Dimensional Fund Advisors LP Cuts Stock Position in Prudential Financial, Inc. $PRU

Dimensional Fund Advisors LP decreased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 3.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,624,843 shares of the financial services provider’s stock after selling 127,974 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Prudential Financial were worth $376,038,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Prudential Financial in the 2nd quarter valued at approximately $122,778,000. Vanguard Group Inc. raised its stake in shares of Prudential Financial by 1.4% in the second quarter. Vanguard Group Inc. now owns 42,502,160 shares of the financial services provider’s stock valued at $4,566,432,000 after acquiring an additional 600,482 shares in the last quarter. Marshall Wace LLP purchased a new position in Prudential Financial in the second quarter valued at $40,552,000. Canada Pension Plan Investment Board grew its stake in Prudential Financial by 209.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 520,025 shares of the financial services provider’s stock worth $55,871,000 after purchasing an additional 351,849 shares in the last quarter. Finally, Algebris UK Ltd. purchased a new stake in Prudential Financial during the 3rd quarter worth about $36,298,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 1,406,739 shares of the firm’s stock in a transaction dated Friday, January 23rd. The stock was acquired at an average cost of $24.87 per share, with a total value of $34,985,598.93. Following the completion of the acquisition, the insider owned 7,709,624 shares of the company’s stock, valued at $191,738,348.88. The trade was a 22.32% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph J. Wolk bought 400 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was acquired at an average cost of $105.32 per share, for a total transaction of $42,128.00. Following the completion of the acquisition, the director directly owned 400 shares in the company, valued at approximately $42,128. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 1,408,389 shares of company stock worth $35,154,439. Insiders own 0.25% of the company’s stock.

Prudential Financial Stock Up 0.3%

Shares of NYSE:PRU opened at $99.13 on Friday. The firm has a 50 day simple moving average of $108.02 and a 200-day simple moving average of $107.14. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $119.76. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $34.50 billion, a PE ratio of 9.91, a P/E/G ratio of 1.14 and a beta of 0.98.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 EPS for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.07). Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. The company had revenue of $15.69 billion during the quarter, compared to analysts’ expectations of $14.48 billion. During the same period last year, the business earned $2.96 earnings per share. On average, equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Tuesday, February 17th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.6%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.35. The ex-dividend date is Tuesday, February 17th. Prudential Financial’s payout ratio is presently 56.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PRU. Mizuho lowered their price objective on Prudential Financial from $126.00 to $113.00 and set a “neutral” rating for the company in a research report on Tuesday, February 10th. Piper Sandler lifted their price target on shares of Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 23rd. UBS Group increased their price objective on shares of Prudential Financial from $111.00 to $116.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. JPMorgan Chase & Co. decreased their price objective on shares of Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a research report on Wednesday, February 4th. Finally, Wall Street Zen downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $115.00.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.