BI Asset Management Fondsmaeglerselskab A S Sells 12,485 Shares of Prudential Financial, Inc. (NYSE:PRU)

BI Asset Management Fondsmaeglerselskab A S decreased its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 31.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,260 shares of the financial services provider's stock after selling 12,485 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Prudential Financial were worth $3,231,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Prudential Financial by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider's stock worth $4,960,547,000 after purchasing an additional 220,671 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Prudential Financial by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 8,856,360 shares of the financial services provider's stock valued at $1,050,635,000 after acquiring an additional 193,681 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Prudential Financial by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,454,278 shares of the financial services provider's stock valued at $290,906,000 after purchasing an additional 6,938 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Prudential Financial by 1.1% in the fourth 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 in the last quarter. Finally, Amundi increased its position in Prudential Financial by 32.7% during the fourth quarter. Amundi now owns 1,535,514 shares of the financial services provider's stock worth $181,851,000 after buying an additional 378,266 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

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 that occurred on 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 approximately $2,869,090.56. This represents a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the stock in a transaction dated Tuesday, March 25th. The shares were bought at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the transaction, the insider now owns 139,987 shares in the company, valued at approximately $3,992,429.24. This represents a 60.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PRU shares. UBS Group cut their price target on Prudential Financial from $130.00 to $122.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Piper Sandler lowered their target price on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Barclays reduced their price target on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. Keefe, Bruyette & Woods dropped their price objective on Prudential Financial from $125.00 to $120.00 and set a "market perform" rating for the company in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. dropped their price objective on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $121.85.

Prudential Financial Stock Down 1.1 %

PRU traded down $1.18 during trading on Friday, hitting $102.85. 1,250,850 shares of the company's stock were exchanged, compared to its average volume of 1,604,727. The stock has a market cap of $36.45 billion, a P/E ratio of 13.77, a PEG ratio of 0.98 and a beta of 1.11. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The business's 50 day moving average is $106.82 and its two-hundred day moving average is $116.34.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its 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 net margin of 4.01% and a return on equity of 15.86%. As a group, equities analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date was Tuesday, February 18th. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. 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.