Intech Investment Management LLC Has $1.81 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Intech Investment Management LLC lessened its holdings in Prudential Financial, Inc. (NYSE:PRU) by 14.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,980 shares of the financial services provider’s stock after selling 2,590 shares during the quarter. Intech Investment Management LLC’s holdings in Prudential Financial were worth $1,814,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Altman Advisors Inc. lifted its position in Prudential Financial by 0.8% during the 3rd quarter. Altman Advisors Inc. now owns 15,993 shares of the financial services provider’s stock worth $1,937,000 after buying an additional 128 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Prudential Financial in the third quarter valued at about $48,000. First Horizon Advisors Inc. boosted its position in Prudential Financial by 4.3% during the third quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider’s stock valued at $19,701,000 after purchasing an additional 6,641 shares during the last quarter. Commerce Bank increased its position in shares of Prudential Financial by 7.1% during the 3rd quarter. Commerce Bank now owns 16,770 shares of the financial services provider’s stock worth $2,031,000 after purchasing an additional 1,114 shares during the last quarter. Finally, Strategy Asset Managers LLC bought a new stake in shares of Prudential Financial during the 3rd quarter worth approximately $588,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on PRU. Morgan Stanley dropped their price target on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their target price for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Barclays lifted their price target on Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. TD Cowen assumed coverage on Prudential Financial in a research report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 price objective for the company. Finally, Piper Sandler lifted their target price on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Eleven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $125.69.

Prudential Financial Price Performance

NYSE:PRU opened at $127.89 on Monday. Prudential Financial, Inc. has a 52 week low of $94.92 and a 52 week high of $129.13. 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 firm’s 50-day simple moving average is $123.30 and its 200 day simple moving average is $119.74. The firm has a market cap of $45.53 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 0.90 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 6.03% and a return on equity of 15.30%. During the same period in the previous year, the business earned $3.44 earnings per share. As a group, sell-side analysts predict that Prudential Financial, Inc. will post 13.33 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s payout ratio is currently 46.22%.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was purchased at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, the insider now directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This trade represents a 6.61 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the transaction, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. The trade was a 9.84 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by 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.