Bradley Foster & Sargent Inc. CT Cuts Position in Prudential Financial, Inc. (NYSE:PRU)

Bradley Foster & Sargent Inc. CT lowered its position in Prudential Financial, Inc. (NYSE:PRU) by 8.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,267 shares of the financial services provider’s stock after selling 288 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Prudential Financial were worth $387,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Centricity Wealth Management LLC purchased a new position in shares of Prudential Financial in the fourth quarter valued at $29,000. Handelsbanken Fonder AB increased its position in shares of Prudential Financial by 9.9% in the fourth quarter. Handelsbanken Fonder AB now owns 65,750 shares of the financial services provider’s stock valued at $7,793,000 after buying an additional 5,947 shares in the last quarter. LMG Wealth Partners LLC increased its position in shares of Prudential Financial by 1.5% in the fourth quarter. LMG Wealth Partners LLC now owns 72,024 shares of the financial services provider’s stock valued at $8,537,000 after buying an additional 1,081 shares in the last quarter. Bryn Mawr Capital Management LLC increased its position in shares of Prudential Financial by 828.7% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 53,743 shares of the financial services provider’s stock valued at $6,370,000 after buying an additional 47,956 shares in the last quarter. Finally, Convergence Investment Partners LLC increased its position in shares of Prudential Financial by 31.5% in the fourth quarter. Convergence Investment Partners LLC now owns 14,175 shares of the financial services provider’s stock valued at $1,680,000 after buying an additional 3,396 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on PRU shares. Wells Fargo & Company increased their price objective on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday. TD Cowen boosted their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Piper Sandler cut their target price 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. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and boosted their target price for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and a consensus price target of $125.69.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price 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 in the company, valued at $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Trading Down 1.5 %

NYSE PRU opened at $109.45 on Friday. Prudential Financial, Inc. has a 12 month low of $104.44 and a 12 month high of $130.55. The company has a 50-day moving average of $116.88 and a 200-day moving average of $119.71. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market cap of $39.18 billion, a P/E ratio of 14.65, a P/E/G ratio of 0.98 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data 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%. As a group, equities analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm 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 dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date is Tuesday, February 18th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio is 72.29%.

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.