the last quarter. Tompkins Financial Corp lifted its position in Prudential Financial by 61.7% in the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 140 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its stake in Prudential Financial by 235.4% during the 3rd quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 266 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on PRU shares. Piper Sandler increased their price objective on shares of Prudential Financial from $121.00 to $127.00 and gave the company a "neutral" rating in a research report on Wednesday, October 2nd. Evercore ISI upgraded Prudential Financial from an "underperform" rating to an "inline" rating and boosted their price objective for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Barclays increased their price target on Prudential Financial from $119.00 to $129.00 and gave the stock an "equal weight" rating in a research note on Monday. TD Cowen increased their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a "hold" rating in a report on Wednesday, November 27th. Finally, Jefferies Financial Group lifted their target price on Prudential Financial from $149.00 to $152.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Eleven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $127.17.

Prudential Financial Trading Down 0.7 %

Shares of NYSE:PRU traded down $0.82 during trading hours on Wednesday, hitting $118.36. 1,388,747 shares of the company's stock traded hands, compared to its average volume of 1,189,969. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The business has a fifty day moving average price of $122.90 and a 200-day moving average price of $120.70. Prudential Financial, Inc. has a 1 year low of $100.60 and a 1 year high of $130.55. The firm has a market capitalization of $42.14 billion, a P/E ratio of 10.52, a price-to-earnings-growth ratio of 0.87 and a beta of 1.31.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts' consensus estimates of $3.47 by $0.01. The business had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter last year, the firm posted $3.44 earnings per share. Equities analysts expect that Prudential Financial, Inc. will post 13.35 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were paid a $1.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.39%. Prudential Financial's dividend payout ratio is currently 46.22%.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of Prudential Financial stock in a transaction dated Monday, November 25th. The stock was purchased at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the transaction, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.31% of the company's stock.

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.