Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Dakota Wealth Management

Dakota Wealth Management lessened its stake in Prudential Financial, Inc. (NYSE:PRU) by 5.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,160 shares of the financial services provider’s stock after selling 972 shares during the period. Dakota Wealth Management’s holdings in Prudential Financial were worth $1,915,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA boosted its holdings in Prudential Financial by 7.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock valued at $2,176,000 after purchasing an additional 1,234 shares in the last quarter. Avanza Fonder AB purchased a new stake in Prudential Financial in the 4th quarter valued at approximately $3,423,000. Gateway Investment Advisers LLC boosted its holdings in Prudential Financial by 56.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock valued at $2,607,000 after purchasing an additional 7,907 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Prudential Financial by 3.9% in the 3rd quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock valued at $50,830,000 after purchasing an additional 15,695 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Prudential Financial by 2.3% in the 3rd quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock valued at $9,597,000 after purchasing an additional 1,765 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the acquisition, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

PRU has been the topic of several research analyst reports. BMO Capital Markets initiated coverage on Prudential Financial in a research note on Thursday. They set an “underperform” rating and a $101.00 price target on the stock. Jefferies Financial Group boosted their price target on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company decreased their price target on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Piper Sandler decreased their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods reduced their target price on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $125.31.

Prudential Financial Trading Down 0.5 %

Shares of PRU opened at $116.75 on Friday. The stock has a fifty day moving average of $121.68 and a two-hundred day moving average of $120.69. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The company has a market capitalization of $41.56 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 1.11 and a beta of 1.31. Prudential Financial, Inc. has a fifty-two week low of $100.60 and a fifty-two week high of $130.55.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.01. The company had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period in the previous year, the firm posted $3.44 EPS. As a group, analysts forecast that Prudential Financial, Inc. will post 13.26 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders 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 dividend yield of 4.45%. Prudential Financial’s payout ratio is 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.