Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Weaver C. Barksdale & Associates Inc.

Weaver C. Barksdale & Associates Inc. decreased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 18,922 shares of the financial services provider’s stock after selling 477 shares during the period. Prudential Financial comprises approximately 2.1% of Weaver C. Barksdale & Associates Inc.’s holdings, making the stock its 10th largest position. Weaver C. Barksdale & Associates Inc.’s holdings in Prudential Financial were worth $2,243,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meridian Wealth Management LLC bought a new position in shares of Prudential Financial in the third quarter valued at approximately $280,000. Great Valley Advisor Group Inc. boosted its holdings in Prudential Financial by 7.8% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 7,766 shares of the financial services provider’s stock worth $940,000 after acquiring an additional 559 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Prudential Financial by 4.0% in the 3rd quarter. Cerity Partners LLC now owns 130,778 shares of the financial services provider’s stock worth $15,837,000 after acquiring an additional 5,011 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of Prudential Financial by 3.5% in the third quarter. Kingsview Wealth Management LLC now owns 7,012 shares of the financial services provider’s stock valued at $849,000 after purchasing an additional 237 shares during the last quarter. Finally, Swedbank AB boosted its holdings in Prudential Financial by 4.2% during the third quarter. Swedbank AB now owns 311,700 shares of the financial services provider’s stock worth $37,747,000 after purchasing an additional 12,468 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

PRU has been the topic of several recent analyst reports. Piper Sandler dropped their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Barclays boosted their price objective on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods decreased their target price on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. BMO Capital Markets initiated coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target on the stock. Finally, Wells Fargo & Company raised their price objective on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $126.15.

Insider Activity

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the transaction, the executive vice president now owns 27,072 shares of the company’s stock, valued at $2,869,090.56. The trade was a 18.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were bought at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the completion of the acquisition, the insider now directly owns 87,047 shares in the company, valued at $2,499,989.84. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Stock Up 1.0 %

Shares of NYSE PRU opened at $114.32 on Wednesday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The company has a market cap of $40.93 billion, a P/E ratio of 15.30, a P/E/G ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a 52 week low of $104.45 and a 52 week high of $130.55. The business has a 50-day simple moving average of $113.44 and a two-hundred day simple moving average of $119.01.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data 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 net margin of 4.01% and a return on equity of 15.86%. Research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were issued a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 4.72%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio (DPR) is presently 72.29%.

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.