Handelsbanken Fonder AB Has $10.19 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Handelsbanken Fonder AB trimmed its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 21.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,292 shares of the financial services provider's stock after selling 27,486 shares during the period. Handelsbanken Fonder AB's holdings in Prudential Financial were worth $10,194,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PRU. International Assets Investment Management LLC raised its holdings in shares of Prudential Financial by 9,281.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider's stock worth $141,962,000 after acquiring an additional 1,354,248 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Prudential Financial in the third quarter worth about $34,251,000. abrdn plc lifted its position in shares of Prudential Financial by 37.5% in the fourth quarter. abrdn plc now owns 1,107,210 shares of the financial services provider's stock worth $114,829,000 after buying an additional 302,164 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Prudential Financial by 39.2% in the third quarter. Envestnet Asset Management Inc. now owns 1,004,087 shares of the financial services provider's stock worth $95,278,000 after buying an additional 282,667 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Prudential Financial by 80.6% in the third quarter. AQR Capital Management LLC now owns 562,875 shares of the financial services provider's stock worth $53,411,000 after buying an additional 251,269 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Price Performance

Shares of PRU traded down $1.58 on Thursday, hitting $111.18. The company's stock had a trading volume of 909,301 shares, compared to its average volume of 1,509,693. The company has a market capitalization of $39.91 billion, a PE ratio of 16.58, a PEG ratio of 0.76 and a beta of 1.37. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial, Inc. has a fifty-two week low of $77.22 and a fifty-two week high of $118.69. The company has a 50 day moving average price of $111.65 and a 200 day moving average price of $103.56.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.09). The business had revenue of $13.02 billion during the quarter, compared to analyst estimates of $12.99 billion. Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The firm's revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.42 earnings per share. On average, research analysts anticipate that Prudential Financial, Inc. will post 13.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Tuesday, February 20th were issued a dividend of $1.30 per share. This is an increase from Prudential Financial's previous quarterly dividend of $1.25. The ex-dividend date was Friday, February 16th. This represents a $5.20 annualized dividend and a yield of 4.68%. Prudential Financial's dividend payout ratio is currently 77.73%.

Insiders Place Their Bets

In other Prudential Financial news, SVP Timothy L. Schmidt sold 7,912 shares of the company's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total transaction of $855,524.56. Following the transaction, the senior vice president now owns 14,754 shares of the company's stock, valued at approximately $1,595,350.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Timothy L. Schmidt sold 7,912 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the transaction, the senior vice president now owns 14,754 shares of the company's stock, valued at approximately $1,595,350.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total value of $782,792.58. Following the completion of the transaction, the executive vice president now directly owns 24,381 shares in the company, valued at approximately $2,642,656.59. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,255 shares of company stock valued at $3,215,664. 0.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PRU shares. UBS Group boosted their price target on Prudential Financial from $108.00 to $112.00 and gave the stock a "neutral" rating in a research report on Monday, February 12th. Piper Sandler boosted their price objective on Prudential Financial from $114.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday, April 5th. TheStreet raised Prudential Financial from a "c+" rating to an "a-" rating in a research report on Tuesday, February 6th. Morgan Stanley boosted their price objective on Prudential Financial from $109.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Monday, April 15th. Finally, Evercore ISI boosted their price objective on Prudential Financial from $115.00 to $116.00 and gave the stock an "underperform" rating in a research report on Thursday. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $111.42.

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.