Diversified Trust Co Trims Stake in Prudential Financial, Inc. (NYSE:PRU)

Diversified Trust Co lowered its holdings in Prudential Financial, Inc. (NYSE:PRU) by 55.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,973 shares of the financial services provider’s stock after selling 3,691 shares during the period. Diversified Trust Co’s holdings in Prudential Financial were worth $353,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of PRU. Glenmede Trust Co. NA lifted its position in Prudential Financial by 7.4% during the third quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock valued at $2,176,000 after purchasing an additional 1,234 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of 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 valued at $50,830,000 after buying an additional 15,695 shares in the last quarter. Janus Henderson Group PLC grew its position in Prudential Financial by 2.3% in the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock worth $9,597,000 after acquiring an additional 1,765 shares in the last quarter. First Horizon Advisors Inc. increased its stake in Prudential Financial by 4.3% in the third quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider’s stock valued at $19,701,000 after acquiring an additional 6,641 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in Prudential Financial by 18.7% during the third quarter. HighTower Advisors LLC now owns 69,542 shares of the financial services provider’s stock valued at $8,395,000 after purchasing an additional 10,964 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of research reports. Barclays upped their price objective on Prudential Financial from $119.00 to $129.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Bank of America lifted their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their price objective for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. TD Cowen lifted their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Finally, Piper Sandler boosted their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Eleven research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $127.17.

Prudential Financial Trading Down 3.4 %

NYSE:PRU opened at $114.41 on Friday. The company has a 50-day moving average price of $122.52 and a 200-day moving average price of $120.65. The stock has a market cap of $40.73 billion, a price-to-earnings ratio of 10.17, a P/E/G ratio of 0.87 and a beta of 1.31. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 12 month low of $100.60 and a 12 month high of $130.55.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the prior year, the business earned $3.44 EPS. Equities analysts predict that Prudential Financial, Inc. will post 13.35 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s dividend payout ratio is presently 46.22%.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of Prudential Financial stock in a transaction dated Monday, November 25th. The stock was purchased at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the acquisition, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is owned by company insiders.

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.