Cornell Pochily Investment Advisors Inc. Lowers Holdings in Prudential Financial, Inc. (NYSE:PRU)

Cornell Pochily Investment Advisors Inc. lowered its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 9.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,793 shares of the financial services provider’s stock after selling 198 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in Prudential Financial were worth $213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. State Street Corp lifted its stake in Prudential Financial by 0.3% in the 3rd 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 in the last quarter. Geode Capital Management LLC increased 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 worth $1,047,872,000 after purchasing an additional 341,787 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Prudential Financial by 9.4% in the second 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake 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 buying an additional 47,561 shares during the last quarter. Finally, FMR LLC increased its stake in Prudential Financial by 31.3% in the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock worth $174,903,000 after acquiring an additional 344,254 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of $27.92 per share, with a total value 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Trading Up 0.3 %

PRU opened at $117.22 on Monday. Prudential Financial, Inc. has a 12 month low of $100.60 and a 12 month high of $130.55. The stock has a fifty day moving average price of $121.29 and a 200-day moving average price of $120.68. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The firm has a market cap of $41.73 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 1.09 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating 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 company had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same period last year, the business posted $3.44 earnings per share. As a group, equities research analysts anticipate that Prudential Financial, Inc. will post 13.24 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.44%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s dividend payout ratio is presently 46.22%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PRU shares. Keefe, Bruyette & Woods cut their target price on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a report on Thursday, January 16th. Barclays upped their target price on shares of Prudential Financial from $127.00 to $128.00 and gave the company an “equal weight” rating in a research report on Thursday. Piper Sandler dropped their price target 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. BMO Capital Markets began coverage on Prudential Financial in a research report on Thursday. They set an “underperform” rating and a $101.00 price objective on the stock. Finally, Bank of America boosted their target price on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $125.31.

Prudential Financial 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.