Prudential Financial, Inc. (NYSE:PRU) Holdings Lowered by XML Financial LLC

XML Financial LLC lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 22,536 shares of the financial services provider’s stock after selling 1,140 shares during the quarter. XML Financial LLC’s holdings in Prudential Financial were worth $2,671,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PRU. Grove Bank & Trust grew its position in Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Prudential Financial during the third quarter valued at $31,000. Quarry LP lifted its stake in 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 in the last quarter. Retirement Wealth Solutions LLC purchased a new position in Prudential Financial during the 4th quarter valued at about $37,000. Finally, Tompkins Financial Corp lifted its position in shares of Prudential Financial by 61.7% in the third quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 140 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PRU has been the topic of a number of research analyst reports. Piper Sandler lowered their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Evercore ISI upgraded 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. Wells Fargo & Company reduced their price target on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Keefe, Bruyette & Woods reduced their target price on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research note on Thursday, January 16th. Finally, Barclays dropped their price target on shares of Prudential Financial from $129.00 to $127.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Eleven analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $127.25.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased 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 approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.34% of the stock is currently owned by insiders.

Prudential Financial Trading Up 1.0 %

Prudential Financial stock opened at $120.20 on Wednesday. The business has a 50 day moving average price of $121.94 and a two-hundred day moving average price of $120.69. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock has a market cap of $42.79 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 1.10 and a beta of 1.31. Prudential Financial, Inc. has a 12 month low of $100.60 and a 12 month high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The firm had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the previous year, the firm posted $3.44 EPS. As a group, equities analysts forecast that Prudential Financial, Inc. will post 13.26 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s payout ratio 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.