Lincoln National Corp Raises Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Lincoln National Corp boosted its holdings in Prudential Financial, Inc. (NYSE:PRUGet Rating) by 5.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 10,090 shares of the financial services provider’s stock after buying an additional 520 shares during the period. Lincoln National Corp’s holdings in Prudential Financial were worth $866,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Total Clarity Wealth Management Inc. purchased a new position in shares of Prudential Financial during the second quarter valued at about $25,000. Wagner Wealth Management LLC purchased a new position in shares of Prudential Financial during the second quarter valued at about $26,000. Pacific Center for Financial Services purchased a new position in shares of Prudential Financial during the second quarter valued at about $31,000. Fairfield Bush & CO. purchased a new position in shares of Prudential Financial during the first quarter valued at about $36,000. Finally, Janiczek Wealth Management LLC lifted its holdings in shares of Prudential Financial by 89.6% in the 2nd quarter. Janiczek Wealth Management LLC now owns 366 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 56.33% of the company’s stock.

Prudential Financial Stock Performance

Prudential Financial stock opened at $100.88 on Wednesday. The company has a 50 day moving average price of $102.01 and a 200-day moving average price of $99.00. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.07 and a current ratio of 0.07. Prudential Financial, Inc. has a fifty-two week low of $85.46 and a fifty-two week high of $124.22. The company has a market capitalization of $37.53 billion, a PE ratio of 140.11 and a beta of 1.42.

Prudential Financial (NYSE:PRUGet Rating) last posted its quarterly earnings results on Tuesday, November 1st. The financial services provider reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.21 by ($0.08). Prudential Financial had a net margin of 0.52% and a return on equity of 10.20%. The company had revenue of $21.61 billion for the quarter, compared to the consensus estimate of $12.76 billion. As a group, equities analysts forecast that Prudential Financial, Inc. will post 10.08 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Tuesday, November 22nd were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend was Monday, November 21st. Prudential Financial’s dividend payout ratio is presently 666.67%.

Insider Activity

In related news, SVP Timothy L. Schmidt sold 2,000 shares of Prudential Financial stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $103.55, for a total transaction of $207,100.00. Following the transaction, the senior vice president now directly owns 16,198 shares of the company’s stock, valued at $1,677,302.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Ann M. Kappler sold 3,609 shares of Prudential Financial stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $108.62, for a total transaction of $392,009.58. Following the transaction, the executive vice president now directly owns 9,779 shares of the company’s stock, valued at $1,062,194.98. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Timothy L. Schmidt sold 2,000 shares of Prudential Financial stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $103.55, for a total transaction of $207,100.00. Following the transaction, the senior vice president now directly owns 16,198 shares in the company, valued at $1,677,302.90. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on PRU shares. The Goldman Sachs Group downgraded shares of Prudential Financial from a “neutral” rating to a “sell” rating and lowered their price target for the company from $98.00 to $96.00 in a report on Monday, January 9th. Credit Suisse Group lowered their price target on shares of Prudential Financial to $102.00 in a report on Thursday, September 29th. Morgan Stanley increased their price target on shares of Prudential Financial from $112.00 to $114.00 and gave the company an “equal weight” rating in a report on Tuesday, January 10th. Citigroup raised their price objective on shares of Prudential Financial from $98.00 to $105.00 in a research note on Wednesday, November 16th. Finally, Raymond James downgraded shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday, November 23rd. Four investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to MarketBeat, Prudential Financial has a consensus rating of “Hold” and an average target price of $103.08.

Prudential Financial Profile

(Get Rating)

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 eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.

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

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