Prudential Financial, Inc. (NYSE:PRU) Stake Lessened by Rogco LP

Rogco LP trimmed its position in Prudential Financial, Inc. (NYSE:PRU) by 3.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,657 shares of the financial services provider’s stock after selling 210 shares during the period. Rogco LP’s holdings in Prudential Financial were worth $685,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PRU. International Assets Investment Management LLC boosted its stake in shares of Prudential Financial by 4,130.8% during the 3rd 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 buying an additional 1,267,571 shares during the period. AQR Capital Management LLC increased its holdings in shares of Prudential Financial by 97.4% during the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock worth $84,874,000 after purchasing an additional 357,300 shares during the period. Swedbank AB acquired a new stake in shares of Prudential Financial during the 1st quarter worth approximately $35,855,000. Legal & General Group Plc lifted its holdings in shares of Prudential Financial by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock worth $415,134,000 after acquiring an additional 305,143 shares during the period. Finally, OFI Invest Asset Management grew its stake in shares of Prudential Financial by 10,529.7% in the 2nd quarter. OFI Invest Asset Management now owns 155,513 shares of the financial services provider’s stock valued at $17,004,000 after purchasing an additional 154,050 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were acquired at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the transaction, the insider now directly owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of Prudential Financial stock in a transaction on Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the transaction, the insider now owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a research note on Wednesday, August 21st. Bank of America increased their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Argus raised Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Citigroup increased their price objective on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, eleven have given 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, Prudential Financial currently has a consensus rating of “Hold” and a consensus target price of $123.69.

Prudential Financial Price Performance

Prudential Financial stock traded down $0.62 during midday trading on Thursday, reaching $124.54. The company’s stock had a trading volume of 202,407 shares, compared to its average volume of 1,475,282. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The stock has a market cap of $44.71 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 0.97 and a beta of 1.30. Prudential Financial, Inc. has a 52 week low of $87.95 and a 52 week high of $128.52. The business has a 50-day moving average price of $119.79 and a 200-day moving average price of $117.69.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing the consensus estimate of $3.43 by ($0.04). The company had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. On average, sell-side analysts predict that Prudential Financial, Inc. will post 13.3 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were given a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 annualized dividend and a yield of 4.18%. Prudential Financial’s dividend payout ratio is presently 88.44%.

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.