Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Prudential PLC

Prudential PLC lowered its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 157,274 shares of the financial services provider's stock after selling 8,106 shares during the quarter. Prudential PLC's holdings in Prudential Financial were worth $18,642,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Unison Advisors LLC lifted its position in Prudential Financial by 1.0% in the fourth quarter. Unison Advisors LLC now owns 34,355 shares of the financial services provider's stock valued at $4,072,000 after buying an additional 352 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its stake in shares of Prudential Financial by 66.3% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 800 shares of the financial services provider's stock valued at $95,000 after acquiring an additional 319 shares during the period. ExodusPoint Capital Management LP purchased a new position in shares of Prudential Financial during the 4th quarter worth approximately $13,258,000. Arete Wealth Advisors LLC increased its holdings in Prudential Financial by 16.5% in the 4th quarter. Arete Wealth Advisors LLC now owns 12,364 shares of the financial services provider's stock valued at $1,465,000 after purchasing an additional 1,754 shares during the last quarter. Finally, World Investment Advisors raised its position in Prudential Financial by 78.4% in the fourth quarter. World Investment Advisors now owns 4,981 shares of the financial services provider's stock valued at $590,000 after purchasing an additional 2,189 shares during the period. Institutional investors and hedge funds own 56.83% of the company's stock.

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Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of Prudential Financial stock in a transaction on Tuesday, March 25th. The shares were bought at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the acquisition, the insider now owns 139,987 shares in the company, valued at approximately $3,992,429.24. This trade represents a 60.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business's stock in a transaction that occurred 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 directly 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. Insiders own 0.31% of the company's stock.

Prudential Financial Stock Performance

NYSE:PRU traded down $1.57 during mid-day trading on Wednesday, reaching $93.55. The stock had a trading volume of 1,135,644 shares, compared to its average volume of 1,576,346. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. The firm has a market capitalization of $33.16 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 0.98 and a beta of 1.11. The business has a 50 day simple moving average of $110.46 and a 200 day simple moving average of $118.09.

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

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were issued a dividend of $1.35 per share. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 5.77%. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial's dividend payout ratio (DPR) is 72.29%.

Analysts Set New Price Targets

PRU has been the topic of several research analyst reports. Morgan Stanley cut their price objective on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Keefe, Bruyette & Woods reduced their price target on shares of Prudential Financial from $125.00 to $120.00 and set a "market perform" rating on the stock in a research report on Wednesday. Barclays increased their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. BMO Capital Markets started coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective on the stock. Finally, Piper Sandler lowered their target price on Prudential Financial from $124.00 to $122.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $125.69.

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.