Victory Capital Management Inc. Sells 42,440 Shares of Prudential Financial, Inc. (NYSE:PRU)

Victory Capital Management Inc. decreased its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 10.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 358,605 shares of the financial services provider's stock after selling 42,440 shares during the quarter. Victory Capital Management Inc. owned about 0.10% of Prudential Financial worth $43,427,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PRU. Sei Investments Co. grew its stake in Prudential Financial by 12.9% during the first quarter. Sei Investments Co. now owns 57,853 shares of the financial services provider's stock worth $6,791,000 after purchasing an additional 6,609 shares during the period. Kingsview Wealth Management LLC increased its stake in shares of Prudential Financial by 19.3% in the 1st quarter. Kingsview Wealth Management LLC now owns 6,910 shares of the financial services provider's stock valued at $811,000 after acquiring an additional 1,116 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in shares of Prudential Financial by 4.0% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 5,910 shares of the financial services provider's stock valued at $694,000 after acquiring an additional 230 shares during the period. Nwam LLC bought a new position in Prudential Financial during the first quarter worth $209,000. Finally, Banco Santander S.A. acquired a new stake in Prudential Financial in the first quarter worth $555,000. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Stock Performance

Shares of NYSE:PRU traded up $1.66 during trading on Friday, hitting $127.41. 3,049,858 shares of the company were exchanged, compared to its average volume of 1,502,596. The company has a market cap of $45.36 billion, a PE ratio of 11.33, a P/E/G ratio of 0.89 and a beta of 1.29. Prudential Financial, Inc. has a 52-week low of $93.32 and a 52-week high of $129.13. 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 has a 50 day moving average of $122.20 and a 200 day moving average of $119.22.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The business had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter last year, the company earned $3.44 EPS. As a group, equities research analysts predict that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Dividend Announcement

The company 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. This represents a $5.20 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date is Tuesday, November 19th. Prudential Financial's dividend payout ratio (DPR) is presently 46.22%.

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 shares were acquired at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the purchase, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. The trade was a 6.61 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 of the company's stock, valued at $1,648,705.05. The trade was a 16.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PRU. Wells Fargo & Company upped their price objective on shares of Prudential Financial from $116.00 to $117.00 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. Morgan Stanley reduced their price objective on 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. Bank of America upped their target price on Prudential Financial from $109.00 to $118.00 and gave the stock a "neutral" rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $121.00 price objective on shares of Prudential Financial in a report on Wednesday, August 21st. Finally, Barclays increased their price target 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. Eleven analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $125.69.

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.