Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Woodward Diversified Capital LLC

Woodward Diversified Capital LLC trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 47.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,608 shares of the financial services provider's stock after selling 3,237 shares during the quarter. Woodward Diversified Capital LLC's holdings in Prudential Financial were worth $428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA raised its position in shares of Prudential Financial by 7.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider's stock valued at $2,176,000 after purchasing an additional 1,234 shares during the last quarter. Avanza Fonder AB purchased a new position in shares of Prudential Financial in the fourth quarter worth $3,423,000. Gateway Investment Advisers LLC lifted its stake in shares of Prudential Financial by 56.1% during the fourth quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider's stock worth $2,607,000 after buying an additional 7,907 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Prudential Financial by 3.9% during the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider's stock valued at $50,830,000 after buying an additional 15,695 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in Prudential Financial by 2.3% in the 3rd quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider's stock worth $9,597,000 after acquiring an additional 1,765 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the acquisition, the insider now owns 4,780,293 shares of the company's stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.31% of the stock is owned by insiders.

Prudential Financial Price Performance

NYSE:PRU traded down $0.82 during trading hours on Wednesday, reaching $110.82. 2,105,768 shares of the company were exchanged, compared to its average volume of 1,758,545. The stock's 50-day moving average is $118.78 and its 200-day moving average is $120.07. Prudential Financial, Inc. has a twelve month low of $104.02 and a twelve month high of $130.55. The firm has a market cap of $39.45 billion, a PE ratio of 14.84, a price-to-earnings-growth 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 (NYSE:PRU - Get Free Report) last released its quarterly earnings data 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 return on equity of 15.86% and a net margin of 4.01%. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.87%. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's dividend payout ratio (DPR) is presently 69.61%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wells Fargo & Company dropped their price target on Prudential Financial from $117.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 14th. BMO Capital Markets began coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price target on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Prudential Financial from $129.00 to $125.00 and set a "market perform" rating for the company in a research note on Wednesday. Piper Sandler cut their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Finally, TD Cowen raised their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a "hold" rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Prudential Financial has an average rating of "Hold" and a consensus target price of $125.46.

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.