Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC cut its holdings in Prudential Financial, Inc. (NYSE:PRU) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 74,257 shares of the financial services provider’s stock after selling 1,397 shares during the quarter. Pathstone Holdings LLC’s holdings in Prudential Financial were worth $8,993,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Legal & General Group Plc raised its holdings in Prudential Financial by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock worth $415,134,000 after buying an additional 305,143 shares during the period. abrdn plc increased its holdings in shares of Prudential Financial by 4.0% in the 3rd quarter. abrdn plc now owns 1,309,155 shares of the financial services provider’s stock valued at $158,120,000 after purchasing an additional 50,026 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Prudential Financial by 4,130.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock valued at $157,219,000 after purchasing an additional 1,267,571 shares during the period. AustralianSuper Pty Ltd increased its holdings in shares of Prudential Financial by 2.3% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,265,996 shares of the financial services provider’s stock valued at $153,312,000 after purchasing an additional 28,459 shares during the period. Finally, Swiss National Bank increased its holdings in shares of Prudential Financial by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,065,600 shares of the financial services provider’s stock valued at $129,044,000 after purchasing an additional 2,700 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Stock Up 1.7 %

Shares of Prudential Financial stock opened at $126.26 on Friday. The stock has a market capitalization of $44.95 billion, a P/E ratio of 11.22, a PEG ratio of 0.89 and a beta of 1.29. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average price of $123.06 and a two-hundred day moving average price of $119.61. Prudential Financial, Inc. has a 12-month low of $93.99 and a 12-month high of $129.13.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The firm had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the prior year, the business earned $3.44 earnings per share. Equities analysts expect that Prudential Financial, Inc. will post 13.33 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be given a $1.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.12%. Prudential Financial’s dividend payout ratio is 46.22%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. TD Cowen assumed coverage on Prudential Financial in a report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 target price on the stock. Evercore ISI upgraded 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. Bank of America upped their target price on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Argus raised Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, UBS Group boosted their price target on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Eleven equities research 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $125.69.

Insider Activity

In related news, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was 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 directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. This represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was purchased at an average price of $27.58 per share, with a total value 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 $116,071,781.42. This represents a 6.61 % increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is owned by company insiders.

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.