Chevy Chase Trust Holdings LLC Sells 4,604 Shares of Prudential Financial, Inc. (NYSE:PRU)

Chevy Chase Trust Holdings LLC reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 186,936 shares of the financial services provider’s stock after selling 4,604 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Prudential Financial were worth $22,158,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Grove Bank & Trust increased its stake in Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Prudential Financial in the third quarter valued at $31,000. CGC Financial Services LLC increased its stake in Prudential Financial by 82.1% in the fourth 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. bought a new stake in Prudential Financial in the fourth quarter valued at $33,000. Finally, Quarry LP increased its position in shares of Prudential Financial by 376.3% during the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 222 shares in the last quarter. 56.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on PRU. Wells Fargo & Company decreased their target price on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and boosted their target price for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. Keefe, Bruyette & Woods decreased 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 report on Wednesday. TD Cowen boosted their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Finally, Piper Sandler decreased 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 report on Thursday, January 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and an average target price of $125.46.

Prudential Financial Stock Down 0.3 %

PRU opened at $111.54 on Friday. The company has a quick ratio of 0.14, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock has a market cap of $39.71 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 1.00 and a beta of 1.31. Prudential Financial, Inc. has a twelve month low of $104.44 and a twelve month high of $130.55. The company’s 50-day moving average price is $117.87 and its two-hundred day moving average price is $119.86.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share 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 expect that Prudential Financial, Inc. will post 14.38 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be paid a dividend of $1.35 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s dividend payout ratio is presently 69.61%.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the purchase, the insider now owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This represents a 12.66 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

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.