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

Asset Management One Co. Ltd. trimmed its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.5% in the third quarter, HoldingsChannel.com reports. The fund 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 and hedge funds also recently bought and sold shares of the business. Larson Financial Group LLC raised its stake in shares of Prudential Financial by 165.7% in the first quarter. Larson Financial Group LLC now owns 364 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 227 shares in the last quarter. Catalina Capital Group LLC purchased a new stake in shares of Prudential Financial during the first quarter worth approximately $247,000. TFG Advisers LLC raised its holdings in Prudential Financial by 1.3% in the first quarter. TFG Advisers LLC now owns 15,078 shares of the financial services provider’s stock valued at $1,770,000 after acquiring an additional 194 shares in the last quarter. Advisory Services Network LLC grew its holdings in Prudential Financial by 20.8% during the 1st quarter. Advisory Services Network LLC now owns 59,934 shares of the financial services provider’s stock worth $7,036,000 after acquiring an additional 10,321 shares in the last quarter. Finally, Duality Advisers LP purchased a new stake in shares of Prudential Financial in the 1st quarter valued at approximately $3,735,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 stock was purchased at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the purchase, the insider now owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was purchased at an average cost of $27.58 per share, for a total transaction 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 $116,071,781.42. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, 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 completion of the sale, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PRU shares. UBS Group boosted their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $121.00 target price on shares of Prudential Financial in a research report on Wednesday, August 21st. Citigroup increased their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Morgan Stanley lowered their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Finally, Barclays lifted their target price on Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Prudential Financial has an average rating of “Hold” and a consensus target price of $123.85.

Prudential Financial Price Performance

Prudential Financial stock opened at $120.18 on Wednesday. The company has a market cap of $42.78 billion, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 0.86 and a beta of 1.29. Prudential Financial, Inc. has a one year low of $89.90 and a one year high of $128.52. The business has a fifty day moving average of $121.20 and a two-hundred day moving average of $118.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion during 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 period last year, the company posted $3.44 earnings per share. As a group, analysts predict that Prudential Financial, Inc. will post 13.32 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.33%. Prudential Financial’s dividend payout ratio is currently 46.22%.

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.