LSV Asset Management Sells 6,480 Shares of Prudential Financial, Inc. $PRU

LSV Asset Management lowered its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 307,897 shares of the financial services provider’s stock after selling 6,480 shares during the period. LSV Asset Management owned 0.09% of Prudential Financial worth $33,080,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Econ Financial Services Corp acquired a new stake in Prudential Financial in the 2nd quarter valued at about $1,662,000. Nordea Investment Management AB raised its stake in Prudential Financial by 49.2% in the second quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock valued at $184,192,000 after buying an additional 567,571 shares during the period. Brookwood Investment Group LLC acquired a new stake in shares of Prudential Financial in the second quarter valued at approximately $289,000. Acadian Asset Management LLC boosted its stake in shares of Prudential Financial by 3.0% during the 1st quarter. Acadian Asset Management LLC now owns 109,447 shares of the financial services provider’s stock worth $12,217,000 after acquiring an additional 3,183 shares during the period. Finally, Asahi Life Asset Management CO. LTD. acquired a new position in shares of Prudential Financial during the 2nd quarter worth approximately $298,000. 56.83% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Charles F. Lowrey sold 48,164 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were 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 in the company, valued at approximately $17,779,917.96. This trade represents a 22.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the transaction, the executive vice president owned 21,506 shares of the company’s stock, valued at approximately $2,358,132.90. This represents a 15.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.25% of the company’s stock.

Prudential Financial Trading Down 0.8%

Shares of NYSE:PRU opened at $102.73 on Wednesday. The business’s 50 day simple moving average is $103.59 and its 200 day simple moving average is $104.71. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market capitalization of $35.96 billion, a P/E ratio of 14.11, a P/E/G ratio of 0.88 and a beta of 1.05.

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

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Tuesday, November 18th will be given a $1.35 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $5.40 annualized dividend and a dividend yield of 5.3%. Prudential Financial’s payout ratio is presently 74.18%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PRU shares. Keefe, Bruyette & Woods lifted their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Wall Street Zen raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Morgan Stanley increased their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Barclays reduced their price objective on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Prudential Financial in a research note on Thursday, November 13th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and a consensus target price of $120.73.

Prudential Financial Company 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.