Snowden Capital Advisors LLC Sells 6,365 Shares of Prudential Financial, Inc. (NYSE:PRU)

Snowden Capital Advisors LLC decreased its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 76.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,940 shares of the financial services provider's stock after selling 6,365 shares during the quarter. Snowden Capital Advisors LLC's holdings in Prudential Financial were worth $230,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Prudential Financial in the fourth quarter worth $115,878,000. Northern Trust Corp grew its holdings in shares of Prudential Financial by 23.7% in the 4th quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock worth $555,513,000 after acquiring an additional 897,916 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Prudential Financial during the fourth quarter valued at about $76,303,000. Marshall Wace LLP boosted its holdings in shares of Prudential Financial by 322.9% in the fourth quarter. Marshall Wace LLP now owns 711,102 shares of the financial services provider's stock worth $84,287,000 after buying an additional 542,964 shares during the period. Finally, Amundi raised its holdings in shares of Prudential Financial by 32.7% during the fourth quarter. Amundi now owns 1,535,514 shares of the financial services provider's stock valued at $181,851,000 after acquiring an additional 378,266 shares during the period. Institutional investors and hedge funds own 56.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PRU shares. Barclays lowered their target price on Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Piper Sandler cut their price target 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. UBS Group reduced their target price on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research note on Tuesday. Keefe, Bruyette & Woods cut their price objective on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. cut their target price on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Prudential Financial currently has a consensus rating of "Hold" and an average price target of $120.15.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the acquisition, the insider now owns 87,047 shares of the company's stock, valued at $2,499,989.84. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the sale, the executive vice president now owns 27,072 shares in the company, valued at $2,869,090.56. This represents a 18.14% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company's stock.

Prudential Financial Trading Up 2.6%

Shares of Prudential Financial stock traded up $2.63 during trading hours on Tuesday, hitting $104.55. The company's stock had a trading volume of 1,970,685 shares, compared to its average volume of 1,628,447. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market capitalization of $37.01 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. The stock has a 50 day moving average of $104.14 and a 200 day moving average of $113.12.

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

Prudential Financial Announces Dividend

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