Cullinan Associates Inc. Grows Position in Prudential Financial, Inc. (NYSE:PRU)

Cullinan Associates Inc. lifted its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 13.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,932 shares of the financial services provider's stock after buying an additional 7,207 shares during the period. Cullinan Associates Inc.'s holdings in Prudential Financial were worth $7,533,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Mainstay Capital Management LLC ADV boosted its stake in Prudential Financial by 7.8% during the third quarter. Mainstay Capital Management LLC ADV now owns 18,513 shares of the financial services provider's stock worth $2,242,000 after buying an additional 1,336 shares during the period. IFM Investors Pty Ltd grew its holdings in Prudential Financial by 0.3% during the 3rd quarter. IFM Investors Pty Ltd now owns 82,144 shares of the financial services provider's stock valued at $9,948,000 after purchasing an additional 213 shares during the last quarter. Moody Aldrich Partners LLC purchased a new stake in Prudential Financial in the 3rd quarter worth about $341,000. Impact Partnership Wealth LLC boosted its position in shares of Prudential Financial by 84.8% during the third quarter. Impact Partnership Wealth LLC now owns 10,721 shares of the financial services provider's stock valued at $1,298,000 after buying an additional 4,920 shares during the period. Finally, International Assets Investment Management LLC grew its stake in shares of 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 valued at $157,219,000 after buying an additional 1,267,571 shares during the last quarter. Institutional investors own 56.83% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on PRU. JPMorgan Chase & Co. upped their price objective on Prudential Financial from $118.00 to $128.00 and gave the company a "neutral" rating in a research report on Tuesday, July 2nd. Barclays began coverage on shares of Prudential Financial in a research note on Wednesday, September 4th. They issued an "equal weight" rating and a $118.00 price target on the stock. Argus upgraded shares of 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 price target on shares of Prudential Financial in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company increased their price objective on Prudential Financial from $113.00 to $116.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $123.69.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of Prudential Financial stock in a transaction that occurred on Tuesday, October 8th. The stock was bought at an average price of $27.58 per share, for a total transaction 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. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the business's stock in a transaction that occurred on Tuesday, October 8th. The shares were bought at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the acquisition, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial 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 sale, the executive vice president now owns 10,175 shares of the company's stock, valued at approximately $1,220,694.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Prudential Financial Stock Down 1.5 %

NYSE PRU traded down $1.90 on Friday, hitting $123.46. The stock had a trading volume of 1,216,620 shares, compared to its average volume of 1,476,441. The business's fifty day moving average price is $120.03 and its 200 day moving average price is $117.74. The stock has a market cap of $44.08 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 0.96 and a beta of 1.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial, Inc. has a 52-week low of $87.95 and a 52-week high of $128.52.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.43 by ($0.04). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The business had revenue of $13.84 billion for the quarter, compared to analysts' expectations of $13.78 billion. Equities research analysts anticipate that Prudential Financial, Inc. will post 13.3 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial's dividend payout ratio (DPR) is presently 66.84%.

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.