Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 75,696 shares of the financial services provider’s stock after selling 2,019 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Prudential Financial were worth $8,972,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Berkeley Capital Partners LLC lifted its holdings in Prudential Financial by 2.5% during the 4th quarter. Berkeley Capital Partners LLC now owns 5,100 shares of the financial services provider’s stock worth $605,000 after buying an additional 126 shares in the last quarter. iA Global Asset Management Inc. lifted its holdings in Prudential Financial by 291.5% during the 4th quarter. iA Global Asset Management Inc. now owns 6,809 shares of the financial services provider’s stock worth $807,000 after buying an additional 5,070 shares in the last quarter. Algebris UK Ltd lifted its holdings in Prudential Financial by 79.5% during the 4th quarter. Algebris UK Ltd now owns 218,412 shares of the financial services provider’s stock worth $24,951,000 after buying an additional 96,725 shares in the last quarter. Vinva Investment Management Ltd lifted its holdings in Prudential Financial by 13.2% during the 4th quarter. Vinva Investment Management Ltd now owns 18,742 shares of the financial services provider’s stock worth $2,214,000 after buying an additional 2,186 shares in the last quarter. Finally, Xponance Inc. increased its position in shares of Prudential Financial by 7.1% in the 4th quarter. Xponance Inc. now owns 54,424 shares of the financial services provider’s stock valued at $6,451,000 after purchasing an additional 3,589 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PRU has been the topic of a number of recent analyst reports. TD Cowen increased their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Wells Fargo & Company increased 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 report on Wednesday, February 19th. Morgan Stanley dropped their price objective on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Piper Sandler dropped 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 report on Thursday, January 16th. Finally, BMO Capital Markets assumed coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective on the stock. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Prudential Financial presently has an average rating of “Hold” and a consensus target price of $126.15.

Prudential Financial Trading Down 0.4 %

NYSE PRU opened at $110.35 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market cap of $39.51 billion, a PE ratio of 14.77, a P/E/G ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a one year low of $104.45 and a one year high of $130.55. The firm’s fifty day moving average is $113.57 and its two-hundred day moving average is $119.05.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data 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%. Analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were paid a $1.35 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.89%. The ex-dividend date was Tuesday, February 18th. Prudential Financial’s payout ratio is currently 72.29%.

Insiders Place Their Bets

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 shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the transaction, the executive vice president now owns 27,072 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the transaction, the insider now owns 87,047 shares in the company, valued at $2,499,989.84. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is owned by insiders.

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.