Prudential Financial, Inc. (NYSE:PRU) Stock Position Lowered by US Bancorp DE

US Bancorp DE lessened its position in Prudential Financial, Inc. (NYSE:PRU) by 2.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 157,335 shares of the financial services provider’s stock after selling 3,682 shares during the period. US Bancorp DE’s holdings in Prudential Financial were worth $19,053,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. National Bank of Canada FI raised its stake in shares of Prudential Financial by 44.9% in the 1st quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock worth $27,327,000 after buying an additional 71,274 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of Prudential Financial during the second quarter worth $156,000. Russell Investments Group Ltd. raised its position in shares of Prudential Financial by 25.0% during the first quarter. Russell Investments Group Ltd. now owns 180,555 shares of the financial services provider’s stock worth $21,171,000 after purchasing an additional 36,159 shares during the period. PGGM Investments raised its position in shares of Prudential Financial by 98.0% during the second quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock worth $7,533,000 after purchasing an additional 31,807 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Prudential Financial by 6.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 406,295 shares of the financial services provider’s stock worth $47,699,000 after purchasing an additional 25,196 shares during the period. Institutional investors own 56.83% of the company’s stock.

Insider Activity

In other news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the purchase, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Caroline Feeney sold 1,110 shares of the 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 sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Argus raised Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Citigroup boosted their target price on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company upped their price target on Prudential Financial from $113.00 to $116.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a research report on Wednesday, August 21st. Finally, Barclays upped their price target on Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Prudential Financial presently has an average rating of “Hold” and a consensus price target of $123.77.

Prudential Financial Stock Performance

Shares of PRU stock opened at $121.28 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial, Inc. has a fifty-two week low of $89.90 and a fifty-two week high of $128.52. The stock’s 50-day moving average is $121.10 and its two-hundred day moving average is $118.25. The firm has a market cap of $43.30 billion, a P/E ratio of 10.78, a PEG ratio of 0.97 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.01. The company had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a return on equity of 15.66% and a net margin of 6.03%. During the same period in the prior year, the firm posted $3.44 EPS. Analysts predict that Prudential Financial, Inc. will post 13.3 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is 46.22%.

Prudential Financial Company 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.