Prudential Financial, Inc. (NYSE:PRU) Stock Holdings Cut by Garland Capital Management Inc.

Garland Capital Management Inc. trimmed its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,340 shares of the financial services provider’s stock after selling 1,800 shares during the period. Prudential Financial makes up about 3.8% of Garland Capital Management Inc.’s holdings, making the stock its 10th largest holding. Garland Capital Management Inc.’s holdings in Prudential Financial were worth $4,663,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Nordea Investment Management AB raised its position in Prudential Financial by 176.8% in the 4th quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock valued at $123,804,000 after purchasing an additional 665,180 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Prudential Financial in the fourth quarter valued at approximately $76,303,000. Amundi lifted its stake in Prudential Financial by 32.7% in the fourth quarter. Amundi now owns 1,535,514 shares of the financial services provider’s stock worth $181,851,000 after acquiring an additional 378,266 shares during the last quarter. FMR LLC grew its holdings in Prudential Financial by 31.3% during the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock worth $174,903,000 after acquiring an additional 344,254 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Prudential Financial by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock valued at $1,047,872,000 after purchasing an additional 341,787 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the purchase, the insider now owns 87,047 shares in the company, valued at approximately $2,499,989.84. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 27,072 shares of the company’s stock, valued at $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Prudential Financial Trading Down 0.4 %

Shares of PRU opened at $110.35 on Friday. Prudential Financial, Inc. has a 1 year low of $104.45 and a 1 year high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock has a 50 day simple moving average of $113.57 and a 200-day simple moving average of $119.05. The stock has a market cap of $39.51 billion, a PE ratio of 14.77, a PEG ratio of 0.98 and a beta of 1.28.

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

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were given a $1.35 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.89%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio is currently 72.29%.

Analyst Ratings Changes

PRU has been the subject of a number of research reports. Keefe, Bruyette & Woods reduced their price target on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. Wells Fargo & Company upped their price target on shares of Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. TD Cowen boosted their price target on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Piper Sandler decreased their price objective 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. Finally, BMO Capital Markets began 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $126.15.

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.