Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Peoples Bank OH

Peoples Bank OH reduced its holdings in Prudential Financial, Inc. (NYSE:PRU) by 27.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,622 shares of the financial services provider’s stock after selling 987 shares during the quarter. Peoples Bank OH’s holdings in Prudential Financial were worth $311,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its position in Prudential Financial by 0.3% during the third quarter. State Street Corp now owns 17,007,013 shares of the financial services provider’s stock valued at $2,059,549,000 after acquiring an additional 49,830 shares during the period. Geode Capital Management LLC grew its position in Prudential Financial by 4.1% during 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Prudential Financial by 1.6% during 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 valued at $370,327,000 after acquiring an additional 47,561 shares during the period. FMR LLC grew its position in Prudential Financial by 31.3% during the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after acquiring an additional 344,254 shares during the period. Finally, abrdn plc grew its position in Prudential Financial by 4.0% during the third quarter. abrdn plc now owns 1,309,155 shares of the financial services provider’s stock valued at $158,120,000 after acquiring an additional 50,026 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the business’s stock in a transaction on Monday, November 25th. The shares were purchased at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the purchase, the insider now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Piper Sandler decreased their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and upped their target price for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. Keefe, Bruyette & Woods decreased their target price on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. TD Cowen upped their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Finally, BMO Capital Markets assumed coverage on Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $125.69.

Prudential Financial Trading Down 0.5 %

Shares of PRU opened at $111.08 on Friday. The company has a market capitalization of $39.77 billion, a P/E ratio of 14.87, a P/E/G ratio of 0.99 and a beta of 1.31. Prudential Financial, Inc. has a one year low of $104.44 and a one year high of $130.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a 50-day moving average price of $117.10 and a 200 day moving average price of $119.59.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS 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%. Sell-side analysts forecast that Prudential Financial, Inc. will post 14.34 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $1.35 per share. The ex-dividend date is Tuesday, February 18th. This represents a $5.40 annualized dividend and a yield of 4.86%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio is presently 72.29%.

About Prudential Financial

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.