AGF Management Ltd. Sells 5,651 Shares of Prudential Financial, Inc. $PRU

AGF Management Ltd. cut its holdings in Prudential Financial, Inc. (NYSE:PRU) by 51.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,318 shares of the financial services provider’s stock after selling 5,651 shares during the period. AGF Management Ltd.’s holdings in Prudential Financial were worth $571,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC grew its position in shares of Prudential Financial by 3.7% in the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 133 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Prudential Financial by 4.5% in the 1st quarter. New York State Common Retirement Fund now owns 240,089 shares of the financial services provider’s stock worth $26,813,000 after purchasing an additional 10,321 shares during the period. CWM LLC grew its holdings in Prudential Financial by 8.8% during the 1st quarter. CWM LLC now owns 15,976 shares of the financial services provider’s stock valued at $1,784,000 after buying an additional 1,290 shares in the last quarter. Cutter & CO Brokerage Inc. bought a new stake in shares of Prudential Financial during the first quarter valued at about $233,000. Finally, Edgestream Partners L.P. purchased a new stake in shares of Prudential Financial in the first quarter worth about $2,753,000. Institutional investors own 56.83% of the company’s stock.

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the sale, the executive vice president directly owned 21,506 shares in the company, valued at $2,358,132.90. This represents a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by corporate insiders.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $106.71 on Wednesday. The stock’s 50-day moving average is $103.68 and its 200 day moving average is $104.62. The stock has a market cap of $37.35 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 0.88 and a beta of 1.05. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. The business had revenue of $8.35 billion during the quarter. Prudential Financial had a return on equity of 16.98% and a net margin of 4.65%. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Tuesday, November 18th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Tuesday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is presently 74.18%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays decreased their target price on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Piper Sandler reduced their price target on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a research report on Wednesday, July 16th. Morgan Stanley increased their price objective on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Weiss Ratings restated a “hold (c)” rating on shares of Prudential Financial in a research report on Wednesday, October 8th. Finally, Evercore ISI upped their target price on Prudential Financial from $120.00 to $122.00 and gave the stock an “in-line” rating in a research note on Thursday, October 30th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and an average target price of $120.73.

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.