Natixis Advisors LLC Sells 3,222 Shares of Prudential Financial, Inc. (NYSE:PRU)

Natixis Advisors LLC reduced its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 2.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 133,097 shares of the financial services provider's stock after selling 3,222 shares during the quarter. Natixis Advisors LLC's holdings in Prudential Financial were worth $15,776,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRU. State Street Corp raised its holdings in shares of Prudential Financial by 0.3% in the 3rd quarter. State Street Corp now owns 17,007,013 shares of the financial services provider's stock worth $2,059,549,000 after purchasing an additional 49,830 shares during the period. Geode Capital Management LLC raised its stake in shares of Prudential Financial by 4.1% in the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider's stock valued at $1,047,872,000 after buying an additional 341,787 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Prudential Financial by 1.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider's stock valued at $370,327,000 after buying an additional 47,561 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Prudential Financial by 0.3% during the 4th 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 acquiring an additional 6,938 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in 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 acquiring an additional 26,210 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several research analysts recently commented on PRU shares. Barclays raised their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. Wells Fargo & Company lifted their price target on Prudential Financial from $113.00 to $118.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 19th. BMO Capital Markets assumed coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 target price for the company. Keefe, Bruyette & Woods lowered their price target on shares of Prudential Financial from $129.00 to $125.00 and set a "market perform" rating on the stock in a report on Wednesday, February 12th. Finally, Piper Sandler reduced their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, ten have assigned 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 a consensus rating of "Hold" and an average price target of $126.15.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the completion of the purchase, the insider now directly owns 87,047 shares in the company, valued at approximately $2,499,989.84. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the sale, the executive vice president now directly owns 27,072 shares in the company, valued at approximately $2,869,090.56. The trade was a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company's stock.

Prudential Financial Trading Down 0.4 %

Shares of NYSE:PRU traded down $0.43 during trading on Friday, reaching $110.35. 3,274,047 shares of the company traded hands, compared to its average volume of 1,431,891. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 52-week low of $104.45 and a 52-week high of $130.55. The business's fifty day moving average is $113.57 and its 200-day moving average is $119.05. The firm has a market capitalization of $39.51 billion, a price-to-earnings ratio of 14.77, a P/E/G ratio of 0.98 and a beta of 1.28.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (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, analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were given a dividend of $1.35 per share. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a yield of 4.89%. Prudential Financial's dividend payout ratio is presently 72.29%.

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.