Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Rise Advisors LLC

Rise Advisors LLC cut its holdings in Prudential Financial, Inc. (NYSE:PRU) by 5.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,115 shares of the financial services provider’s stock after selling 181 shares during the period. Rise Advisors LLC’s holdings in Prudential Financial were worth $369,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. State Street Corp grew its position in shares of Prudential Financial by 0.3% in the third quarter. State Street Corp now owns 17,007,013 shares of the financial services provider’s stock valued at $2,059,549,000 after purchasing an additional 49,830 shares during the last quarter. Geode Capital Management LLC increased its position in Prudential Financial by 4.1% during the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock worth $1,047,872,000 after buying an additional 341,787 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Prudential Financial by 9.4% in the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock worth $415,134,000 after acquiring an additional 305,143 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Prudential Financial by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider’s stock valued at $370,327,000 after acquiring an additional 47,561 shares in the last quarter. Finally, FMR LLC increased its position in Prudential Financial by 31.3% during the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock worth $174,903,000 after purchasing an additional 344,254 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Stock Up 1.2 %

Prudential Financial stock traded up $1.39 during trading on Tuesday, reaching $120.03. 339,457 shares of the company’s stock were exchanged, compared to its average volume of 833,199. The company’s 50-day moving average is $123.03 and its two-hundred day moving average is $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. Prudential Financial, Inc. has a 52-week low of $100.60 and a 52-week high of $130.55. The firm has a market cap of $42.73 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 0.87 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating the consensus estimate of $3.47 by $0.01. The business had revenue of $19.48 billion for 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 last year, the business posted $3.44 EPS. On average, analysts predict that Prudential Financial, Inc. will post 13.35 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s payout ratio is 46.22%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PRU. Wells Fargo & Company raised their price target on shares of Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and lifted their target price for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. Piper Sandler increased their price target on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Barclays lifted their price objective on Prudential Financial from $119.00 to $129.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, TD Cowen raised their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Eleven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $127.17.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the company’s stock in a transaction on Monday, November 25th. The shares were bought 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 of the company’s stock, valued at $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is currently owned by company insiders.

Prudential Financial 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.