Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Bell Bank

Bell Bank decreased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 14.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,122 shares of the financial services provider's stock after selling 10,706 shares during the quarter. Prudential Financial comprises about 0.9% of Bell Bank's investment portfolio, making the stock its 27th biggest position. Bell Bank's holdings in Prudential Financial were worth $7,886,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its holdings in shares of Prudential Financial by 4,130.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider's stock valued at $157,219,000 after purchasing an additional 1,267,571 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Prudential Financial by 97.4% in the second quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider's stock valued at $84,874,000 after acquiring an additional 357,300 shares during the last quarter. Swedbank AB acquired a new stake in Prudential Financial during the first quarter worth about $35,855,000. Legal & General Group Plc raised its holdings in shares of Prudential Financial by 9.4% in the 2nd quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider's stock worth $415,134,000 after purchasing an additional 305,143 shares during the period. Finally, Capital Advisors Inc. OK purchased a new stake in shares of Prudential Financial during the 3rd quarter worth about $30,226,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of Prudential Financial stock in a transaction on Tuesday, October 8th. The stock was purchased at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the purchase, the insider now directly owns 4,208,549 shares of the company's stock, valued at approximately $116,071,781.42. This trade represents a 6.61 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Caroline Feeney sold 1,110 shares of the firm's stock in a transaction that occurred on 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 $1,220,694.75. The trade was a 9.84 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company's stock.

Prudential Financial Stock Up 0.4 %

Shares of PRU traded up $0.49 during midday trading on Thursday, hitting $125.75. The company had a trading volume of 1,114,971 shares, compared to its average volume of 1,495,593. The stock has a market cap of $44.77 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 0.89 and a beta of 1.29. Prudential Financial, Inc. has a 52 week low of $93.32 and a 52 week high of $129.13. The company's 50 day moving average price is $121.76 and its 200 day moving average price is $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.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts' consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion for 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 business posted $3.44 EPS. On average, equities research analysts predict that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be given a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.14%. Prudential Financial's payout ratio is currently 46.22%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PRU. Barclays lifted their price target on shares of Prudential Financial from $118.00 to $119.00 and gave the company an "equal weight" rating in a research report on Friday, November 1st. Evercore ISI raised shares of Prudential Financial from an "underperform" rating to an "inline" rating and upped their price target for the stock from $117.00 to $140.00 in a research report on Thursday. TD Cowen initiated coverage on Prudential Financial in a research report on Wednesday, October 9th. They issued a "hold" rating and a $130.00 price objective on the stock. Wells Fargo & Company increased their target price on Prudential Financial from $116.00 to $117.00 and gave the company an "equal weight" rating in a research note on Tuesday, November 5th. Finally, 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. Eleven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price 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.