Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 53.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,370 shares of the financial services provider’s stock after selling 2,725 shares during the period. Fisher Asset Management LLC’s holdings in Prudential Financial were worth $287,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Daiwa Securities Group Inc. boosted its position in Prudential Financial by 11.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 44,143 shares of the financial services provider’s stock worth $5,346,000 after acquiring an additional 4,632 shares during the period. Larson Financial Group LLC grew its position in Prudential Financial by 18.0% in the 3rd quarter. Larson Financial Group LLC now owns 715 shares of the financial services provider’s stock valued at $87,000 after buying an additional 109 shares in the last quarter. Sompo Asset Management Co. Ltd. raised its position in shares of Prudential Financial by 7.0% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 15,830 shares of the financial services provider’s stock worth $1,917,000 after buying an additional 1,040 shares in the last quarter. Swedbank AB boosted its holdings in shares of Prudential Financial by 4.2% in the third quarter. Swedbank AB now owns 311,700 shares of the financial services provider’s stock valued at $37,747,000 after acquiring an additional 12,468 shares in the last quarter. Finally, Kingsview Wealth Management LLC raised its holdings in Prudential Financial by 3.5% during the third quarter. Kingsview Wealth Management LLC now owns 7,012 shares of the financial services provider’s stock worth $849,000 after purchasing an additional 237 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

In related news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were bought at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the transaction, the insider now directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This trade represents a 6.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by corporate insiders.

Prudential Financial Stock Performance

PRU stock opened at $129.41 on Monday. The firm has a 50 day simple moving average of $124.24 and a 200 day simple moving average of $120.12. Prudential Financial, Inc. has a 52 week low of $96.45 and a 52 week high of $130.55. The stock has a market cap of $46.07 billion, a P/E ratio of 11.50, a P/E/G ratio of 0.93 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 (NYSE:PRU) last posted 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. The business had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same period in the previous year, the company posted $3.44 EPS. Research analysts anticipate that Prudential Financial, Inc. will post 13.35 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be paid a $1.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.02%. Prudential Financial’s payout ratio is 46.22%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PRU. Argus upgraded Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Piper Sandler upped their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. TD Cowen boosted their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Bank of America lifted 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, Wells Fargo & Company raised their price objective on Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $125.92.

Prudential Financial Company 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.