iA Global Asset Management Inc. Has $211,000 Position in Prudential Financial, Inc. (NYSE:PRU)

iA Global Asset Management Inc. lessened its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 78.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,739 shares of the financial services provider's stock after selling 6,249 shares during the period. iA Global Asset Management Inc.'s holdings in Prudential Financial were worth $211,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PRU. Sequoia Financial Advisors LLC grew its stake in Prudential Financial by 1.4% during the second quarter. Sequoia Financial Advisors LLC now owns 7,554 shares of the financial services provider's stock worth $885,000 after buying an additional 105 shares during the last quarter. Wedmont Private Capital grew its stake in Prudential Financial by 17.4% during the second quarter. Wedmont Private Capital now owns 3,246 shares of the financial services provider's stock worth $400,000 after buying an additional 481 shares during the last quarter. ORG Partners LLC bought a new stake in Prudential Financial during the second quarter worth about $156,000. PGGM Investments grew its stake 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 valued at $7,533,000 after purchasing an additional 31,807 shares during the last quarter. Finally, SteelPeak Wealth LLC grew its stake in shares of Prudential Financial by 192.0% during the second quarter. SteelPeak Wealth LLC now owns 10,165 shares of the financial services provider's stock valued at $1,191,000 after purchasing an additional 6,684 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Trading Down 1.0 %

PRU traded down $1.18 during mid-day trading on Wednesday, hitting $120.06. The stock had a trading volume of 1,995,491 shares, compared to its average volume of 1,496,584. Prudential Financial, Inc. has a 1-year low of $100.60 and a 1-year high of $130.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The stock's fifty day simple moving average is $124.98 and its 200-day simple moving average is $120.44. The firm has a market capitalization of $42.74 billion, a price-to-earnings ratio of 10.70, a price-to-earnings-growth ratio of 0.91 and a beta of 1.29.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data 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. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The business 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, research analysts forecast that Prudential Financial, Inc. will post 13.35 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently disclosed 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. 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 4.33%. Prudential Financial's payout ratio is 46.22%.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the stock in a transaction on Tuesday, October 8th. The shares were purchased at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the purchase, the insider now owns 4,208,549 shares of the company's stock, valued at approximately $116,071,781.42. This represents a 6.61 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PRU. UBS Group increased their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the company a "neutral" rating in a research note on Tuesday, August 13th. Evercore ISI raised shares of Prudential Financial from an "underperform" rating to an "inline" rating and increased their price target for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Wells Fargo & Company increased their price target on shares of Prudential Financial from $116.00 to $117.00 and gave the company an "equal weight" rating in a research note on Tuesday, November 5th. 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. Finally, TD Cowen raised their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a "hold" rating in a research note on Wednesday, November 27th. Eleven analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial has a consensus rating of "Hold" and a consensus price target of $126.33.

Prudential Financial 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.