Garland Capital Management Inc. Has $4.66 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Garland Capital Management Inc. lowered its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,340 shares of the financial services provider’s stock after selling 1,800 shares during the period. Prudential Financial makes up about 3.8% of Garland Capital Management Inc.’s holdings, making the stock its 10th biggest position. Garland Capital Management Inc.’s holdings in Prudential Financial were worth $4,663,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB raised its holdings in shares of Prudential Financial by 176.8% during the fourth quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock valued at $123,804,000 after purchasing an additional 665,180 shares during the period. Raymond James Financial Inc. bought a new stake in Prudential Financial in the 4th quarter valued at about $76,303,000. Amundi raised its stake in Prudential Financial by 32.7% during the 4th quarter. Amundi now owns 1,535,514 shares of the financial services provider’s stock worth $181,851,000 after buying an additional 378,266 shares during the period. FMR LLC boosted its holdings in Prudential Financial by 31.3% in the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock worth $174,903,000 after acquiring an additional 344,254 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Prudential Financial by 4.1% in the third 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 acquiring an additional 341,787 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the purchase, the insider now directly owns 87,047 shares in the company, valued at approximately $2,499,989.84. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the transaction, the executive vice president now owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

PRU has been the subject of several recent research reports. Barclays boosted their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Piper Sandler decreased their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. BMO Capital Markets began coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective for the company. Wells Fargo & Company lifted their target price on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $126.15.

Prudential Financial Stock Performance

PRU stock opened at $110.35 on Friday. Prudential Financial, Inc. has a 1-year low of $104.45 and a 1-year high of $130.55. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market capitalization of $39.51 billion, a P/E ratio of 14.77, a PEG ratio of 0.98 and a beta of 1.28. The business has a 50-day moving average price of $113.57 and a 200 day moving average price of $119.05.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data 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%. As a group, equities research analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a dividend of $1.35 per share. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial’s dividend payout ratio is presently 72.29%.

Prudential Financial 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.