Janus Henderson Group PLC Reduces Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Janus Henderson Group PLC reduced its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 33.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,019 shares of the financial services provider's stock after selling 26,237 shares during the quarter. Janus Henderson Group PLC's holdings in Prudential Financial were worth $6,287,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Grove Bank & Trust grew its position 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. Centricity Wealth Management LLC acquired a new stake in Prudential Financial in the fourth quarter valued at approximately $29,000. CGC Financial Services LLC increased its holdings in shares of Prudential Financial by 82.1% during the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new position in shares of Prudential Financial during the fourth quarter worth approximately $33,000. Finally, Hopwood Financial Services Inc. acquired a new position in shares of Prudential Financial during the fourth quarter worth approximately $34,000. Institutional investors own 56.83% of the company's stock.

Prudential Financial Stock Performance

PRU traded up $1.11 during trading hours on Thursday, hitting $102.91. The stock had a trading volume of 660,634 shares, compared to its average volume of 1,850,005. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The company's fifty day simple moving average is $104.63 and its 200 day simple moving average is $113.68. The stock has a market cap of $36.43 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. 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 (NYSE:PRU - Get Free Report) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.11. The firm had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $14.76 billion. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. The company's revenue was down 38.2% on a year-over-year basis. During the same quarter last year, the company earned $3.12 earnings per share. Equities analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date of this dividend is Tuesday, May 20th. Prudential Financial's payout ratio is presently 85.58%.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of Prudential Financial stock in a transaction that occurred on Tuesday, March 25th. The shares were acquired at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the transaction, the insider now directly owns 139,987 shares in the company, valued at $3,992,429.24. The trade was a 60.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were 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 owns 27,072 shares of the company's stock, valued at $2,869,090.56. The trade was a 18.14% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

PRU has been the subject of a number of recent research reports. Morgan Stanley boosted their price target on shares of Prudential Financial from $108.00 to $117.00 and gave the company an "equal weight" rating in a research note on Monday. Keefe, Bruyette & Woods decreased their target price on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a research report on Wednesday, May 7th. UBS Group lowered their target price on shares of Prudential Financial from $130.00 to $122.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. JPMorgan Chase & Co. cut their price target on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Finally, Piper Sandler lowered their price objective on Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $121.08.

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.