Prudential Financial, Inc. (NYSE:PRU) Shares Sold by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. trimmed its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 5.2% in the third quarter, Holdings Channel reports. The fund owned 2,655 shares of the financial services provider’s stock after selling 145 shares during the period. MidWestOne Financial Group Inc.’s holdings in Prudential Financial were worth $322,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA lifted its position in Prudential Financial by 7.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock worth $2,176,000 after acquiring an additional 1,234 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Prudential Financial by 2.3% in the 3rd quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock valued at $9,597,000 after buying an additional 1,765 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of Prudential Financial by 4.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider’s stock valued at $19,701,000 after buying an additional 6,641 shares during the period. ORG Partners LLC acquired a new stake in shares of Prudential Financial in the 2nd quarter valued at approximately $156,000. Finally, PGGM Investments lifted its holdings in shares of Prudential Financial by 98.0% in the 2nd quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock valued at $7,533,000 after buying an additional 31,807 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Bank of America raised their price target on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Piper Sandler raised their price target on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. TD Cowen raised their price objective on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Morgan Stanley dropped their price objective on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a research note on Wednesday, August 21st. Eleven research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $126.33.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of Prudential Financial stock in a transaction on Tuesday, October 8th. The shares were bought at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. This trade represents a 6.61 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.34% of the stock is owned by insiders.

Prudential Financial Stock Performance

Prudential Financial stock opened at $121.24 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The stock has a fifty day moving average of $124.95 and a two-hundred day moving average of $120.43. The company has a market capitalization of $43.16 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 0.91 and a beta of 1.29. Prudential Financial, Inc. has a fifty-two week low of $100.60 and a fifty-two week high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data 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. The business had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the previous year, the business earned $3.44 earnings per share. On average, analysts anticipate that Prudential Financial, Inc. will post 13.35 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s dividend payout ratio is currently 46.22%.

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.