Prudential Financial, Inc. (NYSE:PRU) Shares Sold by TD Asset Management Inc

TD Asset Management Inc cut its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 120,883 shares of the financial services provider’s stock after selling 3,158 shares during the period. TD Asset Management Inc’s holdings in Prudential Financial were worth $10,664,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Prudential Financial during the fourth quarter valued at approximately $25,000. Pacific Center for Financial Services acquired a new stake in shares of Prudential Financial during the first quarter valued at approximately $27,000. Barrett & Company Inc. acquired a new stake in shares of Prudential Financial during the first quarter valued at approximately $28,000. Riverview Trust Co raised its holdings in shares of Prudential Financial by 109.3% during the second quarter. Riverview Trust Co now owns 314 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 164 shares during the period. Finally, Carolinas Wealth Consulting LLC raised its holdings in shares of Prudential Financial by 2,347.1% during the first quarter. Carolinas Wealth Consulting LLC now owns 416 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 399 shares during the period. 54.92% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Price Performance

NYSE PRU opened at $95.75 on Monday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.70. The company has a fifty day simple moving average of $93.77 and a 200 day simple moving average of $90.62. The company has a market cap of $34.57 billion, a P/E ratio of 61.77, a P/E/G ratio of 0.77 and a beta of 1.39. Prudential Financial, Inc. has a 1 year low of $75.37 and a 1 year high of $108.83.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $0.28. The business had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $12.91 billion. Prudential Financial had a net margin of 1.21% and a return on equity of 16.03%. During the same period in the prior year, the firm earned $2.13 EPS. On average, sell-side analysts predict that Prudential Financial, Inc. will post 11.71 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Tuesday, November 21st will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date is Monday, November 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 322.58%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PRU. JPMorgan Chase & Co. cut their price target on shares of Prudential Financial from $121.00 to $119.00 and set an “overweight” rating on the stock in a report on Friday, October 6th. Jefferies Financial Group upgraded shares of Prudential Financial from an “underperform” rating to a “hold” rating and upped their price objective for the company from $70.00 to $93.00 in a research note on Wednesday, September 13th. Wells Fargo & Company upped their price objective on shares of Prudential Financial from $89.00 to $92.00 and gave the company an “underweight” rating in a research note on Tuesday, August 15th. StockNews.com began coverage on shares of Prudential Financial in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 price objective on shares of Prudential Financial in a research note on Friday, September 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $103.00.

About Prudential Financial

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 Annuities, Individual Life, Assurance IQ, and International Businesses segments.