Harvey Capital Management Inc. Sells 166 Shares of Prudential Financial, Inc. (NYSE:PRU)

Harvey Capital Management Inc. lessened its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,032 shares of the financial services provider’s stock after selling 166 shares during the period. Harvey Capital Management Inc.’s holdings in Prudential Financial were worth $1,308,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC boosted its position in 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 buying an additional 1,267,571 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Prudential Financial by 176.8% in the fourth quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock valued at $123,804,000 after purchasing an additional 665,180 shares during the period. FMR LLC grew its stake in Prudential Financial by 31.3% in the third 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. Geode Capital Management LLC increased its holdings in Prudential Financial by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock worth $1,047,872,000 after purchasing an additional 341,787 shares during the period. Finally, Capital Advisors Inc. OK bought a new stake in Prudential Financial during the 3rd quarter valued at $30,226,000. Institutional investors own 56.83% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PRU. Jefferies Financial Group raised their price target on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods reduced their price target on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday. Barclays increased their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Piper Sandler reduced their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, TD Cowen increased their target price on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued 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 target price of $125.46.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of Prudential Financial stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the transaction, the insider now owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This represents a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently owned by company insiders.

Prudential Financial Trading Down 0.4 %

Shares of NYSE:PRU opened at $111.68 on Wednesday. The business’s 50-day moving average is $118.78 and its 200 day moving average is $120.07. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.14. Prudential Financial, Inc. has a 1 year low of $104.02 and a 1 year high of $130.55. The firm has a market capitalization of $39.76 billion, a P/E ratio of 14.95, a P/E/G ratio of 1.00 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. On average, research analysts predict that Prudential Financial, Inc. will post 14.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.84%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s dividend payout ratio is presently 69.61%.

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.