Royal London Asset Management Ltd. Sells 3,439 Shares of Prudential Financial, Inc. (NYSE:PRU)

Royal London Asset Management Ltd. cut its position in Prudential Financial, Inc. (NYSE:PRU) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 164,313 shares of the financial services provider’s stock after selling 3,439 shares during the period. Royal London Asset Management Ltd.’s holdings in Prudential Financial were worth $19,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC raised its holdings in Prudential Financial by 8.2% in the 3rd quarter. Empowered Funds LLC now owns 11,404 shares of the financial services provider’s stock valued at $1,381,000 after acquiring an additional 861 shares in the last quarter. Caprock Group LLC raised its holdings in Prudential Financial by 5.2% in the 3rd quarter. Caprock Group LLC now owns 9,679 shares of the financial services provider’s stock valued at $1,172,000 after acquiring an additional 479 shares in the last quarter. Prospera Financial Services Inc raised its holdings in Prudential Financial by 3.9% in the 3rd quarter. Prospera Financial Services Inc now owns 8,466 shares of the financial services provider’s stock valued at $1,026,000 after acquiring an additional 318 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Prudential Financial by 1.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 116,069 shares of the financial services provider’s stock valued at $14,056,000 after acquiring an additional 1,286 shares in the last quarter. Finally, Commerce Bank raised its holdings in Prudential Financial by 7.1% in the 3rd quarter. Commerce Bank now owns 16,770 shares of the financial services provider’s stock valued at $2,031,000 after acquiring an additional 1,114 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the transaction, the insider now directly owns 87,047 shares in the company, valued at approximately $2,499,989.84. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the sale, the executive vice president now owns 27,072 shares in the company, valued at approximately $2,869,090.56. The trade was a 18.14 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU opened at $110.35 on Friday. Prudential Financial, Inc. has a 12-month low of $104.45 and a 12-month high of $130.55. The business has a 50-day simple moving average of $113.57 and a two-hundred day simple moving average of $119.05. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock has a market cap of $39.51 billion, a PE ratio of 14.77, a PEG ratio of 0.98 and a beta of 1.28.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date was Tuesday, February 18th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is 72.29%.

Wall Street Analysts Forecast Growth

PRU has been the subject of several analyst reports. BMO Capital Markets assumed coverage on Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective for the company. TD Cowen boosted their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Wells Fargo & Company boosted their price target on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Barclays boosted their price target on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods lowered their price target on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $126.15.

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.