Mitsubishi UFJ Trust & Banking Corp Cuts Stake in Prudential Financial, Inc. (NYSE:PRU)

Mitsubishi UFJ Trust & Banking Corp decreased its position in Prudential Financial, Inc. (NYSE:PRU) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 171,382 shares of the financial services provider’s stock after selling 3,655 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Prudential Financial were worth $20,314,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Kingsview Wealth Management LLC raised its stake in shares of Prudential Financial by 3.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 7,012 shares of the financial services provider’s stock worth $849,000 after buying an additional 237 shares in the last quarter. Larson Financial Group LLC grew its holdings in Prudential Financial by 18.0% during the third quarter. Larson Financial Group LLC now owns 715 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 109 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Prudential Financial in the third quarter valued at $283,000. Brown Brothers Harriman & Co. boosted its position in shares of Prudential Financial by 16.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,408 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 196 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Prudential Financial by 11.3% during the 3rd quarter. Private Trust Co. NA now owns 4,092 shares of the financial services provider’s stock worth $496,000 after purchasing an additional 417 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PRU. BMO Capital Markets assumed coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective on the stock. Morgan Stanley decreased their price target on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Wells Fargo & Company raised their price objective on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Jefferies Financial Group boosted their target price on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Piper Sandler dropped their price target 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $126.15.

Prudential Financial Trading Down 0.9 %

Shares of Prudential Financial stock opened at $114.50 on Friday. The firm has a market cap of $40.99 billion, a PE ratio of 15.33, a P/E/G ratio of 0.98 and a beta of 1.28. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a fifty-two week low of $104.45 and a fifty-two week high of $130.55. The business’s fifty day moving average is $113.27 and its two-hundred day moving average is $118.95.

Prudential Financial (NYSE:PRU) last posted 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 net margin of 4.01% and a return on equity of 15.86%. Analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date was Tuesday, February 18th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio (DPR) is currently 72.29%.

Insider Transactions at Prudential Financial

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the transaction, the executive vice president now owns 27,072 shares in the company, valued at approximately $2,869,090.56. The trade was a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the stock in a transaction on Wednesday, March 12th. The shares were acquired at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the purchase, the insider now owns 87,047 shares in the company, valued at $2,499,989.84. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.

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.