Sumitomo Mitsui DS Asset Management Company Ltd Decreases Holdings in Prudential Financial, Inc. (NYSE:PRU)

Sumitomo Mitsui DS Asset Management Company Ltd cut its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,356 shares of the financial services provider’s stock after selling 241 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Prudential Financial were worth $5,326,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cambridge Trust Co. raised its stake in Prudential Financial by 77.2% in the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after buying an additional 105 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new position in shares of Prudential Financial in the 4th quarter valued at approximately $26,000. Headinvest LLC purchased a new stake in Prudential Financial during the 3rd quarter worth approximately $27,000. Arlington Trust Co LLC increased its stake in Prudential Financial by 151.6% during the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 185 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of Prudential Financial during the third quarter worth $38,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

PRU has been the subject of a number of research reports. Evercore ISI lifted their price target on Prudential Financial from $104.00 to $115.00 and gave the stock an “underperform” rating in a research report on Thursday, April 11th. TheStreet upgraded shares of Prudential Financial from a “c+” rating to an “a-” rating in a research report on Tuesday, February 6th. Wells Fargo & Company increased their price target on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods upped their target price on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $118.00 price target (down from $119.00) on shares of Prudential Financial in a report on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $111.33.

Prudential Financial Stock Up 0.8 %

PRU stock opened at $111.47 on Tuesday. Prudential Financial, Inc. has a 52 week low of $77.22 and a 52 week high of $118.69. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The firm has a 50-day simple moving average of $111.38 and a 200-day simple moving average of $103.36. The stock has a market capitalization of $40.02 billion, a P/E ratio of 16.66, a P/E/G ratio of 0.75 and a beta of 1.37.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). The firm had revenue of $13.02 billion during the quarter, compared to analysts’ expectations of $12.99 billion. Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.42 EPS. Equities analysts forecast that Prudential Financial, Inc. will post 13.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were issued a $1.30 dividend. The ex-dividend date was Friday, February 16th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a yield of 4.66%. Prudential Financial’s dividend payout ratio is currently 77.73%.

Insiders Place Their Bets

In related news, EVP Andrew F. Sullivan sold 7,685 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total value of $857,415.45. Following the sale, the executive vice president now owns 13,691 shares in the company, valued at approximately $1,527,504.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Andrew F. Sullivan sold 7,685 shares of Prudential Financial stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total value of $857,415.45. Following the completion of the transaction, the executive vice president now owns 13,691 shares in the company, valued at $1,527,504.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ann M. Kappler sold 7,222 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total value of $782,792.58. Following the transaction, the executive vice president now directly owns 24,381 shares of the company’s stock, valued at $2,642,656.59. The disclosure for this sale can be found here. Insiders sold a total of 29,255 shares of company stock valued at $3,215,664 over the last quarter. 0.34% of the stock is owned by insiders.

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 Life, and International Businesses segments.