New York State Common Retirement Fund Sells 10,000 Shares of Prudential Financial, Inc. (NYSE:PRU)

New York State Common Retirement Fund reduced its position in Prudential Financial, Inc. (NYSE:PRU) by 4.2% in the 4th quarter, Holdings Channel reports. The firm owned 229,768 shares of the financial services provider’s stock after selling 10,000 shares during the quarter. New York State Common Retirement Fund’s holdings in Prudential Financial were worth $27,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. International Assets Investment Management LLC raised its position in Prudential Financial by 4,130.8% in the third quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock worth $157,219,000 after purchasing an additional 1,267,571 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Prudential Financial by 176.8% in the 4th quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock worth $123,804,000 after buying an additional 665,180 shares in the last quarter. FMR LLC lifted its position in shares of Prudential Financial by 31.3% during the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock worth $174,903,000 after buying an additional 344,254 shares during the period. Geode Capital Management LLC boosted its stake in Prudential Financial by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock valued at $1,047,872,000 after buying an additional 341,787 shares in the last quarter. Finally, Capital Advisors Inc. OK bought a new stake in Prudential Financial in the third quarter valued at $30,226,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction on Monday, November 25th. The shares were purchased at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the acquisition, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price on the stock. Jefferies Financial Group boosted their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Barclays raised their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Wells Fargo & Company boosted their target price on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Piper Sandler dropped their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $125.69.

Prudential Financial Stock Down 1.5 %

NYSE PRU opened at $109.45 on Friday. The stock has a market capitalization of $39.18 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 0.99 and a beta of 1.31. Prudential Financial, Inc. has a 52 week low of $104.44 and a 52 week 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. The stock has a fifty day moving average of $116.88 and a 200-day moving average of $119.62.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share 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%. On average, equities research analysts forecast that Prudential Financial, Inc. will post 14.34 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.93%. Prudential Financial’s dividend payout ratio (DPR) is presently 72.29%.

Prudential Financial Company 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.