Stephens Inc. AR Has $3.36 Million Stake in Prudential Financial, Inc. $PRU

Stephens Inc. AR lowered its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 24.7% during the third quarter, Holdings Channel reports. The institutional investor owned 32,419 shares of the financial services provider’s stock after selling 10,613 shares during the quarter. Stephens Inc. AR’s holdings in Prudential Financial were worth $3,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Proffitt & Goodson Inc. boosted its position in shares of Prudential Financial by 12.7% during the 2nd quarter. Proffitt & Goodson Inc. now owns 871 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 98 shares in the last quarter. Summit Global Investments lifted its stake in Prudential Financial by 1.3% during the second quarter. Summit Global Investments now owns 7,609 shares of the financial services provider’s stock worth $817,000 after purchasing an additional 100 shares during the period. Woodward Diversified Capital LLC boosted its holdings in Prudential Financial by 1.4% during the third quarter. Woodward Diversified Capital LLC now owns 7,662 shares of the financial services provider’s stock valued at $795,000 after purchasing an additional 103 shares in the last quarter. Pitcairn Co. grew its stake in shares of Prudential Financial by 2.7% in the 2nd quarter. Pitcairn Co. now owns 3,973 shares of the financial services provider’s stock valued at $427,000 after purchasing an additional 104 shares during the period. Finally, Eagle Capital Management LLC raised its holdings in shares of Prudential Financial by 0.3% in the 2nd quarter. Eagle Capital Management LLC now owns 35,806 shares of the financial services provider’s stock worth $3,847,000 after buying an additional 108 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Activity

In other Prudential Financial news, EVP Caroline Feeney sold 6,555 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was 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 directly owned 22,523 shares of the company’s stock, valued at approximately $2,618,974.44. The trade was a 22.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Charles F. Lowrey sold 48,164 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the transaction, the chairman owned 165,564 shares in the company, valued at approximately $17,779,917.96. The trade was a 22.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 62,719 shares of company stock valued at $6,796,067. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PRU shares. Barclays lowered their price target on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Piper Sandler boosted their target price on shares of Prudential Financial from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, December 23rd. Keefe, Bruyette & Woods increased their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Weiss Ratings upgraded shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Finally, Wall Street Zen lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $118.80.

Prudential Financial Stock Down 4.0%

Shares of NYSE:PRU opened at $111.76 on Friday. 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 firm has a market cap of $39.11 billion, a P/E ratio of 15.35, a P/E/G ratio of 0.93 and a beta of 0.97. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $123.88. The company’s 50-day moving average price is $112.09 and its two-hundred day moving average price is $107.22.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, October 29th. The financial services provider reported $4.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.72 by $0.54. The company had revenue of $17.89 billion for the quarter, compared to analyst estimates of $13.77 billion. Prudential Financial had a net margin of 4.65% and a return on equity of 16.60%. During the same period in the prior year, the business earned $3.48 earnings per share. As a group, research analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Tuesday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is presently 74.18%.

Prudential Financial Company Profile

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.