Advisors Asset Management Inc. Decreases Stock Holdings in Prudential Financial, Inc. $PRU

Advisors Asset Management Inc. reduced its holdings in Prudential Financial, Inc. (NYSE:PRU) by 32.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,528 shares of the financial services provider’s stock after selling 7,369 shares during the period. Advisors Asset Management Inc.’s holdings in Prudential Financial were worth $1,611,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Darwin Wealth Management LLC purchased a new position in Prudential Financial in the second quarter worth about $36,000. Chilton Capital Management LLC lifted its stake in shares of Prudential Financial by 146.5% in the 3rd quarter. Chilton Capital Management LLC now owns 350 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 208 shares during the last quarter. AlphaCore Capital LLC purchased a new position in shares of Prudential Financial in the 2nd quarter worth approximately $39,000. Capital A Wealth Management LLC raised its holdings in Prudential Financial by 4,600.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock valued at $39,000 after buying an additional 368 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new stake in Prudential Financial in the second quarter worth $51,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Jacques Chappuis acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were bought at an average cost of $100.97 per share, with a total value of $100,970.00. Following the completion of the acquisition, the executive vice president directly owned 1,000 shares in the company, valued at $100,970. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy L. Schmidt sold 8,000 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $107.69, for a total value of $861,520.00. Following the sale, the senior vice president owned 11,535 shares of the company’s stock, valued at approximately $1,242,204.15. This represents a 40.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have bought 1,408,139 shares of company stock worth $35,128,697. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PRU has been the topic of several recent analyst reports. Mizuho reduced their target price on shares of Prudential Financial from $126.00 to $113.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 10th. Wall Street Zen downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Piper Sandler raised their price objective on shares of Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 23rd. Keefe, Bruyette & Woods upped their target price on Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a research note on Monday, November 3rd. Finally, Wells Fargo & Company increased their price target on Prudential Financial from $113.00 to $115.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. One research analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Prudential Financial presently has an average rating of “Hold” and an average target price of $117.11.

Prudential Financial Stock Up 0.4%

Shares of NYSE PRU opened at $104.58 on Tuesday. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $119.76. The firm has a market capitalization of $36.39 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 1.19 and a beta of 0.97. The stock has a 50 day moving average price of $111.74 and a 200 day moving average price of $107.44. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.07). Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. The firm had revenue of $15.69 billion for the quarter, compared to the consensus estimate of $14.48 billion. During the same period last year, the firm earned $2.96 earnings per share. Sell-side analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Tuesday, February 17th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 5.4%. The ex-dividend date is Tuesday, February 17th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.35. Prudential Financial’s dividend payout ratio (DPR) is currently 54.00%.

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.