Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. cut its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 19,133 shares of the financial services provider’s stock after selling 612 shares during the period. Securian Asset Management Inc.’s holdings in Prudential Financial were worth $2,268,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Glenmede Trust Co. NA grew its holdings in Prudential Financial by 7.4% during 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 in the last quarter. Avanza Fonder AB acquired a new position in shares of Prudential Financial during the fourth quarter worth $3,423,000. Gateway Investment Advisers LLC increased its holdings in Prudential Financial by 56.1% in the fourth quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock valued at $2,607,000 after buying an additional 7,907 shares during the last quarter. Principal Financial Group Inc. lifted its holdings 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 worth $50,830,000 after buying an additional 15,695 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of 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 in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PRU has been the topic of several research analyst reports. Keefe, Bruyette & Woods cut their target price on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. Jefferies Financial Group boosted their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Piper Sandler dropped their target price 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. TD Cowen boosted their price target on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Finally, BMO Capital Markets began coverage on Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and a consensus target price of $126.15.

Prudential Financial Stock Down 1.2 %

PRU opened at $104.79 on Friday. Prudential Financial, Inc. has a 52 week low of $104.45 and a 52 week high of $130.55. The business has a 50 day moving average price of $114.52 and a two-hundred day moving average price of $119.44. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The company has a market cap of $37.52 billion, a PE ratio of 14.03, a P/E/G ratio of 0.98 and a beta of 1.28.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. As a group, research analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were issued a $1.35 dividend. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 5.15%. Prudential Financial’s payout ratio is presently 72.29%.

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.