UniSuper Management Pty Ltd Reduces Holdings in Prudential Financial, Inc. (NYSE:PRU)

UniSuper Management Pty Ltd decreased its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 23.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,217 shares of the financial services provider's stock after selling 9,193 shares during the quarter. UniSuper Management Pty Ltd's holdings in Prudential Financial were worth $3,582,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PRU. Savant Capital LLC grew its position in Prudential Financial by 0.6% during the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider's stock valued at $1,705,000 after buying an additional 83 shares during the period. Grove Bank & Trust grew its holdings in Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 87 shares during the period. HBK Sorce Advisory LLC raised its stake in shares of Prudential Financial by 1.0% during the 4th quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider's stock worth $1,116,000 after buying an additional 91 shares during the period. Asset Dedication LLC grew its stake in Prudential Financial by 28.4% in 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 during the period. Finally, RNC Capital Management LLC raised its position in Prudential Financial by 3.3% during the fourth quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider's stock worth $354,000 after acquiring 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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Prudential Financial Trading Up 1.5 %

NYSE:PRU traded up $1.70 on Monday, reaching $111.77. 1,892,917 shares of the company's stock were exchanged, compared to its average volume of 1,539,831. The business has a fifty day moving average of $113.09 and a 200-day moving average of $118.98. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 52-week low of $104.45 and a 52-week high of $130.55. The firm has a market capitalization of $40.01 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28.

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 return on equity of 15.86% and a net margin of 4.01%. As a group, analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were issued a dividend of $1.35 per share. This is an increase 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 4.83%. Prudential Financial's dividend payout ratio is 72.29%.

Analysts Set New Price Targets

A number of equities analysts have commented on PRU shares. Piper Sandler reduced their target price on Prudential Financial from $127.00 to $124.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Barclays raised their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. Morgan Stanley cut their price objective 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. BMO Capital Markets started coverage on Prudential Financial in a report on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price target for the company. Finally, Keefe, Bruyette & Woods reduced their price target on Prudential Financial from $129.00 to $125.00 and set a "market perform" rating on the stock in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Prudential Financial has a consensus rating of "Hold" and an average price target of $126.15.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of Prudential Financial 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. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed 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 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 owns 27,072 shares of the company's stock, 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 corporate insiders.

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.