Pinebridge Investments L.P. Lowers Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Pinebridge Investments L.P. decreased its position in Prudential Financial, Inc. (NYSE:PRU) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 352,804 shares of the financial services provider’s stock after selling 4,376 shares during the period. Pinebridge Investments L.P. owned 0.10% of Prudential Financial worth $41,818,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PRU. Grove Bank & Trust increased its stake in shares of Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares during the period. Centricity Wealth Management LLC purchased a new position in Prudential Financial during the 4th quarter valued at about $29,000. CGC Financial Services LLC raised its holdings in shares of Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in shares of Prudential Financial in the 4th quarter worth approximately $33,000. Finally, Hopwood Financial Services Inc. bought a new position in shares of Prudential Financial during the fourth quarter valued at approximately $34,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of analyst reports. BMO Capital Markets began coverage on Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price for the company. UBS Group decreased their price objective on Prudential Financial from $130.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. cut their target price on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods lowered their price target on shares of Prudential Financial from $125.00 to $120.00 and set a “market perform” rating on the stock in a report on Wednesday, April 9th. Finally, Piper Sandler reduced their price objective on shares of Prudential Financial from $122.00 to $110.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. 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 given a strong buy rating to the company. Based on data from MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and a consensus target price of $121.85.

Prudential Financial Price Performance

Shares of PRU opened at $100.16 on Wednesday. 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’s fifty day moving average price is $107.17 and its 200-day moving average price is $116.56. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The firm has a market capitalization of $35.50 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share 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%. On average, equities research analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were given a dividend of $1.35 per share. The ex-dividend date was Tuesday, February 18th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 5.39%. Prudential Financial’s dividend payout ratio (DPR) is currently 72.29%.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the purchase, the insider now directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the transaction, the executive vice president now 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. Insiders own 0.25% of the company’s stock.

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.