Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Swiss National Bank

Swiss National Bank cut its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,008,500 shares of the financial services provider's stock after selling 57,100 shares during the period. Swiss National Bank owned 0.28% of Prudential Financial worth $119,538,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PRU. State Street Corp boosted its position in shares of Prudential Financial by 0.3% during the third quarter. State Street Corp now owns 17,007,013 shares of the financial services provider's stock worth $2,059,549,000 after acquiring an additional 49,830 shares during the last quarter. Geode Capital Management LLC lifted its stake in Prudential Financial by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider's stock worth $1,047,872,000 after purchasing an additional 341,787 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Prudential Financial by 1.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider's stock valued at $370,327,000 after purchasing an additional 47,561 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Prudential Financial by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,454,278 shares of the financial services provider's stock worth $290,906,000 after purchasing an additional 6,938 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Prudential Financial by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,409,521 shares of the financial services provider's stock worth $285,601,000 after buying an additional 26,210 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were acquired 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 of the company's stock, valued at $2,499,989.84. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $2,869,090.56. The trade was a 18.14 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Prudential Financial Trading Up 0.8 %

Shares of NYSE:PRU traded up $0.90 on Wednesday, hitting $110.64. 1,252,303 shares of the company's stock were exchanged, compared to its average volume of 1,427,178. Prudential Financial, Inc. has a 12 month low of $104.45 and a 12 month high of $130.55. The business's 50 day simple moving average is $113.96 and its two-hundred day simple moving average is $119.24. The stock has a market capitalization of $39.61 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly 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%. Analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a $1.35 dividend. The ex-dividend date was Tuesday, February 18th. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.88%. Prudential Financial's dividend payout ratio is 72.29%.

Analysts Set New Price Targets

PRU has been the topic of a number of research reports. Morgan Stanley reduced their price objective on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Keefe, Bruyette & Woods decreased their price target on shares of Prudential Financial from $129.00 to $125.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 12th. TD Cowen lifted their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a "hold" rating in a research note on Wednesday, November 27th. Piper Sandler decreased their target price on shares of Prudential Financial from $127.00 to $124.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Finally, Barclays lifted their price target on Prudential Financial from $128.00 to $134.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. One equities 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 stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $126.15.

About Prudential Financial

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.