Robeco Institutional Asset Management B.V. Cuts Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Robeco Institutional Asset Management B.V. lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 22.5% in the 3rd quarter, Holdings Channel reports. The firm owned 202,360 shares of the financial services provider’s stock after selling 58,587 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Prudential Financial were worth $24,506,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PRU. Legal & General Group Plc boosted its stake in Prudential Financial by 9.4% during the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock valued at $415,134,000 after buying an additional 305,143 shares during the last quarter. abrdn plc grew its holdings in shares of Prudential Financial by 4.0% in the third quarter. abrdn plc now owns 1,309,155 shares of the financial services provider’s stock valued at $158,120,000 after purchasing an additional 50,026 shares in the last quarter. International Assets Investment Management LLC raised its stake in Prudential Financial by 4,130.8% during the third quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock valued at $157,219,000 after purchasing an additional 1,267,571 shares in the last quarter. AustralianSuper Pty Ltd lifted its position in Prudential Financial by 2.3% during the third quarter. AustralianSuper Pty Ltd now owns 1,265,996 shares of the financial services provider’s stock valued at $153,312,000 after purchasing an additional 28,459 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Prudential Financial by 8.8% in the 2nd quarter. Federated Hermes Inc. now owns 1,025,527 shares of the financial services provider’s stock worth $120,181,000 after buying an additional 82,620 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In related news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the sale, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Prudential Financial Stock Performance

Prudential Financial stock opened at $120.18 on Wednesday. Prudential Financial, Inc. has a fifty-two week low of $89.90 and a fifty-two week high of $128.52. The company has a market capitalization of $42.78 billion, a PE ratio of 10.68, a P/E/G ratio of 0.86 and a beta of 1.29. The company has a 50 day moving average price of $121.20 and a 200-day moving average price of $118.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The business had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the prior year, the company earned $3.44 EPS. As a group, equities analysts forecast that Prudential Financial, Inc. will post 13.32 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.33%. Prudential Financial’s dividend payout ratio (DPR) is 46.22%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Piper Sandler increased their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Barclays boosted their target price on Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. UBS Group raised their price target on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Prudential Financial presently has an average rating of “Hold” and a consensus price target of $123.85.

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.