Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Means Investment CO. Inc.

Means Investment CO. Inc. reduced its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 11,935 shares of the financial services provider’s stock after selling 101 shares during the quarter. Means Investment CO. Inc.’s holdings in Prudential Financial were worth $1,415,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. State Street Corp boosted its position in shares of Prudential Financial by 0.3% in the 3rd quarter. State Street Corp now owns 17,007,013 shares of the financial services provider’s stock valued at $2,059,549,000 after purchasing an additional 49,830 shares during the period. Geode Capital Management LLC grew its position in shares of Prudential Financial by 4.1% during the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock worth $1,047,872,000 after acquiring an additional 341,787 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Prudential Financial by 1.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider’s stock valued at $370,327,000 after purchasing an additional 47,561 shares during the last quarter. FMR LLC increased its position in Prudential Financial by 31.3% in the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after acquiring an additional 344,254 shares during the period. Finally, abrdn plc lifted its position in Prudential Financial by 4.0% during the 3rd quarter. abrdn plc now owns 1,309,155 shares of the financial services provider’s stock worth $158,120,000 after acquiring an additional 50,026 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

PRU has been the topic of a number of analyst reports. Barclays lifted their price objective on shares of Prudential Financial from $127.00 to $128.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. BMO Capital Markets began coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price on the stock. Jefferies Financial Group raised their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Piper Sandler dropped their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, 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. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $125.31.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Prudential Financial Stock Performance

NYSE PRU opened at $120.52 on Monday. The stock has a market cap of $42.91 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31. The business has a fifty day moving average of $120.80 and a 200-day moving average of $120.60. Prudential Financial, Inc. has a fifty-two week low of $100.60 and a fifty-two week high of $130.55. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were paid a $1.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.31%. Prudential Financial’s payout ratio is currently 46.22%.

About Prudential Financial

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.