Bessemer Group Inc. Reduces Stock Holdings in Prudential Financial, Inc. $PRU

Bessemer Group Inc. reduced its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 809,650 shares of the financial services provider’s stock after selling 40,872 shares during the quarter. Bessemer Group Inc.’s holdings in Prudential Financial were worth $91,392,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of PRU. Salomon & Ludwin LLC grew its position in shares of Prudential Financial by 98.3% during the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after buying an additional 114 shares in the last quarter. Lodestone Wealth Management LLC acquired a new stake in shares of Prudential Financial during the fourth quarter worth approximately $28,000. Coston McIsaac & Partners grew its position in shares of Prudential Financial by 93.4% during the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after buying an additional 128 shares in the last quarter. Wealth Watch Advisors INC acquired a new stake in shares of Prudential Financial during the third quarter worth approximately $30,000. Finally, Dunhill Financial LLC grew its position in shares of Prudential Financial by 982.8% during the fourth quarter. Dunhill Financial LLC now owns 314 shares of the financial services provider’s stock worth $35,000 after buying an additional 285 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In related news, Director Thomas D. Stoddard acquired 250 shares of Prudential Financial stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average price of $102.97 per share, for a total transaction of $25,742.50. Following the transaction, the director directly owned 250 shares of the company’s stock, valued at $25,742.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.05% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PRU shares. BMO Capital Markets decreased their price target on shares of Prudential Financial from $91.00 to $87.00 and set an “underperform” rating for the company in a research report on Thursday, April 23rd. Weiss Ratings downgraded shares of Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Bank of America decreased their price target on shares of Prudential Financial from $112.00 to $104.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. Piper Sandler lifted their target price on Prudential Financial from $99.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. decreased their target price on Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a research report on Wednesday, February 4th. Nine analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $101.50.

Prudential Financial Price Performance

Shares of PRU opened at $101.88 on Friday. The firm has a market cap of $35.35 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 1.87 and a beta of 0.86. The stock has a 50 day moving average of $97.13 and a 200-day moving average of $104.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. Prudential Financial, Inc. has a 52 week low of $91.89 and a 52 week high of $119.76.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, topping the consensus estimate of $3.09 by $0.52. The company had revenue of $15.23 billion during the quarter, compared to analyst estimates of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same quarter last year, the firm earned $3.29 EPS. As a group, analysts forecast that Prudential Financial, Inc. will post 13.71 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, May 26th will be given a dividend of $1.40 per share. The ex-dividend date is Tuesday, May 26th. This represents a $5.60 dividend on an annualized basis and a yield of 5.5%. Prudential Financial’s payout ratio is currently 57.61%.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.