Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC decreased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 15.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,668 shares of the financial services provider’s stock after selling 2,297 shares during the period. Apollon Wealth Management LLC’s holdings in Prudential Financial were worth $1,502,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Glenmede Trust Co. NA raised its position in Prudential Financial by 7.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock valued at $2,176,000 after purchasing an additional 1,234 shares in the last quarter. Avanza Fonder AB purchased a new position in Prudential Financial in the fourth quarter worth approximately $3,423,000. Gateway Investment Advisers LLC increased its position in shares of Prudential Financial by 56.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock valued at $2,607,000 after purchasing an additional 7,907 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Prudential Financial by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock worth $50,830,000 after purchasing an additional 15,695 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Prudential Financial by 2.3% during the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock worth $9,597,000 after purchasing an additional 1,765 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PRU shares. TD Cowen boosted their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Piper Sandler lowered their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Barclays upped their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. BMO Capital Markets began coverage on Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price for the company. Finally, Keefe, Bruyette & Woods dropped their price target on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a research note on Thursday, January 16th. One 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 stock. According to MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and a consensus target price of $125.77.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the stock in a transaction on Monday, November 25th. The shares were bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the acquisition, the insider now owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Stock Performance

NYSE:PRU opened at $111.98 on Tuesday. The firm has a market cap of $39.86 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 1.00 and a beta of 1.31. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.14. Prudential Financial, Inc. has a 1-year low of $104.02 and a 1-year high of $130.55. The firm’s fifty day moving average price is $119.41 and its 200 day moving average price is $120.23.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. On average, sell-side analysts expect that Prudential Financial, Inc. will post 14.38 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently announced 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. The ex-dividend date is Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a yield of 4.82%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio (DPR) is 69.61%.

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.