Applied Finance Capital Management LLC Sells 5,369 Shares of Prudential Financial, Inc. (NYSE:PRU)

Applied Finance Capital Management LLC decreased its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 43.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,077 shares of the financial services provider's stock after selling 5,369 shares during the quarter. Applied Finance Capital Management LLC's holdings in Prudential Financial were worth $839,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PRU. Grove Bank & Trust raised its holdings in shares of Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 87 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Prudential Financial in the 4th quarter worth $29,000. CGC Financial Services LLC grew its position in shares of Prudential Financial by 82.1% during the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock worth $33,000 after purchasing an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new stake in shares of Prudential Financial during the fourth quarter valued at approximately $33,000. Finally, Quarry LP lifted its stake 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 purchasing an additional 222 shares in the last quarter. 56.83% of the stock is owned by institutional investors.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was 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 owns 27,072 shares in the company, valued at $2,869,090.56. This represents a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the business's stock in a transaction dated Tuesday, March 25th. The stock was bought at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the acquisition, the insider now directly owns 139,987 shares in the company, valued at approximately $3,992,429.24. This trade represents a 60.18 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company's stock.

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Analyst Ratings Changes

Several equities analysts have weighed in on PRU shares. Morgan Stanley cut their price target on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. Piper Sandler reduced their price target on shares of Prudential Financial from $124.00 to $122.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. UBS Group dropped their price objective on shares of Prudential Financial from $130.00 to $122.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 target price on the stock. Finally, Keefe, Bruyette & Woods dropped their price target on Prudential Financial from $125.00 to $120.00 and set a "market perform" rating for the company in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $122.77.

Prudential Financial Trading Up 2.5 %

PRU traded up $2.47 during trading hours on Monday, reaching $101.30. 464,710 shares of the company's stock traded hands, compared to its average volume of 1,910,127. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average price of $108.98 and a 200 day moving average price of $117.56. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The firm has a market capitalization of $35.90 billion, a PE ratio of 13.56, a PEG ratio of 0.98 and a beta of 1.11.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly 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, sell-side analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently announced 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. 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 yield of 5.33%. Prudential Financial's payout ratio is 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.