Aviva PLC Has $53.63 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

Aviva PLC reduced its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 452,464 shares of the financial services provider’s stock after selling 20,404 shares during the quarter. Aviva PLC owned about 0.13% of Prudential Financial worth $53,631,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PRU. Grove Bank & Trust increased its stake in shares of Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares during the period. Centricity Wealth Management LLC acquired a new stake in Prudential Financial in the fourth quarter worth about $29,000. CGC Financial Services LLC raised its holdings in Prudential Financial by 82.1% during the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. acquired a new position in Prudential Financial during the 4th quarter valued at about $33,000. Finally, Quarry LP boosted its stake in shares of Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 222 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PRU. Wells Fargo & Company increased their price objective on shares of Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. UBS Group decreased their price objective on Prudential Financial from $130.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods cut their price target on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. Piper Sandler dropped their price objective on Prudential Financial from $124.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Barclays boosted their target price on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $126.08.

Prudential Financial Price Performance

Shares of PRU opened at $96.27 on Friday. The firm has a market capitalization of $34.12 billion, a PE ratio of 12.89, a PEG ratio of 0.98 and a beta of 1.11. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The company’s 50-day moving average is $112.03 and its 200-day moving average is $118.63. Prudential Financial, Inc. has a fifty-two week low of $95.73 and a fifty-two week high of $130.55.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data 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%. Equities analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were given a dividend of $1.35 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.40 annualized dividend and a yield of 5.61%. Prudential Financial’s dividend payout ratio (DPR) is presently 72.29%.

Insider Activity

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the transaction, the executive vice president now owns 27,072 shares in the company, valued at approximately $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the transaction, the insider now directly owns 87,047 shares of the company’s stock, valued at $2,499,989.84. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by company insiders.

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.