Prudential Financial, Inc. $PRU Holdings Lowered by KBC Group NV

KBC Group NV cut its stake in Prudential Financial, Inc. (NYSE:PRU) by 74.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,644 shares of the financial services provider’s stock after selling 236,276 shares during the period. KBC Group NV’s holdings in Prudential Financial were worth $8,556,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRU. Meeder Asset Management Inc. boosted its stake in Prudential Financial by 90.2% during the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 111 shares in the last quarter. Cheviot Value Management LLC acquired a new stake in shares of Prudential Financial in the first quarter valued at $26,000. AlphaQuest LLC boosted its stake in Prudential Financial by 12,250.0% during the first quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after buying an additional 245 shares in the last quarter. Clearstead Trust LLC grew its holdings in Prudential Financial by 350.8% during the first quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 207 shares during the period. Finally, N.E.W. Advisory Services LLC bought a new stake in Prudential Financial in the first quarter worth about $45,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Down 0.7%

Shares of NYSE:PRU opened at $107.12 on Friday. The firm has a 50 day simple moving average of $103.70 and a 200 day simple moving average of $104.68. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market cap of $37.49 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 0.88 and a beta of 1.05.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. The company had revenue of $8.35 billion for the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.98%. As a group, research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th will be given a dividend of $1.35 per share. The ex-dividend date is Tuesday, November 18th. This represents a $5.40 dividend on an annualized basis and a yield of 5.0%. Prudential Financial’s dividend payout ratio (DPR) is presently 74.18%.

Insider Activity

In other news, EVP Ann M. Kappler sold 4,000 shares of the company’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $109.65, for a total value of $438,600.00. Following the transaction, the executive vice president owned 21,506 shares in the company, valued at $2,358,132.90. This represents a 15.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Charles F. Lowrey sold 48,164 shares of the firm’s 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 sale, the chairman owned 165,564 shares of the company’s stock, valued at approximately $17,779,917.96. This represents a 22.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PRU. Weiss Ratings restated a “hold (c+)” rating on shares of Prudential Financial in a research report on Thursday. Wall Street Zen raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Wolfe Research started coverage on shares of Prudential Financial in a research report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Morgan Stanley upped their price target on Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Finally, Evercore ISI raised their price objective on Prudential Financial from $120.00 to $122.00 and gave the stock an “in-line” rating in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and an average target price of $120.73.

Prudential Financial Profile

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.