Commonwealth Equity Services LLC lessened its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 277,526 shares of the financial services provider's stock after selling 2,364 shares during the period. Commonwealth Equity Services LLC owned approximately 0.08% of Prudential Financial worth $32,895,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of PRU. Glenmede Trust Co. NA lifted its holdings in shares of Prudential Financial by 7.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider's stock worth $2,176,000 after acquiring an additional 1,234 shares during the period. Avanza Fonder AB bought a new stake in shares of Prudential Financial during the fourth quarter valued at approximately $3,423,000. Gateway Investment Advisers LLC raised its holdings in Prudential Financial by 56.1% during the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider's stock worth $2,607,000 after purchasing an additional 7,907 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Prudential Financial by 3.9% in the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider's stock valued at $50,830,000 after buying an additional 15,695 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Prudential Financial by 2.3% during the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider's stock valued at $9,597,000 after purchasing an additional 1,765 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the 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 directly owns 27,072 shares of the company's stock, valued at $2,869,090.56. This represents a 18.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of Prudential Financial stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the acquisition, the insider now owns 87,047 shares of the company's stock, valued at approximately $2,499,989.84. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.31% of the company's stock.
Prudential Financial Stock Performance
Shares of PRU traded up $0.90 during midday trading on Wednesday, reaching $110.64. The stock had a trading volume of 1,252,303 shares, compared to its average volume of 1,756,187. The firm has a market cap of $39.61 billion, a PE ratio of 14.81, a P/E/G ratio of 0.98 and a beta of 1.28. The firm has a 50 day simple moving average of $113.96 and a 200-day simple moving average of $119.24. Prudential Financial, Inc. has a one year low of $104.44 and a one 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 (EPS) for the quarter, missing the consensus estimate 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, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.
Prudential Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.88%. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial's payout ratio is 72.29%.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on PRU shares. Keefe, Bruyette & Woods dropped their price objective on shares of Prudential Financial from $129.00 to $125.00 and set a "market perform" rating on the stock in a report on Wednesday, February 12th. Barclays boosted their price target on Prudential Financial from $128.00 to $134.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. Piper Sandler decreased their price objective on Prudential Financial from $127.00 to $124.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Jefferies Financial Group upped their price target on Prudential Financial from $149.00 to $152.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company boosted their price objective on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $126.15.
Get Our Latest Research Report on PRU
About Prudential Financial
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Free Report)
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.
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