Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Dean Investment Associates LLC

Dean Investment Associates LLC decreased its position in Prudential Financial, Inc. (NYSE:PRU) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,386 shares of the financial services provider’s stock after selling 526 shares during the quarter. Prudential Financial accounts for approximately 0.8% of Dean Investment Associates LLC’s holdings, making the stock its 29th largest position. Dean Investment Associates LLC’s holdings in Prudential Financial were worth $5,380,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Prudential Financial in the 4th quarter worth about $115,878,000. Nordea Investment Management AB increased its position in Prudential Financial by 176.8% in the 4th quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock valued at $123,804,000 after acquiring an additional 665,180 shares during the period. Raymond James Financial Inc. bought a new stake in Prudential Financial during the 4th quarter valued at $76,303,000. Marshall Wace LLP grew its stake in shares of Prudential Financial by 322.9% in the fourth quarter. Marshall Wace LLP now owns 711,102 shares of the financial services provider’s stock worth $84,287,000 after purchasing an additional 542,964 shares in the last quarter. Finally, Amundi increased its holdings in shares of Prudential Financial by 32.7% during the fourth quarter. Amundi now owns 1,535,514 shares of the financial services provider’s stock valued at $181,851,000 after purchasing an additional 378,266 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Performance

NYSE:PRU opened at $98.64 on Thursday. The firm’s 50-day moving average is $108.18 and its 200-day moving average is $117.18. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market cap of $34.96 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.98 and a beta of 1.11. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. Equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 5.47%. The ex-dividend date was Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio is presently 72.29%.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of Prudential Financial stock in a transaction on Tuesday, March 25th. The shares were purchased at an average cost of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the purchase, the insider now owns 139,987 shares in the company, valued at $3,992,429.24. The trade was a 60.18 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the sale, the executive vice president now owns 27,072 shares in the company, valued at $2,869,090.56. This represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PRU. Keefe, Bruyette & Woods reduced their price target on shares of Prudential Financial from $125.00 to $120.00 and set a “market perform” rating for the company in a research note on Wednesday, April 9th. Piper Sandler dropped their price target on shares of Prudential Financial from $122.00 to $110.00 and set a “neutral” rating on the stock in a research report on Tuesday. Wells Fargo & Company dropped their price target on Prudential Financial from $118.00 to $108.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. decreased their target price on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Finally, UBS Group dropped their price target on Prudential Financial from $130.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Prudential Financial has a consensus rating of “Hold” and a consensus target price of $121.85.

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.