HUB Investment Partners LLC Sells 2,441 Shares of Prudential Financial, Inc. (NYSE:PRU)

HUB Investment Partners LLC reduced its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,481 shares of the financial services provider's stock after selling 2,441 shares during the period. HUB Investment Partners LLC's holdings in Prudential Financial were worth $6,576,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PRU. Nordea Investment Management AB grew its position in shares of Prudential Financial by 176.8% during the fourth quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider's stock worth $123,804,000 after acquiring an additional 665,180 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Prudential Financial during the 4th quarter valued at about $76,303,000. Amundi grew its position in Prudential Financial by 32.7% in the 4th quarter. Amundi now owns 1,535,514 shares of the financial services provider's stock worth $181,851,000 after purchasing an additional 378,266 shares during the last quarter. FMR LLC raised its holdings in shares of Prudential Financial by 31.3% during the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider's stock valued at $174,903,000 after buying an additional 344,254 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Prudential Financial by 4.1% during the third 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 period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PRU. Morgan Stanley reduced their price target on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Barclays lifted their price target on Prudential Financial from $128.00 to $134.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. TD Cowen increased their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a "hold" rating in a research report on Wednesday, November 27th. Jefferies Financial Group lifted their price objective on Prudential Financial from $149.00 to $152.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Finally, Piper Sandler dropped their target price on Prudential Financial from $127.00 to $124.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $126.15.

Prudential Financial Stock Performance

PRU traded up $3.08 during midday trading on Monday, reaching $113.35. The company's stock had a trading volume of 1,744,976 shares, compared to its average volume of 1,433,769. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The company has a fifty day simple moving average of $113.51 and a 200 day simple moving average of $119.00. The stock has a market cap of $40.58 billion, a P/E ratio of 15.17, a PEG ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a twelve month low of $104.45 and a twelve month high of $130.55.

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

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.76%. The ex-dividend date was Tuesday, February 18th. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's dividend payout ratio (DPR) is presently 72.29%.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the purchase, the insider now directly owns 87,047 shares of the company's stock, valued at approximately $2,499,989.84. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction 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 transaction, the executive vice president now owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

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.