Hartford Investment Management Co. Sells 308 Shares of Prudential Financial, Inc. (NYSE:PRU)

Hartford Investment Management Co. decreased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,649 shares of the financial services provider’s stock after selling 308 shares during the quarter. Hartford Investment Management Co.’s holdings in Prudential Financial were worth $2,922,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Advisors Inc. OK raised its holdings in Prudential Financial by 5.1% during the 4th quarter. Capital Advisors Inc. OK now owns 262,238 shares of the financial services provider’s stock worth $31,083,000 after buying an additional 12,644 shares during the period. Indiana Trust & Investment Management Co raised its holdings in Prudential Financial by 4.0% during the 4th quarter. Indiana Trust & Investment Management Co now owns 4,563 shares of the financial services provider’s stock worth $541,000 after buying an additional 175 shares during the period. Community Bank & Trust Waco Texas raised its holdings in Prudential Financial by 1.5% during the 4th quarter. Community Bank & Trust Waco Texas now owns 46,558 shares of the financial services provider’s stock worth $5,519,000 after buying an additional 698 shares during the period. Stonebridge Financial Group LLC acquired a new stake in Prudential Financial during the 4th quarter worth approximately $237,000. Finally, Essex Financial Services Inc. raised its holdings in Prudential Financial by 24.5% during the 4th quarter. Essex Financial Services Inc. now owns 2,233 shares of the financial services provider’s stock worth $265,000 after buying an additional 439 shares during the period. Institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial 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 shares were purchased at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the transaction, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.31% of the company’s stock.

Prudential Financial Price Performance

NYSE:PRU opened at $110.82 on Thursday. Prudential Financial, Inc. has a 1-year low of $104.02 and a 1-year high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.14 and a debt-to-equity ratio of 0.68. The firm has a fifty day simple moving average of $118.78 and a 200 day simple moving average of $120.07. The stock has a market capitalization of $39.45 billion, a PE ratio of 14.84, a P/E/G ratio of 1.00 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share 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%. On average, research analysts expect that Prudential Financial, Inc. will post 14.38 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be issued a $1.35 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.87%. The ex-dividend date of this dividend is Tuesday, February 18th. Prudential Financial’s dividend payout ratio is currently 69.61%.

Analyst Ratings Changes

Several analysts have commented on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a report on Wednesday. Wells Fargo & Company dropped their target price on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Jefferies Financial Group lifted their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Piper Sandler lowered their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Barclays lifted their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. 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. According to MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and a consensus price target of $125.46.

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.