Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lowered its holdings in Prudential Financial, Inc. (NYSE:PRU) by 4.2% in the first quarter, Holdings Channel.com reports. The fund owned 33,117 shares of the financial services provider’s stock after selling 1,446 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Prudential Financial were worth $3,888,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PRU. Vanguard Group Inc. lifted its holdings in Prudential Financial by 13.9% in the fourth quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock valued at $4,386,192,000 after acquiring an additional 5,154,865 shares during the period. International Assets Investment Management LLC lifted its holdings in Prudential Financial by 9,281.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock valued at $141,962,000 after acquiring an additional 1,354,248 shares during the period. Norges Bank acquired a new position in shares of Prudential Financial during the 4th quarter worth $113,478,000. Dimensional Fund Advisors LP raised its stake in shares of Prudential Financial by 10.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock worth $414,926,000 after buying an additional 388,363 shares during the last quarter. Finally, abrdn plc raised its stake in shares of Prudential Financial by 37.5% during the 4th quarter. abrdn plc now owns 1,107,210 shares of the financial services provider’s stock worth $114,829,000 after buying an additional 302,164 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In related news, SVP Timothy L. Schmidt sold 5,189 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total transaction of $604,933.62. Following the transaction, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Robert Falzon sold 130,092 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the transaction, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Timothy L. Schmidt sold 5,189 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the transaction, the senior vice president now directly owns 12,236 shares in the company, valued at $1,426,472.88. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

PRU has been the subject of several research reports. Wells Fargo & Company lifted their price target on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research note on Thursday, April 11th. Piper Sandler cut their price target on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Evercore ISI lifted their price target on Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research note on Thursday, April 25th. Keefe, Bruyette & Woods boosted their target price on shares of Prudential Financial from $118.00 to $121.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Finally, Jefferies Financial Group cut their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $116.67.

Prudential Financial Stock Up 0.7 %

Shares of NYSE:PRU opened at $123.27 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a 1 year low of $87.95 and a 1 year high of $124.19. The stock has a market capitalization of $44.25 billion, a P/E ratio of 20.96, a PEG ratio of 0.92 and a beta of 1.34. The stock has a 50-day simple moving average of $117.89 and a 200-day simple moving average of $111.99.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The firm had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. During the same quarter in the previous year, the firm posted $2.66 EPS. The firm’s revenue for the quarter was up 69.9% compared to the same quarter last year. Equities analysts forecast that Prudential Financial, Inc. will post 13.39 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date was Monday, May 20th. Prudential Financial’s payout ratio is currently 88.44%.

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.