BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Holdings in Prudential Financial, Inc. (NYSE:PRU)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 12.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,894 shares of the financial services provider's stock after selling 8,863 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Prudential Financial were worth $7,253,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in Prudential Financial by 4,130.8% during the third quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider's stock worth $157,219,000 after acquiring an additional 1,267,571 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Prudential Financial by 97.4% during the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider's stock worth $84,874,000 after buying an additional 357,300 shares during the last quarter. FMR LLC boosted its holdings in shares of Prudential Financial by 31.3% during the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider's stock worth $174,903,000 after acquiring an additional 344,254 shares during the period. Legal & General Group Plc grew its holdings in 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 valued at $415,134,000 after buying an additional 305,143 shares in the last quarter. Finally, Capital Advisors Inc. OK acquired a new position in shares of Prudential Financial in the third quarter valued at about $30,226,000. Institutional investors own 56.83% of the company's stock.

Prudential Financial Stock Performance

Shares of PRU traded down $0.99 on Monday, reaching $128.42. 1,482,727 shares of the company's stock traded hands, compared to its average volume of 1,495,997. The stock's 50 day simple moving average is $124.24 and its two-hundred day simple moving average is $120.12. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 52-week low of $96.87 and a 52-week high of $130.55. The stock has a market cap of $45.72 billion, a PE ratio of 11.42, a PEG ratio of 0.93 and a beta of 1.29.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion for the quarter, compared to analysts' expectations of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same period in the previous year, the company earned $3.44 earnings per share. On average, analysts forecast that Prudential Financial, Inc. will post 13.35 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders 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 4.05%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial's dividend payout ratio (DPR) is presently 46.22%.

Insider Activity at Prudential Financial

In other Prudential Financial news, 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 directly owns 10,175 shares in the company, valued at $1,220,694.75. This represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the transaction, the insider now owns 4,780,293 shares of the company's stock, valued at $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of analyst reports. Argus upgraded shares of Prudential Financial to a "strong-buy" rating in a research report on Thursday, August 8th. TD Cowen upped their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a "hold" rating in a report on Wednesday, November 27th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $121.00 price objective on shares of Prudential Financial in a research note on Wednesday, August 21st. Piper Sandler raised their price objective on Prudential Financial from $121.00 to $127.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley decreased their price target on Prudential Financial from $123.00 to $122.00 and set an "equal weight" rating for the company in a report on Monday, August 19th. Eleven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $125.92.

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.