Prudential Financial, Inc. (NYSE:PRU) Holdings Decreased by Northcape Wealth Management LLC

Northcape Wealth Management LLC trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,991 shares of the financial services provider’s stock after selling 107 shares during the period. Northcape Wealth Management LLC’s holdings in Prudential Financial were worth $236,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PRU. Savant Capital LLC grew its holdings in shares of Prudential Financial by 0.6% during the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock valued at $1,705,000 after purchasing an additional 83 shares during the last quarter. Grove Bank & Trust grew its stake in Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares during the last quarter. Avidian Wealth Enterprises LLC increased its position in Prudential Financial by 1.2% in the third quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock worth $891,000 after buying an additional 89 shares during the period. Asset Dedication LLC lifted its stake in Prudential Financial by 28.4% in the fourth quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock valued at $50,000 after buying an additional 93 shares during the last quarter. Finally, RNC Capital Management LLC grew its position in shares of Prudential Financial by 3.3% during the fourth quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider’s stock worth $354,000 after acquiring an additional 95 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PRU shares. Jefferies Financial Group boosted their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Piper Sandler decreased their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. TD Cowen lifted their target price on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. BMO Capital Markets began coverage on Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price target on the stock. Finally, Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their price objective for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. 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. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $125.46.

Prudential Financial Price Performance

NYSE PRU opened at $111.71 on Wednesday. Prudential Financial, Inc. has a 1 year low of $104.44 and a 1 year high of $130.55. The business’s fifty day moving average is $117.46 and its two-hundred day moving average is $119.71. The stock has a market capitalization of $39.99 billion, a P/E ratio of 14.95, a P/E/G ratio of 0.99 and a beta of 1.31. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts’ consensus estimates 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 forecast that Prudential Financial, Inc. will post 14.34 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.83%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is currently 69.61%.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction dated Monday, November 25th. The stock was bought at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the acquisition, the insider now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

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.