Lincoln National Corp Has $925,000 Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Lincoln National Corp lowered its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,916 shares of the financial services provider’s stock after selling 184 shares during the quarter. Lincoln National Corp’s holdings in Prudential Financial were worth $925,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Choreo LLC raised its position in shares of Prudential Financial by 163.5% during the fourth quarter. Choreo LLC now owns 6,940 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 4,306 shares during the period. FMR LLC raised its holdings in Prudential Financial by 2.9% during the 3rd quarter. FMR LLC now owns 1,315,215 shares of the financial services provider’s stock worth $124,801,000 after buying an additional 36,599 shares during the period. Arvest Investments Inc. acquired a new position in shares of Prudential Financial in the fourth quarter valued at approximately $2,112,000. Tyche Wealth Partners LLC bought a new stake in shares of Prudential Financial during the fourth quarter worth $815,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Prudential Financial by 14.5% during the third quarter. Victory Capital Management Inc. now owns 268,728 shares of the financial services provider’s stock worth $25,500,000 after acquiring an additional 34,054 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PRU. Evercore ISI lifted their price target on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research note on Thursday, April 25th. Morgan Stanley boosted their target price on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. TheStreet raised shares of Prudential Financial from a “c+” rating to an “a-” rating in a research note on Tuesday, February 6th. Keefe, Bruyette & Woods increased their target price on shares of Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Finally, Raymond James lowered shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $111.08.

Prudential Financial Stock Up 1.1 %

PRU stock opened at $117.97 on Friday. The business’s 50 day simple moving average is $112.65 and its 200 day simple moving average is $104.87. Prudential Financial, Inc. has a 1-year low of $77.87 and a 1-year high of $118.69. The firm has a market capitalization of $42.35 billion, a PE ratio of 20.06, a PEG ratio of 0.83 and a beta of 1.35. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). The company had revenue of $15.01 billion for the quarter, compared to analyst estimates of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The business’s quarterly revenue was up 69.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.66 EPS. As a group, research analysts anticipate that Prudential Financial, Inc. will post 13.36 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 21st will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date is Monday, May 20th. Prudential Financial’s dividend payout ratio is currently 88.44%.

Insider Buying and Selling at Prudential Financial

In other news, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the sale, the executive vice president now directly owns 24,381 shares of the company’s stock, valued at approximately $2,642,656.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Ann M. Kappler sold 7,222 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total transaction of $782,792.58. Following the completion of the sale, the executive vice president now owns 24,381 shares of the company’s stock, valued at approximately $2,642,656.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Andrew F. Sullivan sold 7,685 shares of Prudential Financial stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total transaction of $857,415.45. Following the completion of the transaction, the executive vice president now directly owns 13,691 shares in the company, valued at $1,527,504.87. The disclosure for this sale can be found here. Insiders sold 34,444 shares of company stock valued at $3,820,597 in the last three months. Corporate insiders own 0.34% of the company’s stock.

Prudential Financial Company 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.