Public Employees Retirement Association of Colorado trimmed its stake in Prudential Financial, Inc. (NYSE:PRU) by 0.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 73,378 shares of the financial services provider’s stock after selling 244 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Prudential Financial were worth $4,661,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in PRU. Baystate Wealth Management LLC grew its position in Prudential Financial by 954.5% in the second quarter. Baystate Wealth Management LLC now owns 464 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 420 shares during the period. CX Institutional grew its position in Prudential Financial by 104.3% in the third quarter. CX Institutional now owns 472 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 241 shares during the period. Mercer Capital Advisers Inc. bought a new stake in Prudential Financial in the third quarter valued at $30,000. Old North State Trust LLC bought a new stake in Prudential Financial in the third quarter valued at $32,000. Finally, Exchange Traded Concepts LLC bought a new stake in Prudential Financial in the third quarter valued at $44,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.
A number of analysts have weighed in on the company. ValuEngine cut Prudential Financial from a “sell” rating to a “strong sell” rating in a research report on Monday, August 3rd. Wells Fargo & Company increased their target price on Prudential Financial from $65.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, August 6th. Morgan Stanley increased their target price on Prudential Financial from $76.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday. Zacks Investment Research upgraded Prudential Financial from a “sell” rating to a “hold” rating and set a $67.00 target price on the stock in a report on Wednesday, October 28th. Finally, Barclays assumed coverage on Prudential Financial in a report on Tuesday, November 17th. They set an “equal weight” rating and a $76.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $73.00.
Shares of PRU opened at $75.65 on Friday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.30. Prudential Financial, Inc. has a 12-month low of $38.62 and a 12-month high of $97.24. The firm has a market capitalization of $29.96 billion, a PE ratio of -122.02, a price-to-earnings-growth ratio of 0.77 and a beta of 1.69. The stock’s fifty day simple moving average is $67.59 and its 200-day simple moving average is $64.68.
Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, November 3rd. The financial services provider reported $3.21 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.52. Prudential Financial had a positive return on equity of 6.13% and a negative net margin of 0.25%. During the same period last year, the business earned $3.22 EPS. Analysts anticipate that Prudential Financial, Inc. will post 9.45 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Tuesday, November 24th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 5.82%. The ex-dividend date is Monday, November 23rd. Prudential Financial’s payout ratio is 37.64%.
In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,334 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $69.54, for a total value of $370,926.36. Following the transaction, the senior vice president now owns 27,784 shares of the company’s stock, valued at $1,932,099.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.33% of the company’s stock.
Prudential Financial Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.
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