Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Allen Mooney & Barnes Investment Advisors LLC

Allen Mooney & Barnes Investment Advisors LLC lowered its position in Prudential Financial, Inc. (NYSE:PRUFree Report) by 1.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 96,524 shares of the financial services provider’s stock after selling 1,093 shares during the quarter. Prudential Financial accounts for about 1.9% of Allen Mooney & Barnes Investment Advisors LLC’s investment portfolio, making the stock its 20th biggest position. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Prudential Financial were worth $11,441,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Glenmede Trust Co. NA raised its position in shares of Prudential Financial by 7.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock worth $2,176,000 after buying an additional 1,234 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Prudential Financial by 3.9% during the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock valued at $50,830,000 after acquiring an additional 15,695 shares during the period. Janus Henderson Group PLC raised its holdings in Prudential Financial by 2.3% during the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock worth $9,597,000 after purchasing an additional 1,765 shares in the last quarter. First Horizon Advisors Inc. lifted its position in Prudential Financial by 4.3% in the third quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider’s stock worth $19,701,000 after purchasing an additional 6,641 shares during the period. Finally, HighTower Advisors LLC boosted its stake in Prudential Financial by 18.7% during the 3rd quarter. HighTower Advisors LLC now owns 69,542 shares of the financial services provider’s stock valued at $8,395,000 after purchasing an additional 10,964 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PRU has been the subject of several research analyst reports. Piper Sandler upped their price objective on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Bank of America raised their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Jefferies Financial Group boosted their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Wells Fargo & Company reduced their target price on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and upped their price target for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Eleven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and a consensus price target of $127.00.

Check Out Our Latest Report on Prudential Financial

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the company’s stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the transaction, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.34% of the company’s stock.

Prudential Financial Trading Up 1.2 %

NYSE PRU opened at $117.66 on Wednesday. The firm’s 50 day moving average price is $122.38 and its two-hundred day moving average price is $120.67. The stock has a market cap of $41.89 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 0.87 and a beta of 1.31. Prudential Financial, Inc. has a twelve month low of $100.60 and a twelve month high of $130.55. 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 (NYSE:PRUGet Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The firm had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period in the previous year, the firm earned $3.44 earnings per share. Equities analysts anticipate that Prudential Financial, Inc. will post 13.35 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s payout ratio is presently 46.22%.

Prudential Financial Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial, Inc. (NYSE:PRUFree Report).

Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

Receive News & Ratings for Prudential Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial and related companies with MarketBeat.com's FREE daily email newsletter.