Thrivent Financial for Lutherans Has $2.55 Million Stock Holdings in Prudential Financial, Inc. $PRU

Thrivent Financial for Lutherans decreased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 23.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,548 shares of the financial services provider’s stock after selling 7,596 shares during the period. Thrivent Financial for Lutherans’ holdings in Prudential Financial were worth $2,546,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Brighton Jones LLC raised 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 during the period. Empowered Funds LLC lifted its position in Prudential Financial by 30.5% during the first quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock worth $1,976,000 after acquiring an additional 4,134 shares during the last quarter. Blair William & Co. IL boosted its holdings in shares of Prudential Financial by 6.7% during the second quarter. Blair William & Co. IL now owns 28,554 shares of the financial services provider’s stock worth $3,068,000 after acquiring an additional 1,781 shares during the period. Blue Trust Inc. grew its position in shares of Prudential Financial by 17.8% in the second quarter. Blue Trust Inc. now owns 1,792 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 271 shares during the last quarter. Finally, PDS Planning Inc increased its stake in shares of Prudential Financial by 29.8% during the second quarter. PDS Planning Inc now owns 2,668 shares of the financial services provider’s stock worth $287,000 after purchasing an additional 613 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Trading Down 0.5%

Shares of PRU stock opened at $102.24 on Tuesday. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $119.76. The stock’s fifty day moving average price is $112.32 and its two-hundred day moving average price is $107.41. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market cap of $35.78 billion, a PE ratio of 10.22, a P/E/G ratio of 1.17 and a beta of 0.97.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share for the quarter, missing the consensus estimate of $3.37 by ($0.07). The business had revenue of $14.52 billion for the quarter, compared to the consensus estimate of $14.48 billion. Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.During the same quarter in the prior year, the company earned $2.96 earnings per share. Equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Tuesday, February 17th will be given a $1.40 dividend. This is an increase from Prudential Financial’s previous quarterly dividend of $1.35. This represents a $5.60 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Tuesday, February 17th. Prudential Financial’s dividend payout ratio (DPR) is 54.00%.

Insider Activity at Prudential Financial

In other news, EVP Jacques Chappuis bought 1,000 shares of the stock in a transaction on Friday, February 6th. The stock was acquired at an average price of $100.97 per share, with a total value of $100,970.00. Following the acquisition, the executive vice president directly owned 1,000 shares in the company, valued at approximately $100,970. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Caroline Feeney sold 6,555 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $116.28, for a total value of $762,215.40. Following the completion of the transaction, the executive vice president owned 22,523 shares of the company’s stock, valued at $2,618,974.44. This represents a 22.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PRU has been the topic of a number of research reports. Piper Sandler upped their price objective on Prudential Financial from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, December 23rd. Wall Street Zen downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. UBS Group raised their price target on shares of Prudential Financial from $111.00 to $116.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Evercore decreased their target price on shares of Prudential Financial from $122.00 to $110.00 and set an “in-line” rating on the stock in a research report on Thursday, February 5th. Finally, Wells Fargo & Company lifted their price objective on Prudential Financial from $113.00 to $115.00 and gave the company an “equal weight” rating in a report on Tuesday, January 13th. One investment analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and an average price target of $118.44.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.