Prudential Financial, Inc. (NYSE:PRU) Shares Sold by LSV Asset Management

LSV Asset Management cut its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 14.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 327,437 shares of the financial services provider's stock after selling 55,560 shares during the period. LSV Asset Management owned 0.09% of Prudential Financial worth $38,811,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PRU. Y Intercept Hong Kong Ltd purchased a new stake in shares of Prudential Financial during the third quarter worth about $486,000. Barclays PLC increased its stake in Prudential Financial by 11.0% during the 3rd quarter. Barclays PLC now owns 1,062,776 shares of the financial services provider's stock valued at $128,700,000 after purchasing an additional 105,089 shares in the last quarter. Vestcor Inc raised its holdings in shares of Prudential Financial by 15.4% in the third quarter. Vestcor Inc now owns 7,009 shares of the financial services provider's stock worth $849,000 after buying an additional 937 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of Prudential Financial by 1.9% during the third quarter. Toronto Dominion Bank now owns 191,652 shares of the financial services provider's stock valued at $23,209,000 after buying an additional 3,615 shares during the last quarter. Finally, Sanctuary Advisors LLC increased its position in shares of Prudential Financial by 3.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 57,194 shares of the financial services provider's stock valued at $7,315,000 after acquiring an additional 1,729 shares during the period. Hedge funds and other institutional investors own 56.83% of the company's stock.

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Analyst Ratings Changes

Several research firms have weighed in on PRU. Barclays dropped their price target on Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a research note on Friday. Morgan Stanley cut their price target on shares of Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Piper Sandler dropped their price objective on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a report on Tuesday. UBS Group reduced their target price on shares of 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 lowered their price target on shares of 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 investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Prudential Financial has an average rating of "Hold" and an average target price of $121.85.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the business's stock in a transaction 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 purchase, the insider now directly owns 87,047 shares of the company's stock, valued at $2,499,989.84. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the executive vice president now directly owns 27,072 shares of the company's stock, valued at $2,869,090.56. This represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Prudential Financial Price Performance

Prudential Financial stock traded down $1.24 during trading on Tuesday, reaching $100.20. The company had a trading volume of 1,721,638 shares, compared to its average volume of 1,598,144. The firm has a market capitalization of $35.51 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11. The firm's 50-day simple moving average is $108.73 and its 200 day simple moving average is $117.42. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing analysts' consensus estimates of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. As a group, equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a $1.35 dividend. 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. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.39%. Prudential Financial's 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.