Prudential Financial, Inc. (NYSE:PRU) Shares Sold by HUB Investment Partners LLC

HUB Investment Partners LLC lessened its position in Prudential Financial, Inc. (NYSE:PRU) by 4.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 55,481 shares of the financial services provider’s stock after selling 2,441 shares during the period. HUB Investment Partners LLC’s holdings in Prudential Financial were worth $6,576,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Whittier Trust Co. raised its stake in shares of Prudential Financial by 8.2% in the 4th quarter. Whittier Trust Co. now owns 4,140 shares of the financial services provider’s stock worth $491,000 after buying an additional 314 shares in the last quarter. Berkeley Capital Partners LLC lifted its stake in Prudential Financial by 2.5% in the 4th quarter. Berkeley Capital Partners LLC now owns 5,100 shares of the financial services provider’s stock worth $605,000 after acquiring an additional 126 shares in the last quarter. iA Global Asset Management Inc. lifted its stake in Prudential Financial by 291.5% in the 4th quarter. iA Global Asset Management Inc. now owns 6,809 shares of the financial services provider’s stock worth $807,000 after acquiring an additional 5,070 shares in the last quarter. Algebris UK Ltd lifted its stake in Prudential Financial by 79.5% in the 4th quarter. Algebris UK Ltd now owns 218,412 shares of the financial services provider’s stock worth $24,951,000 after acquiring an additional 96,725 shares in the last quarter. Finally, Vinva Investment Management Ltd lifted its stake in Prudential Financial by 13.2% in the 4th quarter. Vinva Investment Management Ltd now owns 18,742 shares of the financial services provider’s stock worth $2,214,000 after acquiring an additional 2,186 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Up 0.8 %

NYSE:PRU opened at $110.64 on Thursday. The business’s 50-day simple moving average is $113.81 and its 200-day simple moving average is $119.18. Prudential Financial, Inc. has a fifty-two week low of $104.45 and a fifty-two week high of $130.55. The stock has a market capitalization of $39.61 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) 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%. Sell-side analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a dividend of $1.35 per share. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial’s payout ratio is currently 72.29%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. TD Cowen upped their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. BMO Capital Markets assumed coverage on Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price on the stock. Barclays raised their target price on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Jefferies Financial Group raised their price objective on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Piper Sandler cut their target price on 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 equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $126.15.

Insider Transactions at Prudential Financial

In other news, 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 transaction, the executive vice president now owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. The trade was a 18.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the acquisition, the insider now directly owns 87,047 shares in the company, valued at $2,499,989.84. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by corporate insiders.

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.