Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Atria Investments Inc

Atria Investments Inc decreased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,789 shares of the financial services provider’s stock after selling 1,183 shares during the quarter. Atria Investments Inc’s holdings in Prudential Financial were worth $3,850,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. National Bank of Canada FI grew its position in shares of Prudential Financial by 44.9% during the first quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock worth $27,327,000 after acquiring an additional 71,274 shares during the last quarter. ORG Partners LLC purchased a new position in shares of Prudential Financial during the second quarter valued at approximately $156,000. Russell Investments Group Ltd. increased its stake in Prudential Financial by 25.0% in the first quarter. Russell Investments Group Ltd. now owns 180,555 shares of the financial services provider’s stock valued at $21,171,000 after purchasing an additional 36,159 shares during the last quarter. PGGM Investments boosted its position in shares of 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. Finally, State Board of Administration of Florida Retirement System increased its stake in Prudential Financial by 6.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 406,295 shares of the financial services provider’s stock worth $47,699,000 after acquiring an additional 25,196 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on PRU shares. Citigroup upped their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. UBS Group boosted their price target on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. TD Cowen began coverage on Prudential Financial in a research note on Wednesday, October 9th. They set a “hold” rating and a $130.00 price objective for the company. Piper Sandler boosted their price objective on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their price target on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Prudential Financial has an average rating of “Hold” and an average target price of $123.85.

Prudential Financial Price Performance

Shares of PRU stock opened at $125.49 on Wednesday. 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, Inc. has a 52-week low of $91.07 and a 52-week high of $129.13. The stock has a market cap of $44.67 billion, a PE ratio of 11.15, a PEG ratio of 0.87 and a beta of 1.29. The firm’s 50 day moving average price is $121.55 and its two-hundred day moving average price is $118.91.

Prudential Financial (NYSE:PRU) last released its 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. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The business had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter last year, the firm earned $3.44 earnings per share. As a group, analysts forecast that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is currently 46.22%.

Insider Buying and Selling at Prudential Financial

In other news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were bought at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the transaction, the insider now directly owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Prudential Financial 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.