Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lowered its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,339 shares of the financial services provider’s stock after selling 546 shares during the period. Crossmark Global Holdings Inc.’s holdings in Prudential Financial were worth $2,885,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Grove Bank & Trust lifted 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 purchasing an additional 87 shares in the last quarter. Avidian Wealth Enterprises LLC raised its holdings in Prudential Financial by 1.2% in the third quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock valued at $891,000 after buying an additional 89 shares during the period. Daymark Wealth Partners LLC lifted its position in Prudential Financial by 3.9% during the third quarter. Daymark Wealth Partners LLC now owns 2,616 shares of the financial services provider’s stock valued at $317,000 after buying an additional 97 shares in the last quarter. UMB Bank n.a. grew its stake in Prudential Financial by 2.7% during the third quarter. UMB Bank n.a. now owns 3,660 shares of the financial services provider’s stock worth $443,000 after buying an additional 97 shares during the period. Finally, Pure Financial Advisors LLC increased its position in shares of Prudential Financial by 2.7% in the third quarter. Pure Financial Advisors LLC now owns 3,748 shares of the financial services provider’s stock worth $454,000 after acquiring an additional 97 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on PRU. TD Cowen increased 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. Keefe, Bruyette & Woods dropped their target price on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a report on Thursday, January 16th. Barclays reduced their price target on Prudential Financial from $129.00 to $127.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Bank of America lifted their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, Piper Sandler decreased their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $127.25.

Prudential Financial Trading Down 2.5 %

Shares of NYSE PRU opened at $117.32 on Thursday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock’s 50 day moving average price is $121.84 and its two-hundred day moving average price is $120.71. Prudential Financial, Inc. has a 52-week low of $100.60 and a 52-week high of $130.55. The stock has a market capitalization of $41.76 billion, a P/E ratio of 10.43, a PEG ratio of 1.10 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.01. The business had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period in the prior year, the company posted $3.44 EPS. On average, analysts anticipate that Prudential Financial, Inc. will post 13.26 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s dividend payout ratio is presently 46.22%.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the company’s stock in a transaction on Monday, November 25th. The shares were purchased at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the transaction, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.34% of the stock is currently owned by corporate 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.