Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Ieq Capital LLC

Ieq Capital LLC lessened its holdings in Prudential Financial, Inc. (NYSE:PRU) by 54.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,611 shares of the financial services provider’s stock after selling 11,572 shares during the period. Ieq Capital LLC’s holdings in Prudential Financial were worth $1,139,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Glenmede Trust Co. NA increased its position in shares of Prudential Financial by 7.4% during the third quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock worth $2,176,000 after acquiring an additional 1,234 shares during the period. Avanza Fonder AB acquired a new position in Prudential Financial during the 4th quarter worth approximately $3,423,000. Gateway Investment Advisers LLC raised its holdings in shares of Prudential Financial by 56.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock valued at $2,607,000 after purchasing an additional 7,907 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Prudential Financial by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock worth $50,830,000 after purchasing an additional 15,695 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in Prudential Financial by 2.3% in the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock valued at $9,597,000 after acquiring an additional 1,765 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PRU. Barclays raised their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Wells Fargo & Company increased their price target on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Piper Sandler dropped their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Jefferies Financial Group boosted their target price on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods reduced their price target on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $125.69.

Prudential Financial Trading Up 0.9 %

NYSE:PRU opened at $110.54 on Tuesday. Prudential Financial, Inc. has a 52-week low of $104.44 and a 52-week high of $130.55. 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 stock has a fifty day simple moving average of $116.67 and a 200-day simple moving average of $119.81. The company has a market capitalization of $39.57 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 0.98 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. On average, equities research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio (DPR) is currently 72.29%.

About Prudential Financial

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.