Cibc World Markets Corp Has $6.66 Million Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Cibc World Markets Corp lessened its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 18.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 56,196 shares of the financial services provider's stock after selling 13,049 shares during the period. Cibc World Markets Corp's holdings in Prudential Financial were worth $6,661,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Grove Bank & Trust grew its holdings in Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock worth $26,000 after acquiring an additional 87 shares during the period. Centricity Wealth Management LLC bought a new position in shares of Prudential Financial during the fourth quarter worth $29,000. CGC Financial Services LLC boosted 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 position in shares of Prudential Financial during the fourth quarter worth $33,000. Finally, Quarry LP boosted its position in shares of Prudential Financial by 376.3% during the third 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. Institutional investors and hedge funds own 56.83% of the company's stock.

Insider Activity at Prudential Financial

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the transaction, the executive vice president now owns 27,072 shares in the company, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their position. 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 purchased 87,047 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the purchase, the insider now owns 87,047 shares in the company, valued at $2,499,989.84. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is owned by company insiders.

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Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PRU. Barclays lifted their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. Piper Sandler reduced their price target on shares of Prudential Financial from $127.00 to $124.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Keefe, Bruyette & Woods reduced their price target on shares of Prudential Financial from $129.00 to $125.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 12th. BMO Capital Markets assumed coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective on the stock. Finally, Jefferies Financial Group boosted their price objective 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 investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $126.15.

Prudential Financial Stock Performance

Shares of Prudential Financial stock traded down $0.43 during trading on Friday, hitting $110.35. 3,274,047 shares of the stock were exchanged, compared to its average volume of 1,431,891. The stock has a market capitalization of $39.51 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. The company has a fifty day moving average price of $113.57 and a 200-day moving average price of $119.05. Prudential Financial, Inc. has a 1-year low of $104.45 and a 1-year high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share 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%. As a group, equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid 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 annualized dividend and a dividend yield of 4.89%. Prudential Financial's payout ratio is currently 72.29%.

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.