Charles Schwab Investment Management Inc. Has $243.37 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

Charles Schwab Investment Management Inc. boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,346,612 shares of the financial services provider's stock after buying an additional 72,696 shares during the period. Charles Schwab Investment Management Inc. owned 0.65% of Prudential Financial worth $243,367,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in PRU. Cambridge Trust Co. boosted its holdings in Prudential Financial by 77.2% in the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider's stock worth $25,000 after acquiring an additional 105 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of Prudential Financial in the 4th quarter valued at $26,000. Headinvest LLC purchased a new position in Prudential Financial in the 3rd quarter worth $27,000. Arlington Trust Co LLC lifted its position in Prudential Financial by 151.6% during the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider's stock worth $32,000 after acquiring an additional 185 shares during the period. Finally, Ritter Daniher Financial Advisory LLC DE acquired a new position in shares of Prudential Financial in the third quarter valued at about $39,000. Institutional investors own 56.83% of the company's stock.

Insider Buying and Selling at Prudential Financial

In related news, SVP Timothy L. Schmidt sold 5,189 shares of the firm's stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total transaction of $604,933.62. Following the completion of the sale, the senior vice president now directly owns 12,236 shares of the company's stock, valued at approximately $1,426,472.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Timothy L. Schmidt sold 5,189 shares of the firm's stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total transaction of $604,933.62. Following the completion of the transaction, the senior vice president now directly owns 12,236 shares in the company, valued at $1,426,472.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Robert Axel sold 6,436 shares of the business's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total value of $719,930.96. Following the completion of the sale, the senior vice president now owns 7,901 shares in the company, valued at approximately $883,805.86. The disclosure for this sale can be found here. Insiders have sold 34,444 shares of company stock worth $3,820,597 over the last quarter. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PRU shares. Morgan Stanley raised their price target on shares of Prudential Financial from $109.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Monday, April 15th. Raymond James lowered Prudential Financial from a "strong-buy" rating to a "market perform" rating in a research note on Friday, February 9th. Piper Sandler lowered their target price on Prudential Financial from $125.00 to $121.00 and set a "neutral" rating on the stock in a research note on Monday. UBS Group boosted their price target on Prudential Financial from $108.00 to $112.00 and gave the company a "neutral" rating in a report on Monday, February 12th. Finally, Wells Fargo & Company lifted their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the company an "underweight" rating in a report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. Based on data from MarketBeat.com, Prudential Financial currently has a consensus rating of "Hold" and an average price target of $111.08.

Prudential Financial Trading Up 1.1 %

NYSE PRU traded up $1.28 on Thursday, reaching $117.97. 1,154,454 shares of the company were exchanged, compared to its average volume of 1,517,279. Prudential Financial, Inc. has a fifty-two week low of $77.87 and a fifty-two week high of $118.69. The stock has a market capitalization of $42.35 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 0.83 and a beta of 1.35. The business's fifty day moving average price is $112.65 and its 200 day moving average price is $104.87. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.04). The firm had revenue of $15.01 billion for the quarter, compared to analyst estimates of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. Prudential Financial's revenue for the quarter was up 69.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.66 earnings per share. Analysts forecast that Prudential Financial, Inc. will post 13.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 21st will be given a $1.30 dividend. The ex-dividend date is Monday, May 20th. This represents a $5.20 annualized dividend and a yield of 4.41%. Prudential Financial's payout ratio is 88.44%.

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.