Atria Wealth Solutions Inc. Cuts Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Atria Wealth Solutions Inc. decreased its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,588 shares of the financial services provider’s stock after selling 157 shares during the period. Atria Wealth Solutions Inc.’s holdings in Prudential Financial were worth $5,641,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. State Street Corp boosted its position in shares of Prudential Financial by 0.3% during the third quarter. State Street Corp now owns 17,007,013 shares of the financial services provider’s stock valued at $2,059,549,000 after buying an additional 49,830 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Prudential Financial by 4.1% during the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock valued at $1,047,872,000 after buying an additional 341,787 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Prudential Financial by 1.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider’s stock valued at $370,327,000 after buying an additional 47,561 shares during the last quarter. FMR LLC boosted its position in shares of Prudential Financial by 31.3% during the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after buying an additional 344,254 shares during the last quarter. Finally, abrdn plc lifted its holdings in Prudential Financial by 4.0% during the third quarter. abrdn plc now owns 1,309,155 shares of the financial services provider’s stock worth $158,120,000 after acquiring an additional 50,026 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the transaction, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 0.34% of the stock is owned by company insiders.

Prudential Financial Stock Performance

NYSE:PRU opened at $111.59 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 52-week low of $104.44 and a 52-week high of $130.55. The firm has a market cap of $39.95 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 0.99 and a beta of 1.31. The business’s fifty day moving average is $117.29 and its 200 day moving average is $119.65.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Research analysts predict that Prudential Financial, Inc. will post 14.34 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.84%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Tuesday, February 18th. Prudential Financial’s payout ratio is presently 69.61%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PRU. Jefferies Financial Group lifted their price target on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. BMO Capital Markets began coverage on Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price target on the stock. Wells Fargo & Company lifted their price target on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price target for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Finally, Piper Sandler lowered their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $125.69.

Prudential Financial Company 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.