Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. cut its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 161,650 shares of the financial services provider’s stock after selling 2,399 shares during the period. Asset Management One Co. Ltd.’s holdings in Prudential Financial were worth $19,576,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Creekmur Asset Management LLC grew its stake in shares of Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 108 shares during the last quarter. Lynx Investment Advisory acquired a new stake in shares of Prudential Financial during the second quarter worth $29,000. Strategic Financial Concepts LLC grew its holdings in shares of Prudential Financial by 1,312.4% during the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after buying an additional 25,027 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of Prudential Financial in the 1st quarter valued at $33,000. Finally, ESL Trust Services LLC purchased a new position in Prudential Financial in the 1st quarter worth $34,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Performance

NYSE PRU opened at $120.18 on Wednesday. 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’s 50 day simple moving average is $121.20 and its 200-day simple moving average is $118.55. The company has a market cap of $42.78 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 0.86 and a beta of 1.29. Prudential Financial, Inc. has a 1-year low of $89.90 and a 1-year high of $128.52.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 6.03% and a return on equity of 15.30%. During the same quarter in the previous year, the company posted $3.44 EPS. As a group, equities research analysts anticipate that Prudential Financial, Inc. will post 13.32 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.33%. Prudential Financial’s dividend payout ratio (DPR) is 46.22%.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the stock in a transaction on Tuesday, October 8th. The shares were bought 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 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was bought 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 of the company’s stock, valued at $116,071,781.42. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a report on Wednesday, August 21st. Barclays raised their target price on shares of Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Bank of America boosted their price target on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. TD Cowen started coverage on shares of Prudential Financial in a report on Wednesday, October 9th. They set a “hold” rating and a $130.00 target price for the company. Finally, Citigroup raised their price target 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 investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $123.85.

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.