Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Dakota Wealth Management

Dakota Wealth Management reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 5.7% in the 4th quarter, Holdings Channel reports. The firm owned 16,160 shares of the financial services provider’s stock after selling 972 shares during the quarter. Dakota Wealth Management’s holdings in Prudential Financial were worth $1,915,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its position in Prudential Financial by 66.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 225,061 shares of the financial services provider’s stock valued at $26,676,000 after buying an additional 89,733 shares during the last quarter. Sheets Smith Wealth Management purchased a new position in Prudential Financial in the 4th quarter valued at about $263,000. Ballentine Partners LLC boosted its position in Prudential Financial by 7.9% in the 4th quarter. Ballentine Partners LLC now owns 8,191 shares of the financial services provider’s stock valued at $971,000 after buying an additional 598 shares during the last quarter. Pure Financial Advisors LLC boosted its position in Prudential Financial by 4.0% in the 4th quarter. Pure Financial Advisors LLC now owns 3,898 shares of the financial services provider’s stock valued at $462,000 after buying an additional 150 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in Prudential Financial by 5.5% in the 4th quarter. UMB Bank n.a. now owns 3,861 shares of the financial services provider’s stock valued at $458,000 after buying an additional 201 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.31% of the company’s stock.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $116.75 on Friday. The firm’s 50 day moving average is $121.68 and its two-hundred day moving average is $120.69. Prudential Financial, Inc. has a 52 week low of $100.60 and a 52 week high of $130.55. The firm has a market capitalization of $41.56 billion, a P/E ratio of 10.38, a PEG ratio of 1.11 and a beta of 1.31. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter last year, the business earned $3.44 earnings per share. Analysts anticipate that Prudential Financial, Inc. will post 13.26 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were paid a $1.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.45%. Prudential Financial’s payout ratio is currently 46.22%.

Analyst Ratings Changes

A number of research firms have weighed in on PRU. Keefe, Bruyette & Woods decreased their price objective on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research report on Thursday, January 16th. Barclays increased their price target on shares of Prudential Financial from $127.00 to $128.00 and gave the stock an “equal weight” rating in a research report on Thursday. BMO Capital Markets assumed coverage on shares of Prudential Financial in a research report on Thursday. They set an “underperform” rating and a $101.00 price target on the stock. Bank of America increased their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, TD Cowen increased their price target on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $125.31.

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.