Versor Investments LP lowered its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 41.6% 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 5,961 shares of the financial services provider's stock after selling 4,239 shares during the period. Versor Investments LP's holdings in Prudential Financial were worth $722,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 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 purchasing an additional 6,609 shares during the last quarter. QRG Capital Management Inc. raised its stake in shares of Prudential Financial by 5.2% during the first quarter. QRG Capital Management Inc. now owns 14,876 shares of the financial services provider's stock valued at $1,746,000 after acquiring an additional 737 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Prudential Financial by 25.0% during the first quarter. Russell Investments Group Ltd. now owns 180,555 shares of the financial services provider's stock valued at $21,171,000 after acquiring an additional 36,159 shares in the last quarter. Bleakley Financial Group LLC raised its stake in shares of Prudential Financial by 3.2% during the first quarter. Bleakley Financial Group LLC now owns 8,649 shares of the financial services provider's stock valued at $1,015,000 after acquiring an additional 272 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in Prudential Financial by 6.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 406,295 shares of the financial services provider's stock worth $47,699,000 after buying an additional 25,196 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts recently commented on PRU shares. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $121.00 price objective on shares of Prudential Financial in a research note on Wednesday, August 21st. Argus raised shares of Prudential Financial to a "strong-buy" rating in a report on Thursday, August 8th. Bank of America boosted their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. UBS Group boosted their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the company a "neutral" rating in a report on Tuesday, August 13th. Finally, Citigroup boosted their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the company a "neutral" rating in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $123.85.
View Our Latest Report on PRU
Insider Activity at Prudential Financial
In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, the executive vice president now directly owns 10,175 shares of the company's stock, valued at approximately $1,220,694.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction 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 completion of the sale, the executive vice president now directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the purchase, the insider now directly 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 disclosure for this purchase can be found here. 0.31% of the stock is currently owned by company insiders.
Prudential Financial Trading Up 0.2 %
Shares of Prudential Financial stock traded up $0.30 on Wednesday, reaching $125.79. The company had a trading volume of 305,263 shares, compared to its average volume of 1,493,643. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a market cap of $44.78 billion, a PE ratio of 11.17, a PEG ratio of 0.89 and a beta of 1.29. The firm's 50 day moving average price is $121.65 and its two-hundred day moving average price is $119.02. Prudential Financial, Inc. has a 52-week low of $92.57 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, topping analysts' consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion for the quarter, compared to analysts' expectations of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period in the prior year, the firm earned $3.44 earnings per share. Sell-side analysts predict that Prudential Financial, Inc. will post 13.33 earnings per share for the current fiscal year.
Prudential Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date is Tuesday, November 19th. Prudential Financial's dividend payout ratio is currently 46.22%.
Prudential Financial Profile
(
Free Report)
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.
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