Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 9.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,885 shares of the financial services provider’s stock after selling 2,172 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Prudential Financial were worth $2,529,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Key Client Fiduciary Advisors LLC lifted its stake in Prudential Financial by 0.6% in the third quarter. Key Client Fiduciary Advisors LLC now owns 21,578 shares of the financial services provider’s stock valued at $2,613,000 after buying an additional 119 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Prudential Financial by 0.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 279,890 shares of the financial services provider’s stock valued at $33,895,000 after acquiring an additional 2,569 shares during the period. Blue Trust Inc. boosted its stake in Prudential Financial by 90.4% during the 3rd quarter. Blue Trust Inc. now owns 4,843 shares of the financial services provider’s stock worth $567,000 after purchasing an additional 2,300 shares during the period. OmniStar Financial Group Inc. purchased a new position in Prudential Financial during the 3rd quarter worth $660,000. Finally, Aaron Wealth Advisors LLC raised its holdings in shares of Prudential Financial by 45.6% in the third quarter. Aaron Wealth Advisors LLC now owns 2,914 shares of the financial services provider’s stock valued at $353,000 after buying an additional 912 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Down 0.3 %

PRU opened at $125.27 on Wednesday. Prudential Financial, Inc. has a one year low of $89.09 and a one year high of $128.52. The company has a market cap of $44.72 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 0.94 and a beta of 1.30. The business’s fifty day moving average is $120.63 and its two-hundred day moving average is $118.07. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Analysts anticipate that Prudential Financial, Inc. will post 13.3 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were paid a dividend of $1.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.15%. Prudential Financial’s dividend payout ratio (DPR) is 66.84%.

Analyst Ratings Changes

Several equities analysts recently issued reports on PRU shares. UBS Group boosted their price target on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Bank of America upped their price target on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. TD Cowen assumed coverage on shares of Prudential Financial in a research report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 price objective on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st. Finally, Piper Sandler boosted their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $123.69.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was bought at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the acquisition, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the sale, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of Prudential Financial stock in a transaction that occurred 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 purchase, the insider now directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by corporate insiders.

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.