Prudential Financial Inc. Sells 8,204 Shares of Prudential Financial, Inc. (NYSE:PRU)

Prudential Financial Inc. reduced its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 174,523 shares of the financial services provider's stock after selling 8,204 shares during the period. Prudential Financial Inc.'s holdings in Prudential Financial were worth $20,686,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Congress Wealth Management LLC DE increased its stake in shares of Prudential Financial by 49.6% in the fourth quarter. Congress Wealth Management LLC DE now owns 3,242 shares of the financial services provider's stock valued at $384,000 after buying an additional 1,075 shares during the period. Crowley Wealth Management Inc. bought a new position in shares of Prudential Financial during the fourth quarter valued at $86,000. Vanguard Group Inc. lifted its holdings in shares of Prudential Financial by 0.5% during the fourth 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 period. Stevens Capital Management LP bought a new stake in shares of Prudential Financial in the fourth quarter worth $319,000. Finally, Guardian Partners Inc. acquired a new stake in Prudential Financial in the fourth quarter valued at $252,000. Institutional investors own 56.83% of the company's stock.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the business's stock in a transaction dated 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 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 filing 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 that occurred on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the sale, the executive vice president now directly owns 27,072 shares of the company's stock, valued at $2,869,090.56. The trade was a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

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Analyst Upgrades and Downgrades

A number of research firms have commented on PRU. Jefferies Financial Group upped their price target on Prudential Financial from $149.00 to $152.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Barclays upped their target price on Prudential Financial from $128.00 to $134.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. Keefe, Bruyette & Woods lowered their price target on shares of Prudential Financial from $129.00 to $125.00 and set a "market perform" rating for the company in a report on Wednesday, February 12th. Piper Sandler reduced their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Finally, Morgan Stanley decreased their target price on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. One equities research 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $126.15.

Prudential Financial Stock Up 1.5 %

NYSE PRU traded up $1.70 during mid-day trading on Monday, hitting $111.77. The company's stock had a trading volume of 1,892,917 shares, compared to its average volume of 1,539,831. 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's 50 day simple moving average is $112.95 and its 200 day simple moving average is $118.95. Prudential Financial, Inc. has a twelve month low of $104.45 and a twelve month high of $130.55. The firm has a market capitalization of $40.01 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 0.98 and a beta of 1.28.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS 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%. Analysts anticipate 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. Stockholders of record on Tuesday, February 18th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.83%. 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. Prudential Financial's dividend payout ratio (DPR) is currently 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.