Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 54.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 316,770 shares of the financial services provider's stock after selling 376,991 shares during the period. Truist Financial Corp owned 0.09% of Prudential Financial worth $35,377,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Prudential Financial by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider's stock valued at $4,960,547,000 after buying an additional 220,671 shares in the last quarter. Geode Capital Management LLC grew its holdings in Prudential Financial by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 8,856,360 shares of the financial services provider's stock worth $1,050,635,000 after acquiring an additional 193,681 shares in the last quarter. Northern Trust Corp increased its holdings in Prudential Financial by 23.7% in the fourth quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock valued at $555,513,000 after buying an additional 897,916 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Prudential Financial by 11.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,410,363 shares of the financial services provider's stock valued at $404,230,000 after acquiring an additional 352,335 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Prudential Financial by 6.1% during the 4th quarter. Ameriprise Financial Inc. now owns 1,706,530 shares of the financial services provider's stock valued at $202,279,000 after buying an additional 97,406 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of Prudential Financial stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average price of $28.64 per share, with a total value of $48,000,009.92. Following the purchase, the insider owned 3,168,461 shares in the company, valued at approximately $90,744,723.04. This trade represents a 112.29% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PRU shares. Keefe, Bruyette & Woods dropped their target price on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 7th. JPMorgan Chase & Co. cut their price objective on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Morgan Stanley raised their target price on shares of Prudential Financial from $108.00 to $117.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Wells Fargo & Company upped their price objective on shares of Prudential Financial from $108.00 to $113.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Finally, Barclays decreased their price objective on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Prudential Financial currently has an average rating of "Hold" and a consensus price target of $120.15.

Prudential Financial Trading Up 0.9%

NYSE PRU opened at $109.60 on Monday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.65. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The firm's fifty day simple moving average is $104.87 and its 200-day simple moving average is $109.22. The company has a market capitalization of $38.80 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 1.04 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last issued 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 company had revenue of $13.61 billion for the quarter, compared to analyst estimates of $14.76 billion. Prudential Financial had a return on equity of 15.84% and a net margin of 3.84%. The business's revenue was down 38.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.12 EPS. As a group, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.93%. The ex-dividend date was Tuesday, May 20th. Prudential Financial's dividend payout ratio is 85.58%.

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.

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