Ensign Peak Advisors Inc Sells 12,547 Shares of Prudential Financial, Inc. (NYSE:PRU)

Ensign Peak Advisors Inc decreased its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 10.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 104,712 shares of the financial services provider's stock after selling 12,547 shares during the quarter. Ensign Peak Advisors Inc's holdings in Prudential Financial were worth $12,412,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of PRU. Vanguard Group Inc. lifted its holdings in shares of Prudential Financial by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider's stock valued at $4,960,547,000 after buying an additional 220,671 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Prudential Financial by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 8,856,360 shares of the financial services provider's stock valued at $1,050,635,000 after buying an additional 193,681 shares during the period. Northern Trust Corp lifted its holdings in shares of Prudential Financial by 23.7% in the fourth quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock valued at $555,513,000 after buying an additional 897,916 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Prudential Financial by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,454,278 shares of the financial services provider's stock valued at $290,906,000 after buying an additional 6,938 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Prudential Financial by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,409,521 shares of the financial services provider's stock valued at $285,601,000 after buying an additional 26,210 shares during the period. Institutional investors own 56.83% of the company's stock.

Prudential Financial Stock Down 1.2%

Prudential Financial stock traded down $1.24 during mid-day trading on Wednesday, hitting $106.16. The company's stock had a trading volume of 1,757,271 shares, compared to its average volume of 1,619,354. The firm's 50 day moving average is $104.77 and its 200 day moving average is $114.37. The company has a market cap of $37.58 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick 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 Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.11. The firm had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $14.76 billion. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The business's revenue for the quarter was down 38.2% on a year-over-year basis. During the same period in the prior year, the business earned $3.12 EPS. On average, analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date is Tuesday, May 20th. Prudential Financial's dividend payout ratio (DPR) is presently 85.58%.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the acquisition, the insider now owns 87,047 shares in the company, valued at approximately $2,499,989.84. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the sale, the executive vice president now 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 disclosure for this sale can be found here. Company insiders own 0.25% of the company's stock.

Analyst Ratings Changes

PRU has been the subject of several research analyst reports. Morgan Stanley cut their price objective on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. Keefe, Bruyette & Woods cut their price objective on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a report on Wednesday, May 7th. Piper Sandler reduced their target price on Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Barclays reduced their target price on Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Finally, UBS Group reduced their target price on Prudential Financial from $130.00 to $122.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Prudential Financial presently has an average rating of "Hold" and a consensus target price of $121.92.

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.