Prudential Financial, Inc. $PRU Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. decreased its position in Prudential Financial, Inc. (NYSE:PRU) by 44.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,517 shares of the financial services provider’s stock after selling 7,477 shares during the quarter. Securian Asset Management Inc.’s holdings in Prudential Financial were worth $1,074,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in shares of Prudential Financial by 2.4% in the third quarter. Legal & General Group Plc now owns 2,701,116 shares of the financial services provider’s stock valued at $280,214,000 after buying an additional 62,366 shares during the last quarter. Nordea Investment Management AB boosted its position in Prudential Financial by 16.6% during the fourth quarter. Nordea Investment Management AB now owns 2,044,374 shares of the financial services provider’s stock worth $231,321,000 after acquiring an additional 291,422 shares during the last quarter. First Trust Advisors LP grew its stake in Prudential Financial by 1.5% in the 3rd quarter. First Trust Advisors LP now owns 1,172,443 shares of the financial services provider’s stock worth $121,629,000 after acquiring an additional 17,030 shares during the period. Federated Hermes Inc. raised its holdings in Prudential Financial by 0.7% in the 3rd quarter. Federated Hermes Inc. now owns 1,095,031 shares of the financial services provider’s stock valued at $113,599,000 after acquiring an additional 7,526 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Prudential Financial by 0.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 891,244 shares of the financial services provider’s stock worth $92,458,000 after purchasing an additional 2,451 shares during the period. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

More Prudential Financial News

Here are the key news stories impacting Prudential Financial this week:

• Positive Sentiment: Prudential Financial declared a quarterly dividend of $1.40 per share, signaling ongoing cash generation and supporting the stock’s income appeal. Prudential Financial Declares Quarterly Dividend on Common Stock
• Positive Sentiment: Piper Sandler raised its price target on PRU to $105 from $99, suggesting modest upside and reinforcing a neutral-to-positive view of the shares. Prudential Financial (NYSE:PRU) Price Target Raised to $105.00 at Piper Sandler
• Neutral Sentiment: Wells Fargo also increased its target to $100 from $93, but kept an underweight rating, limiting the bullish takeaway. Wells Fargo price target update
• Neutral Sentiment: Prudential’s annual Benefits & Beyond study highlighted rising medical costs and financial stress among employees, which is more of an industry/consumer trend update than a direct earnings driver. Employees Face Difficult Trade-offs Amid Rising Costs

Prudential Financial Price Performance

PRU stock opened at $102.59 on Wednesday. The company has a market cap of $35.60 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 1.83 and a beta of 0.86. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average price of $96.93 and a two-hundred day moving average price of $104.56. Prudential Financial, Inc. has a 12-month low of $91.89 and a 12-month high of $119.76.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.52. The business had revenue of $15.23 billion for the quarter, compared to analyst estimates of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same period in the previous year, the company posted $3.29 EPS. As a group, research analysts predict that Prudential Financial, Inc. will post 13.72 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th will be given a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $5.60 annualized dividend and a dividend yield of 5.5%. Prudential Financial’s dividend payout ratio is presently 57.61%.

Insider Activity

In other Prudential Financial news, Director Thomas D. Stoddard bought 250 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were acquired at an average price of $102.97 per share, with a total value of $25,742.50. Following the purchase, the director owned 250 shares in the company, valued at approximately $25,742.50. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.05% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PRU has been the subject of a number of recent analyst reports. Mizuho lifted their price objective on Prudential Financial from $96.00 to $101.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Zacks Research lowered Prudential Financial from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Weiss Ratings cut Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. BMO Capital Markets cut their price objective on shares of Prudential Financial from $91.00 to $87.00 and set an “underperform” rating on the stock in a report on Thursday, April 23rd. Finally, Wells Fargo & Company raised their target price on shares of Prudential Financial from $93.00 to $100.00 and gave the stock an “underweight” rating in a research report on Tuesday. Nine equities research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $101.00.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.