Prudential Financial, Inc. (NYSE:PRU) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 321,438 shares of the financial services provider's stock after selling 32,865 shares during the period. New York State Teachers Retirement System owned about 0.09% of Prudential Financial worth $38,100,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. International Assets Investment Management LLC boosted its position in shares of Prudential Financial by 4,130.8% in 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 acquiring an additional 1,267,571 shares during the period. Nordea Investment Management AB grew its stake in shares of Prudential Financial by 176.8% during the fourth quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider's stock worth $123,804,000 after buying an additional 665,180 shares during the last quarter. FMR LLC increased its holdings in Prudential Financial by 31.3% in the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider's stock worth $174,903,000 after purchasing an additional 344,254 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Prudential Financial by 4.1% in the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider's stock valued at $1,047,872,000 after buying an additional 341,787 shares during the period. Finally, Capital Advisors Inc. OK bought a new position in shares of Prudential Financial during the third quarter valued at $30,226,000. Institutional investors own 56.83% of the company's stock.

Prudential Financial Price Performance

Prudential Financial stock traded down $0.20 during mid-day trading on Wednesday, hitting $111.59. The stock had a trading volume of 1,475,382 shares, compared to its average volume of 1,705,937. The firm's 50 day moving average is $117.46 and its 200 day moving average is $119.71. Prudential Financial, Inc. has a one year low of $104.44 and a one year high of $130.55. The firm has a market capitalization of $39.95 billion, a P/E ratio of 14.94, a P/E/G ratio of 0.99 and a beta of 1.31. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 forecast that Prudential Financial, Inc. will post 14.34 earnings per share for the current fiscal 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 4.84%. The ex-dividend date is Tuesday, February 18th. Prudential Financial's payout ratio is presently 69.61%.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the business's stock in a transaction on Monday, November 25th. The shares were acquired at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the purchase, the insider now owns 4,780,293 shares of the company's stock, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

PRU has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of Prudential Financial from $129.00 to $125.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 12th. BMO Capital Markets initiated coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price objective for the company. Evercore ISI upgraded Prudential Financial from an "underperform" rating to an "inline" rating and raised their price objective for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Barclays boosted their target price on Prudential Financial from $128.00 to $134.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group raised their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $125.69.

Prudential Financial Company 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.