Royal London Asset Management Ltd. Sells 3,439 Shares of Prudential Financial, Inc. (NYSE:PRU)

Royal London Asset Management Ltd. lessened its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 164,313 shares of the financial services provider's stock after selling 3,439 shares during the period. Royal London Asset Management Ltd.'s holdings in Prudential Financial were worth $19,476,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Algebris UK Ltd raised its holdings in Prudential Financial by 79.5% during the 4th quarter. Algebris UK Ltd now owns 218,412 shares of the financial services provider's stock worth $24,951,000 after purchasing an additional 96,725 shares during the last quarter. Vinva Investment Management Ltd increased its position in shares of Prudential Financial by 13.2% during the fourth quarter. Vinva Investment Management Ltd now owns 18,742 shares of the financial services provider's stock worth $2,214,000 after buying an additional 2,186 shares during the period. Xponance Inc. lifted its holdings in Prudential Financial by 7.1% in the fourth quarter. Xponance Inc. now owns 54,424 shares of the financial services provider's stock valued at $6,451,000 after buying an additional 3,589 shares during the period. Generali Asset Management SPA SGR bought a new stake in Prudential Financial during the fourth quarter valued at $6,445,000. Finally, Horizon Investments LLC grew its holdings in Prudential Financial by 1.7% during the 4th quarter. Horizon Investments LLC now owns 6,386 shares of the financial services provider's stock worth $757,000 after acquiring an additional 107 shares during the period. Institutional investors and hedge funds own 56.83% of the company's stock.

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Prudential Financial Stock Up 1.1 %

Shares of NYSE:PRU traded up $1.26 during mid-day trading on Wednesday, hitting $115.62. 2,407,225 shares of the company traded hands, compared to its average volume of 1,438,519. The stock has a 50-day moving average price of $113.44 and a two-hundred day moving average price of $119.01. Prudential Financial, Inc. has a 12-month low of $104.45 and a 12-month high of $130.55. The stock has a market cap of $41.39 billion, a P/E ratio of 15.48, a P/E/G ratio of 0.98 and a beta of 1.28. 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 posted its quarterly earnings data 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%. On average, equities research analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were paid a $1.35 dividend. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 annualized dividend and a yield of 4.67%. Prudential Financial's dividend payout ratio (DPR) is 72.29%.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the company's stock in a transaction 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 completion of the purchase, the insider now directly owns 87,047 shares in the company, valued at $2,499,989.84. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 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 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 approximately $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on PRU shares. BMO Capital Markets assumed coverage on Prudential Financial in a research report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 target price on the stock. Wells Fargo & Company raised 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. Morgan Stanley dropped their target price on shares of Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating on the stock in a research report on Friday, February 28th. Barclays lifted their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group increased their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $126.15.

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.