Hartford Investment Management Co. Sells 308 Shares of Prudential Financial, Inc. (NYSE:PRU)

Hartford Investment Management Co. reduced its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,649 shares of the financial services provider’s stock after selling 308 shares during the period. Hartford Investment Management Co.’s holdings in Prudential Financial were worth $2,922,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Savant Capital LLC boosted 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 buying an additional 83 shares during the period. Grove Bank & Trust boosted its holdings in shares of Prudential Financial by 65.9% during the 4th 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. Avidian Wealth Enterprises LLC boosted its holdings in shares of Prudential Financial by 1.2% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock worth $891,000 after buying an additional 89 shares during the period. Asset Dedication LLC raised its stake in 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 purchasing an additional 93 shares during the last quarter. Finally, RNC Capital Management LLC raised its stake 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 valued at $354,000 after purchasing an additional 95 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction dated Monday, November 25th. The shares were bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the purchase, the insider now owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PRU shares. 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. Wells Fargo & Company cut their target price on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. TD Cowen upped their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Piper Sandler cut 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, Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and increased their price objective for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $125.46.

Prudential Financial Trading Down 0.7 %

Shares of Prudential Financial stock opened at $110.82 on Thursday. The stock has a market capitalization of $39.45 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 1.00 and a beta of 1.31. The company has a quick ratio of 0.14, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The company has a 50-day simple moving average of $118.78 and a 200 day simple moving average of $120.07. Prudential Financial, Inc. has a 12-month low of $104.02 and a 12-month high of $130.55.

Prudential Financial (NYSE:PRU) last announced 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%. Research analysts expect 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. Shareholders of record on Tuesday, February 18th will be issued a dividend of $1.35 per share. The ex-dividend date is Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a yield of 4.87%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio is currently 69.61%.

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.