Ontario Teachers Pension Plan Board Sells 21,857 Shares of Prudential Financial Inc (NYSE:PRU)

Ontario Teachers Pension Plan Board lowered its stake in shares of Prudential Financial Inc (NYSE:PRU) by 54.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,240 shares of the financial services provider’s stock after selling 21,857 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Prudential Financial were worth $951,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Savant Capital LLC boosted its stake in shares of Prudential Financial by 1.9% in the 4th quarter. Savant Capital LLC now owns 6,335 shares of the financial services provider’s stock valued at $594,000 after purchasing an additional 116 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Prudential Financial by 6.9% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,787 shares of the financial services provider’s stock valued at $168,000 after purchasing an additional 116 shares during the last quarter. Wealthspire Advisors L.P. boosted its stake in shares of Prudential Financial by 2.0% in the 4th quarter. Wealthspire Advisors L.P. now owns 5,782 shares of the financial services provider’s stock valued at $542,000 after purchasing an additional 116 shares during the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC boosted its stake in shares of Prudential Financial by 1.9% in the 4th quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 6,407 shares of the financial services provider’s stock valued at $579,000 after purchasing an additional 118 shares during the last quarter. Finally, Prestige Wealth Management Group LLC boosted its stake in shares of Prudential Financial by 13.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,059 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 122 shares during the last quarter. 63.37% of the stock is currently owned by institutional investors.

Shares of PRU stock opened at $56.28 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.14 and a current ratio of 0.14. The company has a market capitalization of $22.78 billion, a P/E ratio of 7.81, a price-to-earnings-growth ratio of 0.70 and a beta of 1.71. The company’s 50 day moving average price is $55.39 and its two-hundred day moving average price is $78.11. Prudential Financial Inc has a 52 week low of $38.62 and a 52 week high of $103.56.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $2.32 EPS for the quarter, missing the consensus estimate of $2.84 by ($0.52). The company had revenue of $13.33 billion for the quarter, compared to analyst estimates of $14.81 billion. Prudential Financial had a return on equity of 7.13% and a net margin of 5.16%. During the same quarter last year, the business posted $3.00 earnings per share. Analysts forecast that Prudential Financial Inc will post 9.2 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Tuesday, May 26th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 7.82%. Prudential Financial’s dividend payout ratio (DPR) is presently 37.64%.

In other news, SVP Nicholas C. Silitch sold 8,200 shares of Prudential Financial stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $88.17, for a total value of $722,994.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.33% of the stock is owned by company insiders.

Several brokerages have recently issued reports on PRU. Morgan Stanley reduced their target price on shares of Prudential Financial from $102.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 17th. JPMorgan Chase & Co. cut their price target on shares of Prudential Financial from $108.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Credit Suisse Group reiterated a “hold” rating and issued a $64.00 price target on shares of Prudential Financial in a research report on Wednesday, May 6th. B. Riley cut their price target on shares of Prudential Financial from $70.00 to $57.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 21st. Finally, ValuEngine downgraded shares of Prudential Financial from a “sell” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $79.71.

Prudential Financial Profile

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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