American International Group Inc. Has $9.82 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

American International Group Inc. lowered its stake in Prudential Financial, Inc. (NYSE:PRU) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 94,682 shares of the financial services provider’s stock after selling 1,405 shares during the quarter. American International Group Inc.’s holdings in Prudential Financial were worth $9,819,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Choreo LLC increased its position in shares of Prudential Financial by 163.5% in the fourth quarter. Choreo LLC now owns 6,940 shares of the financial services provider’s stock valued at $720,000 after acquiring an additional 4,306 shares during the last quarter. FMR LLC increased its position in shares of Prudential Financial by 2.9% in the third quarter. FMR LLC now owns 1,315,215 shares of the financial services provider’s stock valued at $124,801,000 after acquiring an additional 36,599 shares during the last quarter. Crestline Management LP increased its position in shares of Prudential Financial by 50.0% in the fourth quarter. Crestline Management LP now owns 60,000 shares of the financial services provider’s stock valued at $6,223,000 after acquiring an additional 20,000 shares during the last quarter. Tyche Wealth Partners LLC bought a new position in Prudential Financial during the fourth quarter worth about $815,000. Finally, Arvest Investments Inc. bought a new position in Prudential Financial during the fourth quarter worth about $2,112,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on PRU. Wells Fargo & Company lifted their price target on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a report on Thursday, April 11th. Piper Sandler reduced their price target on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Keefe, Bruyette & Woods lifted their price target on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Jefferies Financial Group upgraded Prudential Financial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $121.00 to $143.00 in a report on Wednesday, May 22nd. Finally, Evercore ISI boosted their price objective on Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and a consensus price target of $115.25.

Prudential Financial Trading Up 1.0 %

Shares of PRU stock opened at $115.67 on Wednesday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67. The stock has a market cap of $41.53 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 0.85 and a beta of 1.35. The stock has a 50 day simple moving average of $115.10 and a 200 day simple moving average of $109.99. Prudential Financial, Inc. has a 1 year low of $83.34 and a 1 year high of $121.39.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.04). The company had revenue of $15.01 billion during the quarter, compared to the consensus estimate of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The company’s quarterly revenue was up 69.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.66 earnings per share. On average, research analysts predict that Prudential Financial, Inc. will post 13.41 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were given a dividend of $1.30 per share. The ex-dividend date was Monday, May 20th. This represents a $5.20 annualized dividend and a yield of 4.50%. Prudential Financial’s dividend payout ratio is currently 88.44%.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Robert Falzon sold 130,092 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the completion of the transaction, the executive vice president now directly owns 202,083 shares in the company, valued at $23,960,981.31. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Prudential Financial news, EVP Robert Falzon sold 130,092 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the completion of the transaction, the executive vice president now directly owns 202,083 shares in the company, valued at $23,960,981.31. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Timothy L. Schmidt sold 5,189 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total transaction of $604,933.62. Following the transaction, the senior vice president now owns 12,236 shares of the company’s stock, valued at $1,426,472.88. The disclosure for this sale can be found here. Company 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.