Prudential Financial, Inc. (NYSE:PRU) Shares Sold by ING Groep NV

ING Groep NV decreased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 60.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,439 shares of the financial services provider’s stock after selling 26,411 shares during the quarter. ING Groep NV’s holdings in Prudential Financial were worth $2,112,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Creekmur Asset Management LLC lifted its position in Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 108 shares in the last quarter. Lynx Investment Advisory bought a new position in shares of Prudential Financial during the second quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new stake in Prudential Financial in the third quarter worth $31,000. Strategic Financial Concepts LLC lifted its position in Prudential Financial by 1,312.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 25,027 shares during the last quarter. Finally, Crewe Advisors LLC bought a new position in Prudential Financial in the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of PRU stock opened at $127.41 on Friday. The stock has a market cap of $45.36 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The stock has a 50-day moving average of $122.20 and a 200-day moving average of $119.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. Prudential Financial, Inc. has a one year low of $93.32 and a one year high of $129.13.

Prudential Financial (NYSE:PRU) last posted 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. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The company had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period last year, the business posted $3.44 earnings per share. As a group, sell-side analysts expect that Prudential Financial, Inc. will post 13.33 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.08%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s payout ratio is 46.22%.

Insider Activity

In other news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. This trade represents a 16.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Barclays raised their price objective on shares of Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Bank of America raised their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. UBS Group raised their target price on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Morgan Stanley lowered their price objective on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Finally, Citigroup raised their price target on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Eleven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $125.69.

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.