Prudential Financial, Inc. (NYSE:PRU) Shares Sold by National Asset Management Inc.

National Asset Management Inc. lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRUGet Rating) by 22.4% during the first quarter, Holdings Channel.com reports. The fund owned 8,030 shares of the financial services provider’s stock after selling 2,313 shares during the period. National Asset Management Inc.’s holdings in Prudential Financial were worth $950,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. TFG Advisers LLC increased its stake in shares of Prudential Financial by 8.1% during the first quarter. TFG Advisers LLC now owns 8,481 shares of the financial services provider’s stock valued at $1,002,000 after acquiring an additional 634 shares during the period. D.A. Davidson & CO. increased its stake in shares of Prudential Financial by 2.6% during the fourth quarter. D.A. Davidson & CO. now owns 107,647 shares of the financial services provider’s stock valued at $11,654,000 after acquiring an additional 2,687 shares during the period. Retirement Systems of Alabama increased its stake in shares of Prudential Financial by 87.7% during the first quarter. Retirement Systems of Alabama now owns 235,143 shares of the financial services provider’s stock valued at $27,787,000 after acquiring an additional 109,895 shares during the period. Atria Investments LLC increased its stake in shares of Prudential Financial by 31.9% during the first quarter. Atria Investments LLC now owns 29,066 shares of the financial services provider’s stock valued at $3,435,000 after acquiring an additional 7,036 shares during the period. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of Prudential Financial during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 56.77% of the company’s stock.

Prudential Financial Stock Performance

NYSE:PRU opened at $96.87 on Tuesday. The firm’s 50-day moving average is $98.07 and its 200-day moving average is $107.95. Prudential Financial, Inc. has a 52-week low of $89.73 and a 52-week high of $124.22. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.06 and a current ratio of 0.06. The company has a market cap of $36.33 billion, a price-to-earnings ratio of 7.86, a PEG ratio of 0.98 and a beta of 1.46.

Prudential Financial (NYSE:PRUGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The financial services provider reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.50. Prudential Financial had a net margin of 8.09% and a return on equity of 9.35%. The company had revenue of $13.66 billion for the quarter, compared to the consensus estimate of $13.93 billion. During the same quarter in the previous year, the firm posted $4.11 EPS. Equities research analysts anticipate that Prudential Financial, Inc. will post 10.83 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 16th. Stockholders of record on Tuesday, May 24th were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, May 23rd. This represents a $4.80 annualized dividend and a dividend yield of 4.96%. Prudential Financial’s payout ratio is 38.93%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Royal Bank of Canada reduced their target price on shares of Prudential Financial from $125.00 to $112.00 and set a “sector perform” rating for the company in a report on Monday, July 11th. Piper Sandler decreased their price objective on shares of Prudential Financial from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, July 8th. JPMorgan Chase & Co. raised their price objective on shares of Prudential Financial from $120.00 to $122.00 in a research note on Monday, July 11th. The Goldman Sachs Group decreased their target price on shares of Prudential Financial from $116.00 to $99.00 and set a “neutral” rating for the company in a research note on Monday, June 6th. Finally, Morgan Stanley cut their price target on shares of Prudential Financial from $120.00 to $103.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 6th. Two investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $107.58.

Prudential Financial Profile

(Get Rating)

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 eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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