Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. trimmed its holdings in Prudential Financial, Inc. (NYSE:PRU) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,274 shares of the financial services provider’s stock after selling 164 shares during the quarter. Fulton Bank N.A.’s holdings in Prudential Financial were worth $744,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on PRU shares. TD Cowen upped their price objective on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price objective for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. Bank of America increased their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Barclays lifted their price target on shares of Prudential Financial from $119.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Piper Sandler raised their price objective 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 equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $127.17.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the acquisition, the insider now owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.31% of the stock is owned by corporate insiders.

Prudential Financial Trading Down 0.7 %

NYSE:PRU opened at $118.36 on Friday. The stock’s 50-day moving average is $122.65 and its two-hundred day moving average is $120.67. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The stock has a market cap of $42.14 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 0.87 and a beta of 1.31. Prudential Financial, Inc. has a fifty-two week low of $100.60 and a fifty-two week high of $130.55.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The firm had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the prior year, the business earned $3.44 EPS. As a group, equities research analysts forecast that Prudential Financial, Inc. will post 13.35 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.39%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s payout ratio is currently 46.22%.

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.