Prudential Financial, Inc. (NYSE:PRU) Position Decreased by Foundry Partners LLC

Foundry Partners LLC trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 284,501 shares of the financial services provider’s stock after selling 1,720 shares during the quarter. Prudential Financial accounts for about 1.7% of Foundry Partners LLC’s holdings, making the stock its 5th largest position. Foundry Partners LLC’s holdings in Prudential Financial were worth $34,453,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Legal & General Group Plc boosted its stake in Prudential Financial by 9.4% in the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock valued at $415,134,000 after acquiring an additional 305,143 shares during the last quarter. abrdn plc lifted its stake in Prudential Financial by 4.0% in the third quarter. abrdn plc now owns 1,309,155 shares of the financial services provider’s stock valued at $158,120,000 after purchasing an additional 50,026 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Prudential Financial by 4,130.8% during the third quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock valued at $157,219,000 after purchasing an additional 1,267,571 shares during the period. AustralianSuper Pty Ltd increased its position in Prudential Financial by 2.3% in the third quarter. AustralianSuper Pty Ltd now owns 1,265,996 shares of the financial services provider’s stock worth $153,312,000 after buying an additional 28,459 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Prudential Financial by 0.3% in the third quarter. Swiss National Bank now owns 1,065,600 shares of the financial services provider’s stock valued at $129,044,000 after buying an additional 2,700 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PRU has been the topic of a number of recent research reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a research note on Wednesday, August 21st. Wells Fargo & Company increased their price target on shares of Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Barclays raised their price objective on shares of Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their target price for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Finally, UBS Group raised their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Eleven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $125.69.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the stock in a transaction dated Tuesday, October 8th. The stock was purchased at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. The trade was a 6.61 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value 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 9.84 % 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 Stock Down 0.4 %

Shares of NYSE:PRU opened at $124.11 on Thursday. The firm has a market capitalization of $44.18 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. 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 $93.60 and a 52-week high of $129.13. The firm has a fifty day moving average of $122.86 and a 200 day moving average of $119.56.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period in the prior year, the business earned $3.44 EPS. As a group, research analysts anticipate that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s payout ratio is presently 46.22%.

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.