Prudential Financial, Inc. $PRU Shares Sold by Ethic Inc.

Ethic Inc. cut its stake in Prudential Financial, Inc. (NYSE:PRU) by 10.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 50,877 shares of the financial services provider’s stock after selling 6,152 shares during the period. Ethic Inc.’s holdings in Prudential Financial were worth $5,278,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PRU. Vanguard Group Inc. boosted its holdings in shares of Prudential Financial by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 42,502,160 shares of the financial services provider’s stock valued at $4,566,432,000 after purchasing an additional 600,482 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Prudential Financial by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 9,402,393 shares of the financial services provider’s stock worth $1,010,474,000 after buying an additional 163,874 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Prudential Financial by 1.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,408,942 shares of the financial services provider’s stock valued at $258,817,000 after acquiring an additional 31,088 shares during the last quarter. Amundi grew its position in Prudential Financial by 14.1% during the first quarter. Amundi now owns 1,751,633 shares of the financial services provider’s stock valued at $183,571,000 after acquiring an additional 216,119 shares during the period. Finally, Nordea Investment Management AB increased its stake in Prudential Financial by 49.2% during the second quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock worth $184,192,000 after acquiring an additional 567,571 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $113.66 on Wednesday. The stock has a market cap of $39.78 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 0.92 and a beta of 0.97. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $123.88. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $108.79 and a 200-day simple moving average of $106.27.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%.The firm had revenue of $8.35 billion during the quarter. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, November 18th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Tuesday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is currently 74.18%.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Caroline Feeney sold 6,555 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $116.28, for a total value of $762,215.40. Following the transaction, the executive vice president owned 22,523 shares in the company, valued at approximately $2,618,974.44. This represents a 22.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles F. Lowrey sold 48,164 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the completion of the sale, the chairman owned 165,564 shares of the company’s stock, valued at approximately $17,779,917.96. The trade was a 22.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 62,719 shares of company stock valued at $6,796,067. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PRU. Keefe, Bruyette & Woods lifted their price objective on Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a research note on Monday, November 3rd. Wall Street Zen upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Mizuho initiated coverage on shares of Prudential Financial in a report on Tuesday, December 16th. They issued a “neutral” rating and a $125.00 price target for the company. Evercore ISI upped their target price on Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a report on Thursday, October 30th. Finally, Morgan Stanley lifted their price target on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Eleven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Prudential Financial has an average rating of “Reduce” and a consensus target price of $118.00.

Prudential Financial Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.