Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Nwam LLC

Nwam LLC reduced its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 10.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,734 shares of the financial services provider’s stock after selling 198 shares during the period. Nwam LLC’s holdings in Prudential Financial were worth $210,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PRU. First Horizon Advisors Inc. lifted its position in shares of Prudential Financial by 4.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider’s stock worth $19,701,000 after buying an additional 6,641 shares during the last quarter. ORG Partners LLC acquired a new stake in Prudential Financial during the second quarter worth about $156,000. PGGM Investments lifted its holdings in Prudential Financial by 98.0% in the second quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock worth $7,533,000 after acquiring an additional 31,807 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Prudential Financial by 49.5% in the first quarter. Janus Henderson Group PLC now owns 80,148 shares of the financial services provider’s stock valued at $9,409,000 after acquiring an additional 26,520 shares during the period. Finally, Deerfield Management Company L.P. Series C bought a new position in shares of Prudential Financial during the second quarter valued at approximately $530,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PRU. Barclays raised their price target on Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Bank of America boosted their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Morgan Stanley dropped their price objective on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Piper Sandler boosted their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their price target on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Eleven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $125.69.

Prudential Financial Stock Up 0.6 %

PRU opened at $128.72 on Tuesday. The stock’s fifty day moving average is $123.52 and its 200-day moving average is $119.82. Prudential Financial, Inc. has a one year low of $94.92 and a one year high of $129.69. The company has a market capitalization of $45.82 billion, a PE ratio of 11.44, a P/E/G ratio of 0.91 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same period in the prior year, the company earned $3.44 EPS. On average, equities analysts predict that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.04%. Prudential Financial’s dividend payout ratio is currently 46.22%.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the stock in a transaction on Tuesday, October 8th. The shares were purchased at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the transaction, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This trade represents a 6.61 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The trade was a 9.84 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

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.