Ameriprise Financial Inc. lifted its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,706,530 shares of the financial services provider's stock after acquiring an additional 97,406 shares during the period. Ameriprise Financial Inc. owned approximately 0.48% of Prudential Financial worth $202,279,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Savant Capital LLC lifted its position in shares of Prudential Financial by 0.6% in the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider's stock worth $1,705,000 after buying an additional 83 shares in the last quarter. Grove Bank & Trust boosted its position 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 during the last quarter. HBK Sorce Advisory LLC grew its holdings in shares of Prudential Financial by 1.0% in the fourth quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider's stock valued at $1,116,000 after purchasing an additional 91 shares in the last quarter. Asset Dedication LLC raised its stake in Prudential Financial by 28.4% during 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 in the last quarter. Finally, Altman Advisors Inc. lifted its position in 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 during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Prudential Financial
In other news, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the sale, the executive vice president now directly owns 27,072 shares of the company's stock, valued at $2,869,090.56. This represents a 18.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was acquired at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the purchase, the insider now owns 139,987 shares in the company, valued at $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. Company insiders own 0.25% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. dropped their target price on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Piper Sandler decreased their price objective 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. UBS Group reduced their target price on shares of Prudential Financial from $130.00 to $122.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. BMO Capital Markets started coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective on the stock. Finally, Barclays dropped their price target on Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, Prudential Financial has a consensus rating of "Hold" and a consensus target price of $121.92.
Get Our Latest Stock Analysis on PRU
Prudential Financial Stock Performance
Shares of PRU stock traded up $3.58 during mid-day trading on Monday, reaching $107.17. The stock had a trading volume of 373,383 shares, compared to its average volume of 1,857,638. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The firm has a market cap of $37.94 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 0.98 and a beta of 1.07. The business's fifty day moving average is $104.89 and its 200-day moving average is $114.53.
Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share for the quarter, beating analysts' consensus estimates of $3.18 by $0.11. The business had revenue of $13.61 billion during the quarter, compared to analyst estimates of $14.76 billion. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The company's revenue was down 38.2% on a year-over-year basis. During the same quarter last year, the business posted $3.12 EPS. On average, research analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.
Prudential Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 5.04%. The ex-dividend date is Tuesday, May 20th. Prudential Financial's dividend payout ratio (DPR) is 85.58%.
About Prudential Financial
(
Free Report)
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.
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