State of Alaska Department of Revenue Sells 8,673 Shares of Prudential Financial, Inc. (NYSE:PRU)

State of Alaska Department of Revenue lessened its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 17.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,595 shares of the financial services provider's stock after selling 8,673 shares during the quarter. State of Alaska Department of Revenue's holdings in Prudential Financial were worth $4,811,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of PRU. Private Wealth Management Group LLC increased its holdings in shares of Prudential Financial by 119.0% in the 4th quarter. Private Wealth Management Group LLC now owns 322 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 175 shares during the last quarter. YANKCOM Partnership acquired a new position in Prudential Financial in the fourth quarter worth $805,000. Centennial Wealth Advisory LLC increased its stake in Prudential Financial by 6.4% during the fourth quarter. Centennial Wealth Advisory LLC now owns 4,297 shares of the financial services provider's stock valued at $509,000 after purchasing an additional 259 shares during the last quarter. Choreo LLC lifted its position in shares of Prudential Financial by 25.1% in the 4th quarter. Choreo LLC now owns 31,954 shares of the financial services provider's stock worth $3,780,000 after buying an additional 6,409 shares during the last quarter. Finally, Lion Street Advisors LLC boosted its holdings in shares of Prudential Financial by 40.7% in the 4th quarter. Lion Street Advisors LLC now owns 6,943 shares of the financial services provider's stock valued at $823,000 after buying an additional 2,010 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Trading Down 0.4 %

PRU stock traded down $0.41 during mid-day trading on Tuesday, reaching $111.68. 1,132,700 shares of the stock traded hands, compared to its average volume of 1,745,682. The stock's fifty day moving average is $119.08 and its 200-day moving average is $120.16. The company has a market cap of $39.76 billion, a P/E ratio of 14.95, a P/E/G ratio of 1.00 and a beta of 1.31. The company has a current ratio of 0.16, a quick ratio of 0.14 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 52-week low of $104.02 and a 52-week high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results 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 net margin of 4.01% and a return on equity of 15.86%. As a group, sell-side analysts expect that Prudential Financial, Inc. will post 14.38 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.84%. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Tuesday, February 18th. Prudential Financial's dividend payout ratio is 69.61%.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of Prudential Financial stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the acquisition, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.31% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. TD Cowen upped their target price on Prudential Financial from $130.00 to $133.00 and gave the company a "hold" rating in a report on Wednesday, November 27th. Barclays upped their price objective on Prudential Financial from $128.00 to $134.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. Evercore ISI upgraded shares of Prudential Financial from an "underperform" rating to an "inline" rating and upped their price target for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. Piper Sandler reduced their target price on shares of Prudential Financial from $127.00 to $124.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Finally, Jefferies Financial Group lifted their price target on Prudential Financial from $149.00 to $152.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. One 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $125.77.

Prudential Financial Company 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.