Wedge Capital Management L L P NC Sells 24,469 Shares of Prudential Financial, Inc. (NYSE:PRU)

Wedge Capital Management L L P NC cut its holdings in Prudential Financial, Inc. (NYSE:PRU) by 7.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 297,583 shares of the financial services provider’s stock after selling 24,469 shares during the period. Wedge Capital Management L L P NC owned about 0.08% of Prudential Financial worth $35,273,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new stake in Prudential Financial during the third quarter valued at approximately $31,000. Quarry LP lifted its holdings in shares of Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 222 shares during the last quarter. Tompkins Financial Corp raised its position in Prudential Financial by 61.7% in the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 140 shares during the period. GHP Investment Advisors Inc. lifted its stake in Prudential Financial by 235.4% in the third quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 266 shares during the last quarter. Finally, Darwin Wealth Management LLC bought a new position in shares of Prudential Financial during the third quarter valued at approximately $48,000. Institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the acquisition, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Barclays decreased their price objective on shares of Prudential Financial from $129.00 to $127.00 and set an “equal weight” rating for the company in a report on Friday. Jefferies Financial Group increased their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. TD Cowen lifted their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price target for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Finally, Piper Sandler reduced their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday. 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $127.25.

Prudential Financial Trading Up 0.5 %

Shares of PRU stock opened at $118.98 on Friday. Prudential Financial, Inc. has a 1-year low of $100.60 and a 1-year high of $130.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a market cap of $42.36 billion, a P/E ratio of 10.58, a PEG ratio of 0.75 and a beta of 1.31. The firm’s 50-day simple moving average is $122.12 and its 200-day simple moving average is $120.65.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating 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 business had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the prior year, the firm earned $3.44 EPS. As a group, equities analysts forecast that Prudential Financial, Inc. will post 13.34 EPS for the current year.

Prudential Financial Dividend Announcement

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

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.