Prudential Financial, Inc. (NYSE:PRU) Shares Sold by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB decreased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 1.3% in the fourth quarter, Holdings Channel reports. The firm owned 67,697 shares of the financial services provider’s stock after selling 920 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Prudential Financial were worth $8,024,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Grove Bank & Trust grew its position in Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares during the last quarter. Avidian Wealth Enterprises LLC grew its holdings in shares of Prudential Financial by 1.2% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock valued at $891,000 after buying an additional 89 shares during the last quarter. Daymark Wealth Partners LLC increased its position in shares of Prudential Financial by 3.9% in the 3rd quarter. Daymark Wealth Partners LLC now owns 2,616 shares of the financial services provider’s stock valued at $317,000 after acquiring an additional 97 shares during the period. UMB Bank n.a. lifted its position in Prudential Financial by 2.7% during the 3rd quarter. UMB Bank n.a. now owns 3,660 shares of the financial services provider’s stock worth $443,000 after acquiring an additional 97 shares during the period. Finally, Pure Financial Advisors LLC grew its stake in Prudential Financial by 2.7% during the 3rd quarter. Pure Financial Advisors LLC now owns 3,748 shares of the financial services provider’s stock valued at $454,000 after purchasing an additional 97 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the acquisition, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This represents a 12.66 % 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. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PRU. Piper Sandler reduced their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday. Wells Fargo & Company decreased their price objective on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. TD Cowen increased their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their price target for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Finally, Bank of America lifted their price objective on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Eleven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and an average price target of $127.25.

Prudential Financial Stock Performance

Shares of PRU stock opened at $118.98 on Monday. The company has a market capitalization of $42.36 billion, a P/E ratio of 10.58, a P/E/G ratio of 0.75 and a beta of 1.31. Prudential Financial, Inc. has a 12-month low of $100.60 and a 12-month high of $130.55. The business’s 50 day moving average is $122.06 and its two-hundred day moving average is $120.67. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter last year, the company earned $3.44 EPS. Analysts expect that Prudential Financial, Inc. will post 13.34 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date was Tuesday, November 19th. Prudential Financial’s dividend payout ratio is presently 46.22%.

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.