DRW Securities LLC Has $299,000 Holdings in Prudential Financial, Inc. (NYSE:PRU)

DRW Securities LLC trimmed its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 90.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,522 shares of the financial services provider’s stock after selling 22,647 shares during the period. DRW Securities LLC’s holdings in Prudential Financial were worth $299,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Quarry LP boosted its position in Prudential Financial by 376.3% during the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 222 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Prudential Financial during the 3rd quarter valued at $486,000. Nomura Asset Management Co. Ltd. increased its stake in Prudential Financial by 4.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 110,303 shares of the financial services provider’s stock valued at $13,358,000 after buying an additional 4,469 shares during the last quarter. Barclays PLC boosted its position in Prudential Financial by 11.0% in the third quarter. Barclays PLC now owns 1,062,776 shares of the financial services provider’s stock worth $128,700,000 after purchasing an additional 105,089 shares during the last quarter. Finally, Vestcor Inc grew its position in Prudential Financial by 15.4% during the third quarter. Vestcor Inc now owns 7,009 shares of the financial services provider’s stock valued at $849,000 after buying an additional 937 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PRU. JPMorgan Chase & Co. cut their price target on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Morgan Stanley lowered their price target on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Barclays lifted their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. UBS Group decreased their target price on shares of Prudential Financial from $130.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Finally, Piper Sandler decreased their target price on Prudential Financial from $124.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $124.92.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $98.26 on Friday. The stock has a market cap of $34.82 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 0.98 and a beta of 1.11. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55. The company has a 50 day simple moving average of $109.36 and a two-hundred day simple moving average of $117.72. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU) last posted its 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%. As a group, analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were paid a dividend of $1.35 per share. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a yield of 5.50%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is 72.29%.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of Prudential Financial stock in a transaction dated Tuesday, March 25th. The shares were acquired at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the transaction, the insider now owns 139,987 shares of the company’s stock, valued at $3,992,429.24. This trade represents a 60.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the transaction, the executive vice president now owns 27,072 shares of the company’s stock, valued at $2,869,090.56. This trade represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

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.