USS Investment Management Ltd Sells 6,578 Shares of Prudential Financial, Inc. (NYSE:PRU)

USS Investment Management Ltd reduced its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 11.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,433 shares of the financial services provider's stock after selling 6,578 shares during the quarter. USS Investment Management Ltd's holdings in Prudential Financial were worth $5,980,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Orca Wealth Management LLC acquired a new stake in shares of Prudential Financial in the 4th quarter worth about $3,424,000. CX Institutional increased its position in Prudential Financial by 32.6% in the 4th quarter. CX Institutional now owns 43,724 shares of the financial services provider's stock valued at $5,183,000 after acquiring an additional 10,751 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in Prudential Financial by 1.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 205,595 shares of the financial services provider's stock valued at $24,369,000 after acquiring an additional 3,235 shares in the last quarter. Capital Advisors Inc. OK grew its stake in shares of Prudential Financial by 5.1% in the fourth quarter. Capital Advisors Inc. OK now owns 262,238 shares of the financial services provider's stock worth $31,083,000 after purchasing an additional 12,644 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Prudential Financial during the fourth quarter valued at about $2,897,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PRU has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price objective on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Piper Sandler cut their price target on shares of Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Barclays dropped their target price on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Keefe, Bruyette & Woods decreased their price objective on 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. Finally, Morgan Stanley increased their price target on shares of Prudential Financial from $108.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, ten have assigned 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 company presently has an average rating of "Hold" and an average price target of $120.15.

Insider Activity at Prudential Financial

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the sale, the executive vice president now owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. This represents a 18.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of Prudential Financial stock in a transaction on Tuesday, March 25th. The stock was purchased at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the transaction, the insider now owns 139,987 shares of the company's stock, valued at approximately $3,992,429.24. This represents a 60.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.25% of the stock is owned by corporate insiders.

Prudential Financial Stock Up 2.6%

Shares of NYSE:PRU traded up $2.69 on Tuesday, reaching $104.61. The company had a trading volume of 964,468 shares, compared to its average volume of 1,844,713. The stock has a market capitalization of $37.03 billion, a P/E ratio of 14.01, a P/E/G ratio of 0.98 and a beta of 1.07. The stock has a 50-day moving average price of $104.14 and a 200 day moving average price of $113.12. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month 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.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, beating analysts' consensus estimates of $3.18 by $0.11. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. The company had revenue of $13.61 billion for the quarter, compared to analyst estimates of $14.76 billion. During the same quarter last year, the firm posted $3.12 earnings per share. The company's quarterly revenue was down 38.2% compared to the same quarter last year. On average, equities analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Tuesday, May 20th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 5.16%. The ex-dividend date is Tuesday, May 20th. Prudential Financial's payout ratio is currently 85.58%.

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.