Prudential Financial, Inc. $PRU Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 4.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 101,404 shares of the financial services provider’s stock after selling 5,174 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Prudential Financial were worth $10,520,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRU. Brighton Jones LLC increased its position in shares of Prudential Financial by 3.7% during the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 133 shares during the period. Empowered Funds LLC boosted its stake in Prudential Financial by 30.5% during the first quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock valued at $1,976,000 after buying an additional 4,134 shares in the last quarter. Glenview Trust co raised its position in Prudential Financial by 37.5% in the first quarter. Glenview Trust co now owns 2,862 shares of the financial services provider’s stock worth $320,000 after acquiring an additional 780 shares in the last quarter. Integrity Alliance LLC. acquired a new stake in Prudential Financial in the 1st quarter valued at about $229,000. Finally, Belpointe Asset Management LLC boosted its position in shares of Prudential Financial by 15.8% during the 1st quarter. Belpointe Asset Management LLC now owns 9,333 shares of the financial services provider’s stock valued at $1,042,000 after purchasing an additional 1,270 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PRU. Morgan Stanley increased their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Barclays cut their price objective on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their target price on Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Prudential Financial in a report on Monday, December 29th. Finally, Piper Sandler increased their price target on Prudential Financial from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, December 23rd. Eleven investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Prudential Financial currently has an average rating of “Reduce” and a consensus price target of $118.60.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $118.13 on Friday. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $123.88. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The stock has a market cap of $41.35 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 0.94 and a beta of 0.97. The business has a fifty day simple moving average of $111.00 and a 200-day simple moving average of $106.90.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%.The firm had revenue of $8.35 billion during the quarter. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, November 18th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $5.40 dividend on an annualized basis and a yield of 4.6%. Prudential Financial’s payout ratio is presently 74.18%.

Insiders Place Their Bets

In other Prudential Financial news, EVP Caroline Feeney sold 6,555 shares of Prudential Financial stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $116.28, for a total transaction of $762,215.40. Following the completion of the sale, the executive vice president owned 22,523 shares of the company’s stock, valued at $2,618,974.44. This trade represents a 22.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Timothy L. Schmidt sold 8,000 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $107.69, for a total transaction of $861,520.00. Following the transaction, the senior vice president owned 11,535 shares in the company, valued at approximately $1,242,204.15. This represents a 40.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 62,719 shares of company stock worth $6,796,067 in the last quarter. 0.25% of the stock is currently owned by corporate insiders.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.