Apollon Wealth Management LLC Sells 2,297 Shares of Prudential Financial, Inc. (NYSE:PRU)

Apollon Wealth Management LLC lowered its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 15.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,668 shares of the financial services provider's stock after selling 2,297 shares during the period. Apollon Wealth Management LLC's holdings in Prudential Financial were worth $1,502,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. State Street Corp increased 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 buying an additional 49,830 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Prudential Financial by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider's stock worth $1,047,872,000 after buying an additional 341,787 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Prudential Financial by 1.6% in 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 purchasing an additional 47,561 shares in the last quarter. FMR LLC boosted its stake in shares of Prudential Financial by 31.3% in the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider's stock valued at $174,903,000 after purchasing an additional 344,254 shares in the last quarter. Finally, abrdn plc boosted its stake in shares of Prudential Financial by 4.0% in the 3rd quarter. abrdn plc now owns 1,309,155 shares of the financial services provider's stock valued at $158,120,000 after purchasing an additional 50,026 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company's stock.

Prudential Financial Trading Down 0.3 %

Shares of NYSE:PRU traded down $0.37 on Friday, hitting $111.54. The company had a trading volume of 1,276,794 shares, compared to its average volume of 1,723,786. The firm's 50-day simple moving average is $118.17 and its two-hundred day simple moving average is $119.95. Prudential Financial, Inc. has a 1 year low of $104.44 and a 1 year high of $130.55. The company has a quick ratio of 0.14, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $39.71 billion, a price-to-earnings ratio of 14.93, a P/E/G ratio of 1.00 and a beta of 1.31.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. Equities analysts anticipate that Prudential Financial, Inc. will post 14.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.84%. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. Prudential Financial's dividend payout ratio (DPR) is presently 69.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PRU shares. Barclays upped their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Wells Fargo & Company cut their price objective on shares of Prudential Financial from $117.00 to $115.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods cut their price objective on shares of Prudential Financial from $129.00 to $125.00 and set a "market perform" rating for the company in a research note on Wednesday. BMO Capital Markets assumed coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective for the company. Finally, Jefferies Financial Group increased their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial has a consensus rating of "Hold" and a consensus price target of $125.46.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the purchase, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is owned by company insiders.

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.