Prudential Financial, Inc. (PRU) Position Lifted by California Public Employees Retirement System

California Public Employees Retirement System lifted its stake in Prudential Financial, Inc. (NYSE:PRU) by 3.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,178,615 shares of the financial services provider’s stock after buying an additional 36,270 shares during the period. California Public Employees Retirement System owned approximately 0.28% of Prudential Financial worth $125,310,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. grew its position in shares of Prudential Financial by 2.9% in the 2nd quarter. BlackRock Inc. now owns 33,155,309 shares of the financial services provider’s stock valued at $3,585,415,000 after buying an additional 934,352 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Prudential Financial by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 30,885,285 shares of the financial services provider’s stock valued at $3,339,935,000 after buying an additional 612,799 shares during the last quarter. Capital Research Global Investors grew its position in shares of Prudential Financial by 1.2% in the 2nd quarter. Capital Research Global Investors now owns 13,662,673 shares of the financial services provider’s stock valued at $1,477,481,000 after buying an additional 162,833 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Prudential Financial by 11.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,157,881 shares of the financial services provider’s stock valued at $449,637,000 after buying an additional 442,168 shares during the last quarter. Finally, LSV Asset Management grew its position in shares of Prudential Financial by 1.0% in the 2nd quarter. LSV Asset Management now owns 3,372,864 shares of the financial services provider’s stock valued at $364,741,000 after buying an additional 32,998 shares during the last quarter. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Timothy P. Harris sold 10,527 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $115.00, for a total value of $1,210,605.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas C. Silitch sold 44,860 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the completion of the sale, the insider now owns 27,927 shares of the company’s stock, valued at approximately $3,121,400.79. The disclosure for this sale can be found here. Insiders sold a total of 100,017 shares of company stock valued at $11,219,151 in the last 90 days. Company insiders own 0.66% of the company’s stock.

PRU has been the subject of a number of recent research reports. Royal Bank Of Canada reiterated a “hold” rating and set a $117.00 price target on shares of Prudential Financial in a research note on Wednesday, September 6th. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a research note on Tuesday, October 10th. Citigroup upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price target for the company in a research note on Tuesday, October 17th. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Prudential Financial in a research note on Friday, November 10th. Finally, Morgan Stanley increased their price target on shares of Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 5th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Prudential Financial has an average rating of “Buy” and a consensus price target of $115.64.

Prudential Financial, Inc. (PRU) traded up $0.82 during mid-day trading on Monday, hitting $117.15. 1,184,200 shares of the stock traded hands, compared to its average volume of 1,844,590. Prudential Financial, Inc. has a one year low of $97.88 and a one year high of $117.99. The firm has a market cap of $50,420.00, a PE ratio of 11.32, a PEG ratio of 1.32 and a beta of 1.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.13 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, November 1st. The financial services provider reported $3.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.71 by $0.30. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. The company had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $12.24 billion. During the same quarter last year, the business earned $2.66 EPS. equities research analysts forecast that Prudential Financial, Inc. will post 10.44 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Monday, November 27th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Friday, November 24th. Prudential Financial’s dividend payout ratio (DPR) is presently 30.24%.

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Prudential Financial Profile

Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.

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

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