Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Courier Capital LLC

Courier Capital LLC lowered its position in Prudential Financial, Inc. (NYSE:PRU) by 0.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 26,230 shares of the financial services provider’s stock after selling 102 shares during the period. Courier Capital LLC’s holdings in Prudential Financial were worth $3,109,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp raised its holdings in Prudential Financial by 0.3% during the third quarter. State Street Corp now owns 17,007,013 shares of the financial services provider’s stock worth $2,059,549,000 after purchasing an additional 49,830 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Prudential Financial by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock worth $1,047,872,000 after acquiring an additional 341,787 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Prudential Financial by 9.4% in the 2nd quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock worth $415,134,000 after buying an additional 305,143 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Prudential Financial by 1.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider’s stock worth $370,327,000 after purchasing an additional 47,561 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Prudential Financial by 31.3% during the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after acquiring an additional 344,254 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the transaction, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Price Performance

PRU stock traded up $1.94 during midday trading on Monday, reaching $116.47. 1,237,699 shares of the stock were exchanged, compared to its average volume of 1,309,648. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The stock has a market capitalization of $41.46 billion, a PE ratio of 10.35, a P/E/G ratio of 0.87 and a beta of 1.31. Prudential Financial, Inc. has a 52 week low of $100.60 and a 52 week high of $130.55. The company has a fifty day moving average price of $122.52 and a 200 day moving average price of $120.67.

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 analyst estimates of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same period in the previous year, the firm posted $3.44 EPS. As a group, analysts expect that Prudential Financial, Inc. will post 13.35 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.46%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s payout ratio is presently 46.22%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PRU. Jefferies Financial Group increased their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Bank of America increased their price target on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Barclays raised their price target on shares of Prudential Financial from $119.00 to $129.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. TD Cowen boosted their price objective on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Finally, Piper Sandler increased their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Eleven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $127.17.

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.