Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. lowered its holdings in Prudential Financial, Inc. (NYSE:PRU) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 318,808 shares of the financial services provider’s stock after selling 1,130 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Prudential Financial were worth $38,607,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PRU. Lynx Investment Advisory acquired a new position in shares of Prudential Financial in the 2nd quarter valued at about $29,000. Ashton Thomas Securities LLC purchased a new stake in Prudential Financial in the 3rd quarter worth approximately $31,000. Bank & Trust Co acquired a new stake in shares of Prudential Financial during the 2nd quarter worth approximately $37,000. Hobbs Group Advisors LLC purchased a new position in shares of Prudential Financial during the 2nd quarter valued at approximately $38,000. Finally, Tompkins Financial Corp lifted its stake in shares of Prudential Financial by 61.7% in the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 140 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Morgan Stanley cut their price objective on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Argus upgraded Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a research report on Wednesday, August 21st. Piper Sandler boosted their price objective on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, UBS Group increased their target price on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Eleven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Prudential Financial has an average rating of “Hold” and an average target price of $125.92.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $129.42 on Friday. The firm has a 50-day simple moving average of $124.24 and a 200-day simple moving average of $120.11. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $46.07 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 0.93 and a beta of 1.29. Prudential Financial, Inc. has a 52 week low of $96.45 and a 52 week high of $130.55.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter in the prior year, the firm earned $3.44 EPS. On average, equities analysts predict that Prudential Financial, Inc. will post 13.35 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is currently 46.22%.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were purchased at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the acquisition, the insider now owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. The trade was a 6.61 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. This trade represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

About Prudential Financial

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.