Headlands Technologies LLC Has $507,000 Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Headlands Technologies LLC cut its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 57.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,889 shares of the financial services provider’s stock after selling 6,532 shares during the period. Headlands Technologies LLC’s holdings in Prudential Financial were worth $507,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its position in shares of Prudential Financial by 9,281.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock worth $141,962,000 after purchasing an additional 1,354,248 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in shares of Prudential Financial in the 3rd quarter valued at $34,251,000. abrdn plc increased its stake in shares of Prudential Financial by 37.5% in the 4th quarter. abrdn plc now owns 1,107,210 shares of the financial services provider’s stock valued at $114,829,000 after acquiring an additional 302,164 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Prudential Financial by 39.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,004,087 shares of the financial services provider’s stock valued at $95,278,000 after purchasing an additional 282,667 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Prudential Financial by 80.6% during the 3rd quarter. AQR Capital Management LLC now owns 562,875 shares of the financial services provider’s stock valued at $53,411,000 after purchasing an additional 251,269 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Price Performance

NYSE PRU traded down $0.68 on Friday, reaching $110.50. 1,110,106 shares of the company’s stock traded hands, compared to its average volume of 1,226,730. Prudential Financial, Inc. has a 12 month low of $77.22 and a 12 month high of $118.69. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a 50-day simple moving average of $111.75 and a 200 day simple moving average of $103.73. The stock has a market cap of $39.67 billion, a PE ratio of 16.52, a P/E/G ratio of 0.75 and a beta of 1.37.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The business had revenue of $13.02 billion for the quarter, compared to the consensus estimate of $12.99 billion. During the same quarter in the previous year, the business earned $2.42 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. As a group, research analysts predict that Prudential Financial, Inc. will post 13.38 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date was Friday, February 16th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.25. Prudential Financial’s dividend payout ratio is 77.73%.

Analysts Set New Price Targets

PRU has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $118.00 price objective (down from $119.00) on shares of Prudential Financial in a report on Wednesday, January 3rd. Raymond James downgraded shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, February 9th. UBS Group boosted their price target on shares of Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Finally, Piper Sandler boosted their price target on shares of Prudential Financial from $114.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Two research analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $111.42.

Insider Activity

In related news, SVP Timothy L. Schmidt sold 7,912 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of the sale, the senior vice president now owns 14,754 shares of the company’s stock, valued at $1,595,350.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Prudential Financial news, EVP Andrew F. Sullivan sold 7,685 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total value of $857,415.45. Following the completion of the transaction, the executive vice president now owns 13,691 shares in the company, valued at $1,527,504.87. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Timothy L. Schmidt sold 7,912 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of the transaction, the senior vice president now owns 14,754 shares of the company’s stock, valued at approximately $1,595,350.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,255 shares of company stock valued at $3,215,664. 0.31% of the stock is currently owned by company insiders.

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.