Oppenheimer & Co. Inc. Cuts Holdings in Prudential Financial, Inc. (NYSE:PRU)

Oppenheimer & Co. Inc. lowered its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 31.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,907 shares of the financial services provider's stock after selling 10,374 shares during the period. Oppenheimer & Co. Inc.'s holdings in Prudential Financial were worth $2,774,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. National Bank of Canada FI boosted its stake in shares of Prudential Financial by 44.9% in the 1st quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider's stock valued at $27,327,000 after purchasing an additional 71,274 shares in the last quarter. ORG Partners LLC bought a new stake in shares of Prudential Financial in the 2nd quarter worth approximately $156,000. PGGM Investments increased 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 buying an additional 31,807 shares during the period. Sei Investments Co. lifted its stake in Prudential Financial by 12.9% in the first quarter. Sei Investments Co. now owns 57,853 shares of the financial services provider's stock worth $6,791,000 after acquiring an additional 6,609 shares during the period. Finally, Janus Henderson Group PLC increased its position in Prudential Financial by 49.5% during the 1st quarter. Janus Henderson Group PLC now owns 80,148 shares of the financial services provider's stock valued at $9,409,000 after purchasing an additional 26,520 shares during the period. Institutional investors own 56.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. TD Cowen initiated coverage on Prudential Financial in a research note on Wednesday, October 9th. They issued a "hold" rating and a $130.00 target price for the company. Barclays raised their price objective on Prudential Financial from $118.00 to $119.00 and gave the company an "equal weight" rating in a research report on Friday, November 1st. Morgan Stanley reduced 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. Bank of America upped their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a "neutral" rating in a research note on Thursday, October 10th. Finally, Argus upgraded shares of Prudential Financial to a "strong-buy" rating in a report on Thursday, August 8th. Eleven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Prudential Financial presently has a consensus rating of "Hold" and a consensus price target of $125.69.

Prudential Financial Price Performance

Prudential Financial stock opened at $127.41 on Friday. The company has a market cap of $45.36 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 0.91 and a beta of 1.29. The firm's fifty day moving average is $122.20 and its 200 day moving average is $119.28. 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, Inc. has a 52-week low of $93.32 and a 52-week high of $129.13.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $14.57 billion. During the same period in the prior year, the firm posted $3.44 earnings per share. Sell-side analysts forecast that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 4.08%. Prudential Financial's dividend payout ratio (DPR) is presently 46.22%.

Insider Activity

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction 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 sale, the executive vice president now owns 14,535 shares of the company's stock, valued at $1,648,705.05. The trade was a 16.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $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 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.