Mutual of America Capital Management LLC Sells 2,489 Shares of Prudential Financial, Inc. (NYSE:PRU)

Mutual of America Capital Management LLC reduced its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.9% in the 4th quarter, Holdings Channel reports. The firm owned 48,321 shares of the financial services provider’s stock after selling 2,489 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Prudential Financial were worth $5,011,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC raised its position in shares of Prudential Financial by 2.9% in the 3rd quarter. FMR LLC now owns 1,315,215 shares of the financial services provider’s stock worth $124,801,000 after acquiring an additional 36,599 shares in the last quarter. Czech National Bank raised its position in shares of Prudential Financial by 46.8% in the 3rd quarter. Czech National Bank now owns 63,444 shares of the financial services provider’s stock worth $6,020,000 after acquiring an additional 20,235 shares in the last quarter. Arvest Investments Inc. bought a new position in shares of Prudential Financial in the 4th quarter worth about $2,112,000. Victory Capital Management Inc. grew its stake in shares of Prudential Financial by 14.5% in the 3rd quarter. Victory Capital Management Inc. now owns 268,728 shares of the financial services provider’s stock valued at $25,500,000 after buying an additional 34,054 shares during the period. Finally, AustralianSuper Pty Ltd grew its stake in shares of Prudential Financial by 17.2% in the 4th quarter. AustralianSuper Pty Ltd now owns 868,535 shares of the financial services provider’s stock valued at $90,076,000 after buying an additional 127,772 shares during the period. 56.83% of the stock is owned by institutional investors.

Prudential Financial Price Performance

Prudential Financial stock opened at $109.69 on Monday. Prudential Financial, Inc. has a 52 week low of $77.22 and a 52 week high of $118.69. The company’s 50 day moving average price is $111.04 and its two-hundred day moving average price is $102.68. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The stock has a market cap of $39.38 billion, a P/E ratio of 16.40, a P/E/G ratio of 0.74 and a beta of 1.37.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.09). Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The firm had revenue of $13.02 billion for the quarter, compared to the consensus estimate of $12.99 billion. During the same period in the prior year, the business earned $2.42 EPS. Prudential Financial’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities analysts predict that Prudential Financial, Inc. will post 13.4 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Tuesday, February 20th were given a dividend of $1.30 per share. The ex-dividend date was Friday, February 16th. This represents a $5.20 annualized dividend and a dividend yield of 4.74%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. Prudential Financial’s dividend payout ratio (DPR) is currently 77.73%.

Insider Buying and Selling

In related news, SVP Timothy L. Schmidt sold 7,912 shares of Prudential Financial stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total value of $855,524.56. Following the sale, the senior vice president now owns 14,754 shares of the company’s stock, valued at approximately $1,595,350.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Prudential Financial news, EVP Andrew F. Sullivan sold 7,685 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total transaction of $857,415.45. Following the sale, the executive vice president now owns 13,691 shares of the company’s stock, valued at approximately $1,527,504.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Timothy L. Schmidt sold 7,912 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total transaction of $855,524.56. Following the sale, the senior vice president now directly owns 14,754 shares in the company, valued at approximately $1,595,350.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,255 shares of company stock valued at $3,215,664. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. JPMorgan Chase & Co. restated a “neutral” rating and issued a $118.00 target price (down from $119.00) on shares of Prudential Financial in a research note on Wednesday, January 3rd. TheStreet upgraded Prudential Financial from a “c+” rating to an “a-” rating in a research note on Tuesday, February 6th. Piper Sandler raised their target price on Prudential Financial from $114.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Wells Fargo & Company raised their target price on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research note on Thursday. Finally, Evercore ISI lifted their price target on Prudential Financial from $104.00 to $115.00 and gave the company an “underperform” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to MarketBeat, Prudential Financial has a consensus rating of “Hold” and a consensus target price of $110.67.

About Prudential Financial

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.