Crossmark Global Holdings Inc. lowered its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 6.5% in the fourth quarter, HoldingsChannel reports. The firm owned 48,835 shares of the financial services provider’s stock after selling 3,373 shares during the period. Crossmark Global Holdings Inc.’s holdings in Prudential Financial were worth $4,578,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the stock. Rational Advisors LLC grew its holdings in Prudential Financial by 1,315.1% during the fourth quarter. Rational Advisors LLC now owns 750 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 697 shares during the period. Palladium Partners LLC bought a new position in Prudential Financial during the fourth quarter worth about $7,686,000. Point View Wealth Management Inc. grew its holdings in Prudential Financial by 25.3% during the fourth quarter. Point View Wealth Management Inc. now owns 10,257 shares of the financial services provider’s stock worth $961,000 after purchasing an additional 2,071 shares during the period. Venture Visionary Partners LLC bought a new position in Prudential Financial during the fourth quarter worth about $321,000. Finally, Flippin Bruce & Porter Inc. grew its holdings in Prudential Financial by 3.7% during the fourth quarter. Flippin Bruce & Porter Inc. now owns 78,437 shares of the financial services provider’s stock worth $7,353,000 after purchasing an additional 2,808 shares during the period. Institutional investors and hedge funds own 62.01% of the company’s stock.
Shares of PRU stock opened at $94.48 on Friday. The firm has a 50 day moving average price of $94.12 and a two-hundred day moving average price of $90.61. The company has a quick ratio of 0.11, a current ratio of 0.10 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $38.42 billion, a PE ratio of 8.18, a price-to-earnings-growth ratio of 0.87 and a beta of 1.53. Prudential Financial Inc has a 12-month low of $77.65 and a 12-month high of $106.39.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Tuesday, February 18th will be given a dividend of $1.10 per share. The ex-dividend date is Friday, February 14th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a yield of 4.66%. Prudential Financial’s dividend payout ratio (DPR) is 34.22%.
In other news, EVP Robert Falzon sold 39,748 shares of Prudential Financial stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $96.44, for a total value of $3,833,297.12. Following the completion of the sale, the executive vice president now directly owns 85,396 shares in the company, valued at $8,235,590.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Charles F. Lowrey sold 33,603 shares of Prudential Financial stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $96.32, for a total transaction of $3,236,640.96. Following the completion of the sale, the chief executive officer now owns 95,189 shares of the company’s stock, valued at $9,168,604.48. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by insiders.
PRU has been the subject of a number of research analyst reports. Citigroup cut Prudential Financial from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $88.00 to $86.00 in a report on Monday, November 25th. Wells Fargo & Co downgraded shares of Prudential Financial from an “outperform” rating to a “market perform” rating and set a $92.00 price objective for the company. in a research report on Tuesday, November 5th. Royal Bank of Canada restated a “buy” rating and set a $110.00 price objective on shares of Prudential Financial in a research report on Sunday, December 22nd. ValuEngine downgraded shares of Prudential Financial from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods downgraded shares of Prudential Financial from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $107.00 to $102.00 in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $97.33.
About Prudential Financial
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
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