Rockefeller Capital Management L.P. Decreases Position in Prudential Financial, Inc. (NYSE:PRU)

Rockefeller Capital Management L.P. trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 42.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,695 shares of the financial services provider's stock after selling 134,113 shares during the period. Rockefeller Capital Management L.P. owned about 0.05% of Prudential Financial worth $21,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in PRU. Y Intercept Hong Kong Ltd bought a new stake in Prudential Financial during the 3rd quarter valued at $486,000. Barclays PLC increased its holdings in shares of Prudential Financial by 11.0% in the third quarter. Barclays PLC now owns 1,062,776 shares of the financial services provider's stock valued at $128,700,000 after purchasing an additional 105,089 shares during the period. World Investment Advisors LLC boosted its stake in shares of Prudential Financial by 4.8% in the third quarter. World Investment Advisors LLC now owns 2,792 shares of the financial services provider's stock worth $338,000 after buying an additional 127 shares during the last quarter. Arvest Bank Trust Division acquired a new position in Prudential Financial in the third quarter valued at approximately $2,294,000. Finally, Tidal Investments LLC boosted its holdings in Prudential Financial by 22.5% during the third quarter. Tidal Investments LLC now owns 18,967 shares of the financial services provider's stock worth $2,297,000 after buying an additional 3,483 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Piper Sandler decreased their price objective on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research report on Tuesday. Wells Fargo & Company reduced their price target on Prudential Financial from $118.00 to $108.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Keefe, Bruyette & Woods cut their price objective on Prudential Financial from $125.00 to $120.00 and set a "market perform" rating for the company in a research report on Wednesday, April 9th. Barclays decreased their target price on Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. Finally, Morgan Stanley cut their price target on shares of Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $121.85.

Prudential Financial Price Performance

Shares of NYSE PRU traded up $0.77 during mid-day trading on Friday, reaching $99.39. The company's stock had a trading volume of 1,480,033 shares, compared to its average volume of 1,600,586. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The stock has a market capitalization of $35.23 billion, a P/E ratio of 13.31, a P/E/G ratio of 0.98 and a beta of 1.11. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a 50-day moving average of $107.93 and a two-hundred day moving average of $117.03.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its earnings results 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%. On average, equities research analysts anticipate 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. Investors of record on Tuesday, February 18th were given a dividend of $1.35 per share. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 5.43%. The ex-dividend date was Tuesday, February 18th. Prudential Financial's dividend payout ratio (DPR) is presently 72.29%.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of Prudential Financial stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the acquisition, the insider now owns 87,047 shares in the company, valued at approximately $2,499,989.84. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following 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 trade represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company's stock.

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.