Pacer Advisors Inc. Has $5.57 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Pacer Advisors Inc. trimmed its holdings in Prudential Financial, Inc. (NYSE:PRU) by 22.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,023 shares of the financial services provider’s stock after selling 13,690 shares during the quarter. Pacer Advisors Inc.’s holdings in Prudential Financial were worth $5,574,000 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. Grove Bank & Trust grew its position in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Prudential Financial in the third quarter worth $31,000. Quarry LP increased its holdings in Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after buying an additional 222 shares during the period. Retirement Wealth Solutions LLC bought a new position in shares of Prudential Financial during the 4th quarter worth about $37,000. Finally, Tompkins Financial Corp raised its position in Prudential Financial by 61.7% in the third quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Piper Sandler decreased their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Jefferies Financial Group boosted their price objective on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. TD Cowen boosted their target price on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Finally, Bank of America boosted their price target on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and an average target price of $125.31.

Prudential Financial Trading Up 1.0 %

NYSE PRU opened at $122.44 on Thursday. Prudential Financial, Inc. has a 12 month low of $100.60 and a 12 month high of $130.55. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $43.59 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 1.09 and a beta of 1.31. The business’s 50-day moving average price is $121.07 and its two-hundred day moving average price is $120.65.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The firm had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the previous year, the company earned $3.44 EPS. On average, analysts expect that Prudential Financial, Inc. will post 13.24 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were issued a dividend of $1.30 per share. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.25%. Prudential Financial’s payout ratio is currently 46.22%.

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.