Prudential Financial, Inc. (NYSE:PRU) Shares Sold by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC lowered its holdings in Prudential Financial, Inc. (NYSE:PRU) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,131 shares of the financial services provider’s stock after selling 677 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in Prudential Financial were worth $5,468,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PRU. Vanguard Group Inc. raised its stake in shares of Prudential Financial by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider’s stock valued at $4,960,547,000 after buying an additional 220,671 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Prudential Financial by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 8,856,360 shares of the financial services provider’s stock worth $1,050,635,000 after buying an additional 193,681 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Prudential Financial by 23.7% in the fourth quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider’s stock worth $555,513,000 after buying an additional 897,916 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Prudential Financial by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,454,278 shares of the financial services provider’s stock worth $290,906,000 after purchasing an additional 6,938 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Prudential Financial by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,409,521 shares of the financial services provider’s stock worth $285,601,000 after purchasing an additional 26,210 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were acquired at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the purchase, the insider now directly owns 139,987 shares in the company, valued at approximately $3,992,429.24. This trade represents a 60.18% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the sale, the executive vice president now directly owns 27,072 shares of the company’s stock, valued at $2,869,090.56. The trade was a 18.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on PRU shares. Barclays dropped their price target on shares of Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. UBS Group dropped their target price on Prudential Financial from $130.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Piper Sandler reduced their price target on Prudential Financial from $110.00 to $109.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Morgan Stanley dropped their price objective on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Finally, Wells Fargo & Company upped their target price on Prudential Financial from $108.00 to $113.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Prudential Financial has an average rating of “Hold” and a consensus target price of $121.92.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $107.48 on Wednesday. The stock has a market capitalization of $38.05 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The firm has a 50-day simple moving average of $104.77 and a 200-day simple moving average of $114.37. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.11. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The business had revenue of $13.61 billion during the quarter, compared to analyst estimates of $14.76 billion. During the same period in the prior year, the business earned $3.12 earnings per share. The business’s revenue was down 38.2% compared to the same quarter last year. On average, equities analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $5.40 annualized dividend and a dividend yield of 5.02%. Prudential Financial’s payout ratio is 85.58%.

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.