Prudential Financial, Inc. (NYSE:PRU) Shares Sold by M&G Investment Management Ltd.

M&G Investment Management Ltd. lowered its holdings in Prudential Financial, Inc. (NYSE:PRU) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,766 shares of the financial services provider’s stock after selling 5,379 shares during the quarter. M&G Investment Management Ltd.’s holdings in Prudential Financial were worth $9,128,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cambridge Trust Co. increased its position in shares of Prudential Financial by 77.2% during the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 105 shares during the period. Bruce G. Allen Investments LLC purchased a new position in shares of Prudential Financial in the 4th quarter valued at approximately $26,000. Headinvest LLC purchased a new position in Prudential Financial during the 3rd quarter worth $27,000. Arlington Trust Co LLC raised its holdings in Prudential Financial by 151.6% during the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 185 shares in the last quarter. Finally, Janiczek Wealth Management LLC lifted its holdings in shares of Prudential Financial by 49.6% in the 4th quarter. Janiczek Wealth Management LLC now owns 374 shares of the financial services provider’s stock valued at $39,000 after buying an additional 124 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Up 0.1 %

Shares of PRU traded up $0.09 during mid-day trading on Wednesday, reaching $118.97. The company’s stock had a trading volume of 495,375 shares, compared to its average volume of 1,501,608. The company has a market cap of $42.71 billion, a price-to-earnings ratio of 20.23, a price-to-earnings-growth ratio of 0.87 and a beta of 1.35. Prudential Financial, Inc. has a 1 year low of $77.97 and a 1 year high of $119.70. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. The business has a fifty day moving average of $113.46 and a 200 day moving average of $105.79.

Prudential Financial (NYSE:PRU) last released 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 company had revenue of $15.01 billion for the quarter, compared to the consensus estimate of $14.50 billion. During the same quarter last year, the company posted $2.66 EPS. The business’s revenue was up 69.9% compared to the same quarter last year. As a group, analysts forecast that Prudential Financial, Inc. will post 13.42 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business 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. This represents a $5.20 annualized dividend and a yield of 4.37%. The ex-dividend date is Monday, May 20th. Prudential Financial’s dividend payout ratio is 88.44%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. UBS Group lifted their price objective on Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Raymond James downgraded Prudential Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, February 9th. Wells Fargo & Company upped their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. Evercore ISI boosted their price objective on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a report on Thursday, April 25th. Finally, 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. Two analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $111.08.

Insider Transactions at Prudential Financial

In other Prudential Financial news, SVP Timothy L. Schmidt sold 7,912 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total transaction of $855,524.56. Following the transaction, the senior vice president now owns 14,754 shares of the company’s stock, valued at approximately $1,595,350.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Timothy L. Schmidt sold 5,189 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the completion of the transaction, the senior vice president now owns 12,236 shares in the company, valued at approximately $1,426,472.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Timothy L. Schmidt sold 7,912 shares of Prudential Financial stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $108.13, for a total transaction of $855,524.56. Following the completion of the transaction, the senior vice president now directly owns 14,754 shares of the company’s stock, valued at approximately $1,595,350.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,444 shares of company stock valued at $3,820,597. Corporate insiders own 0.34% of the company’s stock.

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.