Prudential Financial, Inc. (NYSE:PRU) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd cut its holdings in Prudential Financial, Inc. (NYSE:PRU) by 11.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 50,433 shares of the financial services provider’s stock after selling 6,578 shares during the period. USS Investment Management Ltd’s holdings in Prudential Financial were worth $5,980,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of PRU. Vanguard Group Inc. boosted its stake in Prudential Financial by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider’s stock valued at $4,960,547,000 after purchasing an additional 220,671 shares during the period. Geode Capital Management LLC raised its holdings in shares of Prudential Financial by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 8,856,360 shares of the financial services provider’s stock worth $1,050,635,000 after purchasing an additional 193,681 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Prudential Financial by 23.7% in the 4th quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider’s stock worth $555,513,000 after purchasing an additional 897,916 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Prudential Financial by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,454,278 shares of the financial services provider’s stock worth $290,906,000 after purchasing an additional 6,938 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Prudential Financial by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,409,521 shares of the financial services provider’s stock valued at $285,601,000 after acquiring an additional 26,210 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

PRU stock opened at $102.25 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $36.20 billion, a price-to-earnings ratio of 13.69, a P/E/G ratio of 0.98 and a beta of 1.07. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55. The firm has a 50 day moving average of $104.47 and a two-hundred day moving average of $113.56.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $3.18 by $0.11. The company had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $14.76 billion. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. The company’s revenue for the quarter was down 38.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.12 earnings per share. As a group, equities analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date of this dividend is Tuesday, May 20th. Prudential Financial’s payout ratio is 85.58%.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of Prudential Financial stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the purchase, the insider now owns 87,047 shares of the company’s stock, valued at $2,499,989.84. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the sale, the executive vice president now owns 27,072 shares of the company’s stock, valued at $2,869,090.56. The trade was a 18.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PRU shares. Keefe, Bruyette & Woods cut their price target on shares of Prudential Financial from $120.00 to $117.00 and set a “market perform” rating on the stock in a report on Wednesday, May 7th. Piper Sandler lowered their price objective on shares of Prudential Financial from $110.00 to $109.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. UBS Group lowered their price objective on shares of Prudential Financial from $130.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Morgan Stanley boosted their price objective on shares of Prudential Financial from $108.00 to $117.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, BMO Capital Markets began coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective on the stock. One equities research 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 currently has a consensus rating of “Hold” and a consensus target price of $121.08.

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.