Clarius Group LLC Trims Holdings in Prudential Financial, Inc. (NYSE:PRU)

Clarius Group LLC cut its stake in Prudential Financial, Inc. (NYSE:PRU) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,063 shares of the financial services provider’s stock after selling 135 shares during the period. Clarius Group LLC’s holdings in Prudential Financial were worth $363,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PRU. Glenmede Trust Co. NA lifted its position in shares of Prudential Financial by 7.4% during the third quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock worth $2,176,000 after purchasing an additional 1,234 shares during the last quarter. Avanza Fonder AB bought a new position in Prudential Financial during the 4th quarter worth approximately $3,423,000. Gateway Investment Advisers LLC grew its position in shares of Prudential Financial by 56.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock worth $2,607,000 after acquiring an additional 7,907 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Prudential Financial by 3.9% in the 3rd quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock valued at $50,830,000 after acquiring an additional 15,695 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Prudential Financial by 2.3% during 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 acquiring an additional 1,765 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $118.98 on Monday. The firm’s 50-day simple moving average is $122.06 and its 200 day simple moving average is $120.67. The stock has a market cap of $42.36 billion, a P/E ratio of 10.58, a P/E/G ratio of 0.75 and a beta of 1.31. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. 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 issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The company had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same period in the prior year, the business posted $3.44 EPS. Equities analysts expect that Prudential Financial, Inc. will post 13.34 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s payout ratio is currently 46.22%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and boosted their target price for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Bank of America boosted their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods decreased their target price on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research note on Thursday. Piper Sandler dropped their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Wells Fargo & Company reduced their price objective on 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. Eleven research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $127.25.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the stock in a transaction dated Monday, November 25th. The shares were bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.31% 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.