Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 19.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,757 shares of the financial services provider's stock after selling 7,608 shares during the quarter. Thrivent Financial for Lutherans' holdings in Prudential Financial were worth $3,765,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Savant Capital LLC grew its holdings in shares of Prudential Financial by 0.6% during the 4th quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider's stock worth $1,705,000 after purchasing an additional 83 shares during the period. Grove Bank & Trust grew its stake in Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock worth $26,000 after buying an additional 87 shares during the period. HBK Sorce Advisory LLC increased its position in shares of Prudential Financial by 1.0% in the fourth quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider's stock worth $1,116,000 after acquiring an additional 91 shares in the last quarter. Asset Dedication LLC lifted its holdings in shares of Prudential Financial by 28.4% during the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider's stock valued at $50,000 after acquiring an additional 93 shares in the last quarter. Finally, RNC Capital Management LLC boosted its position in Prudential Financial by 3.3% during the 4th quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider's stock worth $354,000 after purchasing an additional 95 shares during the period. Hedge funds and other institutional investors own 56.83% of the company's stock.

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Insider Buying and Selling

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, with a total value of $2,499,989.84. Following the completion of the transaction, the insider now directly owns 87,047 shares of the company's stock, valued at approximately $2,499,989.84. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business's stock in a transaction 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 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. 0.31% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Keefe, Bruyette & Woods cut their price objective on Prudential Financial from $129.00 to $125.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 12th. Barclays raised their target price on Prudential Financial from $128.00 to $134.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. Wells Fargo & Company upped their price target on Prudential Financial from $113.00 to $118.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Piper Sandler reduced 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, Jefferies Financial Group upped their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the company a "buy" rating in a research note 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $126.15.

Prudential Financial Stock Down 3.9 %

NYSE:PRU traded down $4.48 during mid-day trading on Friday, reaching $109.94. The stock had a trading volume of 2,326,712 shares, compared to its average volume of 1,538,419. The stock's 50 day simple moving average is $113.09 and its two-hundred day simple moving average is $118.95. Prudential Financial, Inc. has a 1-year low of $104.45 and a 1-year high of $130.55. The company has a market capitalization of $39.36 billion, a price-to-earnings ratio of 14.72, 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 issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share 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%. Equities analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current 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 given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date was Tuesday, February 18th. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's dividend payout ratio is currently 72.29%.

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.