Sumitomo Mitsui DS Asset Management Company Ltd Increases Position in Prudential Financial, Inc. (NYSE:PRU)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 10.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,528 shares of the financial services provider's stock after buying an additional 5,264 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Prudential Financial were worth $6,846,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Annex Advisory Services LLC grew its stake in Prudential Financial by 3.4% during the 2nd quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider's stock worth $289,000 after buying an additional 81 shares during the last quarter. Raymond James Trust N.A. grew its holdings in shares of Prudential Financial by 1.1% during the second quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider's stock valued at $951,000 after buying an additional 87 shares during the last quarter. Peoples Bank OH raised its stake in Prudential Financial by 2.3% in the 1st quarter. Peoples Bank OH now owns 4,046 shares of the financial services provider's stock worth $475,000 after acquiring an additional 90 shares during the last quarter. Quotient Wealth Partners LLC lifted its position in Prudential Financial by 3.9% during the 2nd quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider's stock worth $284,000 after acquiring an additional 92 shares during the period. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Prudential Financial by 1.3% in the first quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider's stock worth $875,000 after purchasing an additional 94 shares during the last quarter. Institutional investors own 56.83% of the company's stock.

Analyst Upgrades and Downgrades

PRU has been the subject of several research reports. Morgan Stanley decreased their price objective on shares of Prudential Financial from $123.00 to $122.00 and set an "equal weight" rating for the company in a research note on Monday, August 19th. TD Cowen started coverage on shares of Prudential Financial in a report on Wednesday, October 9th. They issued a "hold" rating and a $130.00 price target on the stock. Argus upgraded Prudential Financial to a "strong-buy" rating in a research note on Thursday, August 8th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $121.00 target price on shares of Prudential Financial in a report on Wednesday, August 21st. Finally, Citigroup boosted their price target on Prudential Financial from $104.00 to $120.00 and gave the company a "neutral" rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $123.69.

Insider Buying and Selling at Prudential Financial

In related news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the business's stock in a transaction on Tuesday, October 8th. The shares were bought at an average cost 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 approximately $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of the firm's stock in a transaction that occurred on 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 directly owns 14,535 shares of the company's stock, valued at approximately $1,648,705.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company's stock.

Prudential Financial Trading Down 0.3 %

Shares of PRU traded down $0.42 during midday trading on Friday, reaching $127.40. The company had a trading volume of 1,055,546 shares, compared to its average volume of 1,490,606. The firm has a 50 day simple moving average of $118.85 and a 200-day simple moving average of $117.50. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The stock has a market cap of $45.74 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 0.98 and a beta of 1.30. Prudential Financial, Inc. has a 1-year low of $87.95 and a 1-year high of $128.52.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing analysts' consensus estimates of $3.43 by ($0.04). The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. Research analysts forecast that Prudential Financial, Inc. will post 13.29 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were given a $1.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.08%. Prudential Financial's payout ratio is currently 88.44%.

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.