International Assets Investment Management LLC Sells 1,269,554 Shares of Prudential Financial, Inc. (NYSE:PRU)

International Assets Investment Management LLC reduced its position in Prudential Financial, Inc. (NYSE:PRU) by 97.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,703 shares of the financial services provider’s stock after selling 1,269,554 shares during the period. International Assets Investment Management LLC’s holdings in Prudential Financial were worth $3,402,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Ashton Thomas Securities LLC purchased a new stake in Prudential Financial during the 3rd quarter valued at $31,000. Quarry LP boosted its position in Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 222 shares during the last quarter. Tompkins Financial Corp increased its position in shares of Prudential Financial by 61.7% during the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 140 shares during the last quarter. GHP Investment Advisors Inc. lifted its stake in shares of Prudential Financial by 235.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 266 shares during the period. Finally, Darwin Wealth Management LLC purchased a new position in shares of Prudential Financial in the third quarter worth approximately $48,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the 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 transaction, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. The trade was a 12.66 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on PRU. Piper Sandler lifted their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. TD Cowen boosted their price target on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Wells Fargo & Company raised their target price on shares of Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their price objective for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Finally, Jefferies Financial Group increased their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Eleven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and a consensus price target of $127.17.

Prudential Financial Stock Down 2.0 %

Shares of NYSE:PRU traded down $2.33 on Wednesday, reaching $116.85. The company had a trading volume of 140,535 shares, compared to its average volume of 928,829. 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 firm has a market capitalization of $41.60 billion, a PE ratio of 10.39, a PEG ratio of 0.87 and a beta of 1.31. Prudential Financial, Inc. has a 52-week low of $100.60 and a 52-week high of $130.55. The firm’s 50 day simple moving average is $122.90 and its 200-day simple moving average is $120.70.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The business had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same period in the previous year, the company posted $3.44 earnings per share. As a group, analysts expect that Prudential Financial, Inc. will post 13.35 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were paid a dividend of $1.30 per share. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.45%. Prudential Financial’s payout ratio is 46.22%.

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.