BI Asset Management Fondsmaeglerselskab A S Decreases Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

BI Asset Management Fondsmaeglerselskab A S lowered its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 31.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,260 shares of the financial services provider's stock after selling 12,485 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Prudential Financial were worth $3,231,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of PRU. Savant Capital LLC boosted its stake in shares of Prudential Financial by 0.6% in the 4th quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider's stock valued at $1,705,000 after purchasing an additional 83 shares in the last quarter. Grove Bank & Trust boosted its holdings in shares of Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 87 shares in the last quarter. HBK Sorce Advisory LLC grew its position in Prudential Financial by 1.0% during the 4th quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider's stock worth $1,116,000 after acquiring an additional 91 shares during the last quarter. Asset Dedication LLC raised its position in Prudential Financial by 28.4% in the fourth quarter. Asset Dedication LLC now owns 420 shares of the financial services provider's stock valued at $50,000 after purchasing an additional 93 shares during the last quarter. Finally, Altman Advisors Inc. boosted its stake in shares of Prudential Financial by 0.6% during the fourth quarter. Altman Advisors Inc. now owns 16,087 shares of the financial services provider's stock valued at $1,907,000 after purchasing an additional 94 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the business's 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 completion of the sale, the executive vice president now directly owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. The trade was a 18.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the transaction, 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 disclosure for this purchase can be found here. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of research reports. Piper Sandler dropped their price objective on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company dropped their price target on shares of Prudential Financial from $118.00 to $108.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. BMO Capital Markets started coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective on the stock. Morgan Stanley cut their target price on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Finally, Keefe, Bruyette & Woods decreased their price target on Prudential Financial from $125.00 to $120.00 and set a "market perform" rating for the company in a research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $121.85.

Prudential Financial Trading Down 1.1 %

Shares of Prudential Financial stock traded down $1.18 on Friday, reaching $102.85. 1,276,662 shares of the company's stock were exchanged, compared to its average volume of 1,607,162. The firm's 50-day moving average is $106.64 and its two-hundred day moving average is $116.22. The company has a market capitalization of $36.45 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Sell-side analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were issued a $1.35 dividend. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date was Tuesday, February 18th. Prudential Financial's dividend payout ratio (DPR) is currently 72.29%.

About Prudential Financial

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.