Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Angeles Investment Advisors LLC

Angeles Investment Advisors LLC lessened its holdings in Prudential Financial, Inc. (NYSE:PRU) by 12.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,158 shares of the financial services provider’s stock after selling 439 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Prudential Financial were worth $374,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Congress Wealth Management LLC DE grew its position in Prudential Financial by 49.6% during the 4th quarter. Congress Wealth Management LLC DE now owns 3,242 shares of the financial services provider’s stock worth $384,000 after purchasing an additional 1,075 shares during the last quarter. Crowley Wealth Management Inc. purchased a new stake in shares of Prudential Financial during the fourth quarter valued at $86,000. Vanguard Group Inc. increased its position in shares of Prudential Financial by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider’s stock valued at $4,960,547,000 after acquiring an additional 220,671 shares during the period. Stevens Capital Management LP purchased a new position in Prudential Financial in the 4th quarter worth $319,000. Finally, Guardian Partners Inc. acquired a new stake in Prudential Financial during the 4th quarter worth about $252,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Activity

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the sale, the executive vice president now directly owns 27,072 shares in the company, valued at $2,869,090.56. This represents a 18.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of Prudential Financial stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the acquisition, the insider now owns 87,047 shares in the company, valued at approximately $2,499,989.84. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PRU. Piper Sandler reduced their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. TD Cowen increased 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. Keefe, Bruyette & Woods decreased their target price on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group increased their price target on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Prudential Financial has an average rating of “Hold” and a consensus target price of $126.15.

Prudential Financial Stock Down 0.4 %

PRU stock opened at $110.35 on Monday. Prudential Financial, Inc. has a 52 week low of $104.45 and a 52 week high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm has a 50-day simple moving average of $113.57 and a 200-day simple moving average of $119.03. The stock has a market capitalization of $39.51 billion, a P/E ratio of 14.77, a P/E/G ratio of 0.98 and a beta of 1.28.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 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%. Equities analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is 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.