Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Atomi Financial Group Inc.

Atomi Financial Group Inc. lessened its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,091 shares of the financial services provider’s stock after selling 110 shares during the quarter. Atomi Financial Group Inc.’s holdings in Prudential Financial were worth $366,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Glenmede Trust Co. NA increased its position in Prudential Financial by 7.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock worth $2,176,000 after purchasing an additional 1,234 shares in the last quarter. Avanza Fonder AB acquired a new stake in Prudential Financial during the 4th quarter worth approximately $3,423,000. Gateway Investment Advisers LLC increased its position in Prudential Financial by 56.1% during the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock worth $2,607,000 after purchasing an additional 7,907 shares in the last quarter. Principal Financial Group Inc. increased its position in 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 in the last quarter. Finally, Janus Henderson Group PLC increased its position in Prudential Financial by 2.3% during the 3rd 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. Institutional investors and hedge funds own 56.83% of the company’s stock.

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. 0.31% of the stock is owned by corporate insiders.

Prudential Financial Stock Performance

Shares of PRU opened at $117.22 on Friday. The business’s fifty day moving average price is $121.29 and its 200 day moving average price is $120.66. Prudential Financial, Inc. has a 12-month low of $100.60 and a 12-month high of $130.55. The stock has a market capitalization of $41.73 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 1.09 and a beta of 1.31. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The firm had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same period last year, the business posted $3.44 earnings per share. Equities research analysts forecast that Prudential Financial, Inc. will post 13.24 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.44%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of analyst reports. BMO Capital Markets initiated coverage on Prudential Financial in a report on Thursday. They issued an “underperform” rating and a $101.00 price target for the company. Piper Sandler decreased their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Jefferies Financial Group upped their price target on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods decreased their price target on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a report on Thursday, January 16th. Finally, TD Cowen upped their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $125.31.

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.