Prudential Financial, Inc. (NYSE:PRU) Position Reduced by Cinctive Capital Management LP

Cinctive Capital Management LP cut its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 68.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,674 shares of the financial services provider's stock after selling 72,049 shares during the quarter. Cinctive Capital Management LP's holdings in Prudential Financial were worth $4,078,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Lynx Investment Advisory bought a new stake in Prudential Financial during the second quarter worth about $29,000. Ashton Thomas Securities LLC bought a new position in shares of Prudential Financial during the third quarter worth about $31,000. Strategic Financial Concepts LLC grew its holdings in Prudential Financial by 1,312.4% in the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider's stock worth $32,000 after purchasing an additional 25,027 shares during the period. Hobbs Group Advisors LLC acquired a new position in Prudential Financial during the 2nd quarter valued at about $38,000. Finally, Tompkins Financial Corp increased its position in shares of Prudential Financial by 61.7% during the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Trading Down 1.1 %

NYSE:PRU traded down $1.45 during mid-day trading on Tuesday, reaching $126.96. 485,501 shares of the company's stock traded hands, compared to its average volume of 1,491,533. 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 company has a 50 day moving average price of $124.24 and a 200-day moving average price of $120.12. The firm has a market capitalization of $45.20 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 0.93 and a beta of 1.29. Prudential Financial, Inc. has a 12-month low of $96.87 and a 12-month high of $130.55.

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

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date is Tuesday, November 19th. Prudential Financial's dividend payout ratio (DPR) is presently 46.22%.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the company's stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the transaction, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. The trade was a 12.66 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Barclays increased their price objective on Prudential Financial from $118.00 to $119.00 and gave the stock an "equal weight" rating in a report on Friday, November 1st. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $121.00 target price on shares of Prudential Financial in a research report on Wednesday, August 21st. Argus raised Prudential Financial to a "strong-buy" rating in a research note on Thursday, August 8th. UBS Group boosted their price target on Prudential Financial from $112.00 to $119.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 13th. Finally, Piper Sandler raised their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. Eleven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $125.92.

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.