Brandywine Global Investment Management LLC Cuts Holdings in Prudential Financial, Inc. $PRU

Brandywine Global Investment Management LLC cut its holdings in Prudential Financial, Inc. (NYSE:PRU) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,676 shares of the financial services provider’s stock after selling 4,420 shares during the quarter. Brandywine Global Investment Management LLC owned 0.05% of Prudential Financial worth $19,519,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Proffitt & Goodson Inc. boosted its position in shares of Prudential Financial by 12.7% during the 2nd quarter. Proffitt & Goodson Inc. now owns 871 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 98 shares in the last quarter. SPC Financial Inc. boosted its holdings in Prudential Financial by 2.6% during the first quarter. SPC Financial Inc. now owns 3,973 shares of the financial services provider’s stock worth $444,000 after buying an additional 100 shares in the last quarter. Thrive Wealth Management LLC boosted its holdings in Prudential Financial by 2.6% during the second quarter. Thrive Wealth Management LLC now owns 4,007 shares of the financial services provider’s stock worth $430,000 after buying an additional 101 shares in the last quarter. Eagle Capital Management LLC grew its position in Prudential Financial by 0.3% during the second quarter. Eagle Capital Management LLC now owns 35,806 shares of the financial services provider’s stock worth $3,847,000 after buying an additional 108 shares during the period. Finally, TIAA Trust National Association lifted its position in shares of Prudential Financial by 2.7% during the 2nd quarter. TIAA Trust National Association now owns 4,142 shares of the financial services provider’s stock valued at $445,000 after acquiring an additional 108 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the topic of a number of research reports. Morgan Stanley upped their price target on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods boosted their target price on Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Barclays dropped their price target on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 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. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Prudential Financial in a report on Wednesday. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $120.73.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $106.83 on Friday. The company has a market cap of $37.39 billion, a P/E ratio of 14.67, a P/E/G ratio of 0.88 and a beta of 1.05. The business has a fifty day simple moving average of $103.49 and a 200-day simple moving average of $104.72. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) 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 for the quarter. Equities research analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Tuesday, November 18th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Tuesday, November 18th. Prudential Financial’s payout ratio is presently 74.18%.

Insider Buying and Selling

In other news, Chairman Charles F. Lowrey sold 48,164 shares of the company’s stock in a transaction 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 completion of the sale, the chairman directly owned 165,564 shares in the company, valued at $17,779,917.96. This represents a 22.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction on Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the completion of the transaction, the executive vice president owned 21,506 shares in the company, valued at $2,358,132.90. The trade was a 15.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.25% of the company’s stock.

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.