Douglas Lane & Associates LLC Lowers Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Douglas Lane & Associates LLC cut its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 30.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 378,589 shares of the financial services provider’s stock after selling 167,537 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.11% of Prudential Financial worth $44,874,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in shares of Prudential Financial by 18.5% during the 2nd quarter. Victory Capital Management Inc. now owns 401,045 shares of the financial services provider’s stock worth $46,998,000 after acquiring an additional 62,487 shares in the last quarter. Savant Capital LLC boosted its stake in shares of Prudential Financial by 15.2% during the 2nd quarter. Savant Capital LLC now owns 13,810 shares of the financial services provider’s stock worth $1,618,000 after purchasing an additional 1,824 shares during the period. Strategic Financial Concepts LLC lifted its stake in shares of Prudential Financial by 1,312.4% during the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 25,027 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Prudential Financial by 107.4% during the second quarter. Acadian Asset Management LLC now owns 154,539 shares of the financial services provider’s stock valued at $18,105,000 after purchasing an additional 80,010 shares during the period. Finally, Caprock Group LLC boosted its position in Prudential Financial by 63.0% in the 2nd quarter. Caprock Group LLC now owns 9,200 shares of the financial services provider’s stock valued at $1,078,000 after buying an additional 3,556 shares during the period. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the business’s stock in a transaction on Monday, November 25th. The shares were bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the transaction, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PRU shares. Jefferies Financial Group lifted their target price on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. TD Cowen boosted their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Barclays raised their price objective on Prudential Financial from $119.00 to $129.00 and gave the company an “equal weight” rating in a research report on Monday. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Bank of America increased their price target on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Eleven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and a consensus price target of $127.17.

Prudential Financial Trading Down 0.7 %

Prudential Financial stock traded down $0.80 during trading on Wednesday, reaching $118.38. 496,893 shares of the company were exchanged, compared to its average volume of 1,012,735. The company has a market capitalization of $42.14 billion, a P/E ratio of 10.52, a PEG ratio of 0.87 and a beta of 1.31. Prudential Financial, Inc. has a 52-week low of $100.60 and a 52-week high of $130.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The stock’s 50 day simple moving average is $122.90 and its two-hundred day simple moving average is $120.70.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.01. The firm had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the prior year, the company earned $3.44 EPS. On average, equities research analysts expect that Prudential Financial, Inc. will post 13.35 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were issued a $1.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.39%. Prudential Financial’s payout ratio is 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.