Gulf International Bank UK Ltd Cuts Holdings in Prudential Financial, Inc. (NYSE:PRU)

Gulf International Bank UK Ltd cut its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 9.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,249 shares of the financial services provider's stock after selling 2,540 shares during the period. Gulf International Bank UK Ltd's holdings in Prudential Financial were worth $2,874,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Glenmede Trust Co. NA boosted its position in shares of Prudential Financial by 7.4% during the third quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider's stock worth $2,176,000 after acquiring an additional 1,234 shares during the last quarter. Avanza Fonder AB bought a new position in shares of Prudential Financial during the 4th quarter valued at about $3,423,000. Gateway Investment Advisers LLC grew its position in shares of Prudential Financial by 56.1% during the fourth quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider's stock valued at $2,607,000 after purchasing an additional 7,907 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Prudential Financial by 3.9% in the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider's stock worth $50,830,000 after purchasing an additional 15,695 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Prudential Financial by 2.3% in the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider's stock worth $9,597,000 after buying an additional 1,765 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Trading Down 2.2 %

Prudential Financial stock traded down $2.46 during trading hours on Tuesday, hitting $111.02. The company had a trading volume of 1,034,868 shares, compared to its average volume of 1,711,482. The firm has a market cap of $39.74 billion, a P/E ratio of 14.85, a P/E/G ratio of 0.98 and a beta of 1.31. The company has a 50-day moving average price of $116.25 and a two-hundred day moving average price of $119.90. Prudential Financial, Inc. has a 1 year low of $104.44 and a 1 year high of $130.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be issued a $1.35 dividend. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend is Tuesday, February 18th. Prudential Financial's payout ratio is presently 72.29%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PRU shares. Keefe, Bruyette & Woods lowered their target price on Prudential Financial from $129.00 to $125.00 and set a "market perform" rating for the company in a research report on Wednesday, February 12th. Barclays raised their price objective on Prudential Financial from $128.00 to $134.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Morgan Stanley decreased their price target on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating on the stock in a report on Friday. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 19th. Finally, TD Cowen increased their target price 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. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $126.15.

About Prudential Financial

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.