Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Strategy Asset Managers LLC

Strategy Asset Managers LLC trimmed its position in Prudential Financial, Inc. (NYSE:PRU) by 8.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,425 shares of the financial services provider’s stock after selling 430 shares during the period. Strategy Asset Managers LLC’s holdings in Prudential Financial were worth $524,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Glenmede Trust Co. NA boosted its holdings in shares of Prudential Financial by 7.4% in the third quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock valued at $2,176,000 after acquiring an additional 1,234 shares in the last quarter. Avanza Fonder AB purchased a new position in shares of Prudential Financial during the 4th quarter worth approximately $3,423,000. Gateway Investment Advisers LLC lifted its holdings in shares of Prudential Financial by 56.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock valued at $2,607,000 after buying an additional 7,907 shares during the period. Principal Financial Group Inc. grew its holdings in Prudential Financial by 3.9% during the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock worth $50,830,000 after acquiring an additional 15,695 shares during the period. Finally, Janus Henderson Group PLC raised its position in Prudential Financial by 2.3% in the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock worth $9,597,000 after acquiring an additional 1,765 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group increased their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report 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 research report on Wednesday, February 12th. Barclays upped their price target on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. 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 objective for the company. Finally, Morgan Stanley lowered their target price on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Prudential Financial has an average rating of “Hold” and an average price target of $126.15.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of Prudential Financial stock in a transaction dated Tuesday, March 25th. The shares were acquired at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the transaction, the insider now owns 139,987 shares of the company’s stock, valued at approximately $3,992,429.24. This trade represents a 60.18 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the sale, the executive vice president now directly owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Prudential Financial Stock Down 3.9 %

Shares of NYSE PRU opened at $109.94 on Friday. The firm’s 50 day moving average price is $113.09 and its 200 day moving average price is $118.92. 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 firm has a market cap of $39.36 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a 1 year low of $104.45 and a 1 year high of $130.55.

Prudential Financial (NYSE:PRU) last released its earnings results 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%. As a group, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were issued a $1.35 dividend. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.91%. The ex-dividend date was Tuesday, February 18th. Prudential Financial’s dividend payout ratio is currently 72.29%.

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.