Prudential Financial, Inc. (NYSE:PRU) Holdings Decreased by Investors Research Corp

Investors Research Corp reduced its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 9.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,217 shares of the financial services provider’s stock after selling 625 shares during the quarter. Investors Research Corp’s holdings in Prudential Financial were worth $753,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC acquired a new position in shares of Prudential Financial in the second quarter worth $156,000. PGGM Investments lifted its holdings in shares of Prudential Financial by 98.0% during the 2nd quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock valued at $7,533,000 after buying an additional 31,807 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Prudential Financial by 4.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider’s stock valued at $19,701,000 after buying an additional 6,641 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Prudential Financial by 49.5% in the first quarter. Janus Henderson Group PLC now owns 80,148 shares of the financial services provider’s stock worth $9,409,000 after buying an additional 26,520 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new stake in Prudential Financial in the second quarter valued at approximately $530,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

PRU traded up $0.82 on Thursday, hitting $124.93. 55,265 shares of the stock traded hands, compared to its average volume of 1,495,725. The business has a fifty day moving average price of $122.86 and a two-hundred day moving average price of $119.56. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 52 week low of $93.99 and a 52 week high of $129.13. The firm has a market capitalization of $44.48 billion, a PE ratio of 11.03, a P/E/G ratio of 0.89 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The firm had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the previous year, the company earned $3.44 earnings per share. On average, research analysts predict that Prudential Financial, Inc. will post 13.33 EPS 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. Shareholders 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 4.16%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s payout ratio is 46.22%.

Analyst Upgrades and Downgrades

PRU has been the topic of a number of recent research reports. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their price target for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Barclays upped their price target on Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. UBS Group raised their price objective on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. TD Cowen initiated coverage on Prudential Financial in a research report on Wednesday, October 9th. They set a “hold” rating and a $130.00 target price for the company. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a research note on Wednesday, August 21st. Eleven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $125.69.

Insider Buying and Selling 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 stock was 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 $116,071,781.42. The trade was a 6.61 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction that occurred 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 owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This trade represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

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.