Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its position in Prudential Financial, Inc. (NYSE:PRUFree Report) by 24.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,356 shares of the financial services provider’s stock after selling 3,649 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Prudential Financial were worth $1,178,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in PRU. International Assets Investment Management LLC grew its stake in shares of Prudential Financial by 9,281.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock worth $141,962,000 after purchasing an additional 1,354,248 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Prudential Financial by 10.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock worth $414,926,000 after acquiring an additional 388,363 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of Prudential Financial in the 3rd quarter valued at about $34,251,000. abrdn plc lifted its stake in Prudential Financial by 37.5% during the fourth quarter. abrdn plc now owns 1,107,210 shares of the financial services provider’s stock worth $114,829,000 after purchasing an additional 302,164 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Prudential Financial by 39.2% in the third quarter. Envestnet Asset Management Inc. now owns 1,004,087 shares of the financial services provider’s stock valued at $95,278,000 after purchasing an additional 282,667 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

In other Prudential Financial news, EVP Ann M. Kappler sold 7,222 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total transaction of $782,792.58. Following the sale, the executive vice president now directly owns 24,381 shares in the company, valued at approximately $2,642,656.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Ann M. Kappler sold 7,222 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total value of $782,792.58. Following the completion of the transaction, the executive vice president now directly owns 24,381 shares of the company’s stock, valued at approximately $2,642,656.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert Axel sold 6,436 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the sale, the senior vice president now owns 7,901 shares in the company, valued at $883,805.86. The disclosure for this sale can be found here. Insiders have sold 164,536 shares of company stock valued at $19,245,606 over the last quarter. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PRU. Morgan Stanley raised their price objective on shares of Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. TheStreet raised shares of Prudential Financial from a “c+” rating to an “a-” rating in a research report on Tuesday, February 6th. Piper Sandler dropped their price objective on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. UBS Group raised their price target on Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Finally, Raymond James cut Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. Based on data from MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and an average price target of $111.08.

Check Out Our Latest Stock Report on Prudential Financial

Prudential Financial Stock Performance

Shares of PRU opened at $121.31 on Friday. The stock has a market capitalization of $43.55 billion, a P/E ratio of 20.63, a P/E/G ratio of 0.91 and a beta of 1.35. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a 1 year low of $78.40 and a 1 year high of $121.39. The company’s fifty day moving average is $114.05 and its two-hundred day moving average is $106.30.

Prudential Financial (NYSE:PRUGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The firm had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. During the same period in the prior year, the company earned $2.66 earnings per share. The company’s revenue for the quarter was up 69.9% on a year-over-year basis. On average, sell-side analysts predict that Prudential Financial, Inc. will post 13.42 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 21st will be paid a $1.30 dividend. The ex-dividend date is Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.29%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

About Prudential Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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