Integrated Advisors Network LLC has sold its interest in Prudential Financial, Inc. (NYSE:PRU – Free Report) increased 600.2% in the fourth quarter, the company said in its most recent notice to the SEC. The fund owned 40,189 shares of the financial services provider, after purchasing an additional 34,449 shares during the quarter. Integrated Advisors Network LLC’s holdings in Prudential Financial were worth $4,168,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Morgan Stanley increased its stake in shares of Prudential Financial by 0.9% in the third quarter. Morgan Stanley now owns 6,317,338 shares of the financial services provider’s stock worth $599,452,000 after purchasing an additional 57,531 shares in the last quarter. Northern Trust Corp increased its stake in shares of Prudential Financial by 4.8% in the third quarter. Northern Trust Corp now owns 4,353,086 shares of the financial services provider’s stock worth $413,064,000 after purchasing an additional 197,422 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Prudential Financial by 10.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock worth $414,926,000 after purchasing an additional 388,363 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Prudential Financial by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,346,612 shares of the financial services company’s stock worth $243,367,000 after purchasing an additional 72,696 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings 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 in the last quarter. 56.83% of the shares are currently owned by hedge funds and other institutional investors.

Insider activity at Prudential Financial

In related news, EVP Robert Falzon sold 130,092 shares of the company’s stock in a transaction on Monday, May 13. The stock sold at an average price of $118.57, for a total value of $15,425,008.44. Following the sale, the executive vice president now owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Timothy L. Schmidt sold 5,189 shares of the company’s stock in a transaction on Wednesday, May 8. The stock sold at an average price of $116.58, for a total transaction of $604,933.62. Following the completion of the transaction, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, EVP Robert Falzon sold 130,092 shares of the company’s stock in a transaction on Monday, May 13. The stock sold at an average price of $118.57, for a total value of $15,425,008.44. Following the transaction, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The explanation of this sale can be found here. Company insiders own 0.31% of the company’s shares.

Changes in analyst ratings

Several brokers have recently given their opinions on PRU. Morgan Stanley raised their price target on Prudential Financial from $109.00 to $117.00 and gave the company an “equalweight” rating in a research report on Monday, April 15. Jefferies Financial Group upgraded Prudential Financial from a “hold” rating to a “buy” rating and lifted their price objective for the company from $121.00 to $143.00 in a report on Wednesday, May 22. Piper Sandler lowered their price objective on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the stock in a report on Monday, May 6. Evercore ISI raised their price target on Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research note on Thursday, April 25. Finally, Keefe, Bruyette & Woods raised their price target on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and a consensus target price of $115.25.

View our latest report on prudential financial supervision

Prudential financial trading falls by 0.8%

NYSE:PRU traded down $0.86 on Friday, reaching $113.11. The company’s stock had a trading volume of 1,065,223 shares, compared to its average volume of 1,290,051. Prudential Financial, Inc. has a 12-month low of $83.34 and a 12-month high of $121.39. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. The company has a market cap of $40.61 billion, a price-to-earnings ratio of 19.23, a price-to-earnings growth ratio of 0.85 and a beta of 1.35. The stock has a 50-day moving average of $115.09 and a 200-day moving average of $109.56.

Prudential Financial (NYSE:PRU – Get Free Report) posted its latest earnings results on Tuesday, April 30. The financial services provider reported earnings per share of $3.12 for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The company had revenue of $15.01 billion during the quarter, compared to analyst expectations of $14.50 billion. During the same quarter of the previous year, the company earned earnings per share of $2.66. Prudential Financial’s revenue for the quarter increased 69.9% compared to the same quarter last year. On average, equity analysts expect Prudential Financial, Inc. will record a profit per share of 13.41 for the current financial year.

Announcement of prudential financial dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13. Well-known investors on Tuesday, May 21st received a dividend of $1.30. The ex-dividend date was Monday, May 20. This represents a dividend of $5.20 annually and a dividend yield of 4.60%. Prudential Financial’s dividend payout ratio currently stands at 88.44%.

Prudential financial profile

(Free report)

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 the segments PGIM, Pension Strategies, Group Insurance, Individual Life and International Business.

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