International Private Wealth Advisors LLC Sells 167 Shares of Prudential Financial, Inc. (NYSE:PRU)

International Private Wealth Advisors LLC cut its holdings in Prudential Financial, Inc. (NYSE:PRU) by 5.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,977 shares of the financial services provider’s stock after selling 167 shares during the quarter. International Private Wealth Advisors LLC’s holdings in Prudential Financial were worth $360,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Sei Investments Co. lifted its holdings in shares of Prudential Financial by 12.9% in the 1st quarter. Sei Investments Co. now owns 57,853 shares of the financial services provider’s stock valued at $6,791,000 after acquiring an additional 6,609 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Prudential Financial by 5.2% in the 1st quarter. QRG Capital Management Inc. now owns 14,876 shares of the financial services provider’s stock worth $1,746,000 after acquiring an additional 737 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Prudential Financial by 25.0% during the 1st quarter. Russell Investments Group Ltd. now owns 180,555 shares of the financial services provider’s stock valued at $21,171,000 after purchasing an additional 36,159 shares during the last quarter. Bleakley Financial Group LLC raised its position in Prudential Financial by 3.2% in the 1st quarter. Bleakley Financial Group LLC now owns 8,649 shares of the financial services provider’s stock worth $1,015,000 after purchasing an additional 272 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its stake in Prudential Financial by 6.6% in 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 last quarter. Institutional investors own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PRU. Citigroup upped their target price on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $121.00 target price on shares of Prudential Financial in a report on Wednesday, August 21st. UBS Group upped their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Argus raised shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and upped their target price for the stock from $117.00 to $140.00 in a report on Thursday. Eleven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Prudential Financial presently has a consensus rating of “Hold” and a consensus target price of $125.69.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were acquired at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the acquisition, the insider now owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, the insider now directly owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction on 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 directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. This trade represents 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 company insiders.

Prudential Financial Stock Up 0.8 %

Shares of Prudential Financial stock traded up $1.04 during trading on Thursday, reaching $126.30. The company’s stock had a trading volume of 208,766 shares, compared to its average volume of 1,491,016. Prudential Financial, Inc. has a 1-year low of $93.32 and a 1-year high of $129.13. The company has a 50-day simple moving average of $121.76 and a two-hundred day simple moving average of $119.06. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The company has a market cap of $44.96 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 0.89 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last issued its quarterly 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 business had revenue of $19.48 billion during 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 last year, the company earned $3.44 earnings per share. As a group, equities analysts forecast that Prudential Financial, Inc. will post 13.33 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

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.