Everence Capital Management Inc. Cuts Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Everence Capital Management Inc. reduced its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,730 shares of the financial services provider’s stock after selling 430 shares during the period. Everence Capital Management Inc.’s holdings in Prudential Financial were worth $1,627,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PRU. Ashton Thomas Securities LLC bought a new position in shares of Prudential Financial during the 3rd quarter worth approximately $31,000. Strategic Financial Concepts LLC boosted its position in Prudential Financial by 1,312.4% in the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 25,027 shares during the last quarter. Quarry LP grew its stake in Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 222 shares during the period. Tompkins Financial Corp increased its position in shares of Prudential Financial by 61.7% during the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 140 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its holdings in shares of Prudential Financial by 235.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock worth $46,000 after buying an additional 266 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PRU shares. Piper Sandler raised their price objective on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Bank of America upped 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. Barclays raised their target price on Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. TD Cowen upped their price target on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Finally, Jefferies Financial Group lifted their price objective on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Eleven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $126.33.

Prudential Financial Trading Up 0.7 %

Shares of PRU stock opened at $119.14 on Friday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The firm has a market cap of $42.41 billion, a P/E ratio of 10.59, a price-to-earnings-growth ratio of 0.87 and a beta of 1.29. The business has a 50-day moving average price of $123.25 and a two-hundred day moving average price of $120.58. Prudential Financial, Inc. has a 12-month low of $100.60 and a 12-month high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data 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. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The company had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the prior year, the company earned $3.44 EPS. Equities analysts anticipate that Prudential Financial, Inc. will post 13.35 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is currently 46.22%.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of Prudential Financial stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.

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.