Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its holdings in Prudential Financial, Inc. (NYSE:PRU) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,542 shares of the financial services provider’s stock after selling 1,736 shares during the period. Amalgamated Bank’s holdings in Prudential Financial were worth $8,124,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Commonwealth Retirement Investments LLC boosted its holdings in Prudential Financial by 1.5% in the fourth quarter. Commonwealth Retirement Investments LLC now owns 14,370 shares of the financial services provider’s stock valued at $1,703,000 after purchasing an additional 219 shares during the period. Horizon Advisory Services Inc. acquired a new stake in Prudential Financial in the 4th quarter valued at about $405,000. Bank of New York Mellon Corp grew its position in shares of Prudential Financial by 0.3% during the fourth 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 buying an additional 6,938 shares in the last quarter. CWS Financial Advisors LLC increased its stake in shares of Prudential Financial by 35.4% during the fourth quarter. CWS Financial Advisors LLC now owns 2,481 shares of the financial services provider’s stock worth $294,000 after buying an additional 649 shares during the period. Finally, Addison Advisors LLC raised its holdings in Prudential Financial by 839.2% in the fourth quarter. Addison Advisors LLC now owns 958 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 856 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Trading Up 0.6 %

PRU opened at $111.81 on Thursday. The firm has a market cap of $40.03 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 0.98 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 business’s 50 day moving average is $116.46 and its two-hundred day moving average is $119.77. 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 released its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. On average, research analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.83%. 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. Prudential Financial’s payout ratio is 72.29%.

Wall Street Analyst Weigh In

Several research analysts have commented on PRU shares. Wells Fargo & Company boosted their price target on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. BMO Capital Markets assumed coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price for the company. Keefe, Bruyette & Woods cut their price target on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 12th. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and upped their price objective for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. Finally, Piper Sandler cut their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial presently has a consensus rating of “Hold” and an average price target of $125.69.

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.