Chevy Chase Trust Holdings LLC Sells 4,595 Shares of Prudential Financial, Inc. (NYSE:PRU)

Chevy Chase Trust Holdings LLC lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 2.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 191,540 shares of the financial services provider's stock after selling 4,595 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Prudential Financial worth $23,195,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PRU. Ashton Thomas Securities LLC purchased a new position in shares of Prudential Financial in the third quarter worth about $31,000. Hobbs Group Advisors LLC purchased a new stake in shares of Prudential Financial in the 2nd quarter valued at $38,000. Tompkins Financial Corp boosted its stake in shares of Prudential Financial by 61.7% in 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 in the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Prudential Financial by 235.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 266 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Prudential Financial in the 2nd quarter valued at $45,000. Hedge funds and other institutional investors own 56.83% of the company's stock.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the company's stock in a transaction dated Monday, November 25th. The shares were purchased at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the acquisition, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.34% of the company's stock.

Prudential Financial Stock Down 1.0 %

Shares of Prudential Financial stock traded down $1.25 during trading on Wednesday, hitting $125.90. The company's stock had a trading volume of 1,224,108 shares, compared to its average volume of 1,494,146. Prudential Financial, Inc. has a 52 week low of $97.70 and a 52 week high of $130.55. The company has a fifty day simple moving average of $124.67 and a two-hundred day simple moving average of $120.26. The company has a market capitalization of $44.82 billion, a PE ratio of 11.19, a P/E/G ratio of 0.92 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating the consensus estimate of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The company had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same period in the prior year, the firm posted $3.44 EPS. Equities research analysts predict that Prudential Financial, Inc. will post 13.35 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial's payout ratio is presently 46.22%.

Analyst Ratings Changes

A number of equities research analysts recently commented on PRU shares. Morgan Stanley lowered their price target on shares of Prudential Financial from $123.00 to $122.00 and set an "equal weight" rating for the company in a report on Monday, August 19th. UBS Group upped their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the company a "neutral" rating in a report on Tuesday, August 13th. TD Cowen upped their price target on shares of Prudential Financial from $130.00 to $133.00 and gave the company a "hold" rating in a report on Wednesday, November 27th. Piper Sandler upped their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Finally, Barclays upped their price objective on shares of Prudential Financial from $118.00 to $119.00 and gave the stock an "equal weight" rating in a report on Friday, November 1st. Eleven research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $125.92.

About Prudential Financial

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.