Prudential Financial, Inc. (NYSE:PRU) Stake Cut by Doliver Advisors LP

Doliver Advisors LP trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,232 shares of the financial services provider’s stock after selling 149 shares during the period. Doliver Advisors LP’s holdings in Prudential Financial were worth $383,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PRU. Nordea Investment Management AB grew its holdings in shares of Prudential Financial by 176.8% during the fourth quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock valued at $123,804,000 after purchasing an additional 665,180 shares during the last quarter. Versant Capital Management Inc grew its stake in Prudential Financial by 64.4% during the 4th quarter. Versant Capital Management Inc now owns 490 shares of the financial services provider’s stock worth $58,000 after buying an additional 192 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Prudential Financial by 3.9% in the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock valued at $50,830,000 after buying an additional 15,695 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Prudential Financial by 2.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 22,453 shares of the financial services provider’s stock valued at $2,703,000 after acquiring an additional 477 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Prudential Financial by 33.2% during the third quarter. Franklin Resources Inc. now owns 122,245 shares of the financial services provider’s stock worth $15,301,000 after acquiring an additional 30,437 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their price target for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Bank of America lifted their target price on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Wells Fargo & Company increased their price target on Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Piper Sandler upped their price objective on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Barclays raised their target price on shares of Prudential Financial from $119.00 to $129.00 and gave the company an “equal weight” rating in a research note on Monday. Eleven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $127.17.

Insider Activity

In related 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 stock was bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Price Performance

Shares of NYSE PRU traded up $0.09 during mid-day trading on Monday, reaching $119.23. The company had a trading volume of 490,821 shares, compared to its average volume of 794,665. Prudential Financial, Inc. has a 1-year low of $100.60 and a 1-year high of $130.55. The stock has a market cap of $42.45 billion, a PE ratio of 10.60, a P/E/G ratio of 0.87 and a beta of 1.29. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average price of $123.17 and a two-hundred day moving average price of $120.68.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.01. The firm had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the previous year, the company earned $3.44 EPS. On average, equities analysts anticipate that Prudential Financial, Inc. will post 13.35 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.36%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is currently 46.22%.

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.