Prudential Financial, Inc. (NYSE:PRU) Position Trimmed by Invesco LLC

Invesco LLC lessened its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,406 shares of the financial services provider’s stock after selling 141 shares during the period. Invesco LLC’s holdings in Prudential Financial were worth $404,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Glenmede Trust Co. NA increased its holdings in shares of Prudential Financial by 7.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock worth $2,176,000 after acquiring an additional 1,234 shares during the period. Avanza Fonder AB acquired a new position in shares of Prudential Financial during the fourth quarter worth approximately $3,423,000. Gateway Investment Advisers LLC grew its holdings in 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 buying an additional 7,907 shares in the last quarter. Principal Financial Group Inc. raised its stake in Prudential Financial by 3.9% during 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 in the last quarter. Finally, Janus Henderson Group PLC boosted its position in 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 worth $9,597,000 after acquiring an additional 1,765 shares during the period. Institutional investors own 56.83% of the company’s stock.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of Prudential Financial stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the acquisition, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PRU has been the topic of a number of recent analyst reports. 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 research note on Wednesday, November 27th. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and increased their price objective for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Barclays upped their target price on Prudential Financial from $127.00 to $128.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. BMO Capital Markets initiated coverage on Prudential Financial in a research report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price target on the stock. Finally, 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, January 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $125.31.

Prudential Financial Trading Up 1.5 %

NYSE PRU traded up $1.87 on Wednesday, hitting $123.05. 155,823 shares of the stock were exchanged, compared to its average volume of 1,537,136. The company’s 50-day moving average price is $121.07 and its two-hundred day moving average price is $120.65. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. Prudential Financial, Inc. has a 52-week low of $100.60 and a 52-week high of $130.55. The company has a market capitalization of $43.80 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 1.09 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The firm had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period in the previous year, the firm earned $3.44 earnings per share. Research analysts predict that Prudential Financial, Inc. will post 13.24 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors 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 4.23%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s dividend payout ratio is currently 46.22%.

Prudential Financial Company 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.