Thrivent Financial for Lutherans Sells 7,608 Shares of Prudential Financial, Inc. (NYSE:PRU)

Thrivent Financial for Lutherans lowered its stake in Prudential Financial, Inc. (NYSE:PRU) by 19.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,757 shares of the financial services provider’s stock after selling 7,608 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Prudential Financial were worth $3,765,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PRU. Grove Bank & Trust boosted its stake in Prudential Financial by 65.9% during the fourth 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 last quarter. Centricity Wealth Management LLC bought a new position in shares of Prudential Financial during the 4th quarter valued at approximately $29,000. CGC Financial Services LLC grew its holdings in shares of Prudential Financial by 82.1% in the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new stake in Prudential Financial in the fourth quarter worth $33,000. Finally, Quarry LP raised its stake in Prudential Financial by 376.3% during the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 222 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of NYSE:PRU opened at $114.32 on Wednesday. The firm has a market cap of $40.93 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. The firm’s 50 day simple moving average is $113.44 and its 200-day simple moving average is $119.01. Prudential Financial, Inc. has a one year low of $104.45 and a one year high of $130.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU) last announced 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%. As a group, equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently announced 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 an increase 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 dividend on an annualized basis and a yield of 4.72%. Prudential Financial’s dividend payout ratio (DPR) is 72.29%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the sale, the executive vice president now owns 27,072 shares in the company, valued at $2,869,090.56. This represents a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the acquisition, the insider now directly owns 87,047 shares in the company, valued at approximately $2,499,989.84. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

PRU has been the topic of a number of research reports. Piper Sandler reduced their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. TD Cowen upped their price objective on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Jefferies Financial Group lifted their target price on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Wells Fargo & Company increased their price target on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Finally, Barclays boosted their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $126.15.

Prudential Financial 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.