Metis Global Partners LLC Lowers Position in Prudential Financial, Inc. $PRU

Metis Global Partners LLC lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 25,607 shares of the financial services provider’s stock after selling 1,234 shares during the period. Metis Global Partners LLC’s holdings in Prudential Financial were worth $2,751,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PRU. Econ Financial Services Corp bought a new position in shares of Prudential Financial during the 2nd quarter valued at approximately $1,662,000. Nordea Investment Management AB raised its stake in Prudential Financial by 49.2% during the second quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock valued at $184,192,000 after purchasing an additional 567,571 shares in the last quarter. Brookwood Investment Group LLC purchased a new position in shares of Prudential Financial in the 2nd quarter worth $289,000. Acadian Asset Management LLC increased its holdings in shares of Prudential Financial by 3.0% in the 1st quarter. Acadian Asset Management LLC now owns 109,447 shares of the financial services provider’s stock worth $12,217,000 after buying an additional 3,183 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in shares of Prudential Financial by 68.2% during the 1st quarter. HighTower Advisors LLC now owns 110,794 shares of the financial services provider’s stock valued at $12,373,000 after buying an additional 44,937 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

PRU stock opened at $106.24 on Monday. The firm has a market cap of $37.19 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 0.88 and a beta of 1.05. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a 50-day simple moving average of $103.75 and a two-hundred day simple moving average of $104.57.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. Prudential Financial had a return on equity of 16.98% and a net margin of 4.65%.The business had revenue of $8.35 billion during the quarter. On average, equities analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $5.40 dividend on an annualized basis and a yield of 5.1%. Prudential Financial’s payout ratio is currently 74.18%.

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the sale, the executive vice president owned 21,506 shares in the company, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on PRU. Wolfe Research assumed coverage on Prudential Financial in a research note on Tuesday, September 16th. They set a “peer perform” rating on the stock. Evercore ISI boosted their target price on Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a research report on Thursday, October 30th. Wells Fargo & Company lowered their price target on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 16th. Morgan Stanley increased their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Finally, Piper Sandler dropped their price target on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $120.73.

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.