Prudential Financial, Inc. $PRU Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp decreased its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 160,319 shares of the financial services provider’s stock after selling 3,786 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Prudential Financial were worth $17,225,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in PRU. Meeder Asset Management Inc. raised its holdings in Prudential Financial by 90.2% during the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 111 shares in the last quarter. AlphaQuest LLC increased its position in shares of Prudential Financial by 12,250.0% during the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 245 shares during the period. Cheviot Value Management LLC bought a new stake in shares of Prudential Financial in the 1st quarter worth $26,000. Clearstead Trust LLC lifted its holdings in shares of Prudential Financial by 350.8% in the first quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock valued at $30,000 after buying an additional 207 shares during the period. Finally, N.E.W. Advisory Services LLC bought a new position in Prudential Financial during the first quarter valued at about $45,000. 56.83% of the stock is owned by institutional investors and hedge funds.

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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Tuesday, November 18th will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Tuesday, November 18th. Prudential Financial’s dividend payout ratio is currently 74.18%.

Insider Activity

In other Prudential Financial news, Chairman Charles F. Lowrey sold 48,164 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $107.39, for a total value of $5,172,331.96. Following the transaction, the chairman owned 165,564 shares in the company, valued at approximately $17,779,917.96. This represents a 22.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the sale, the executive vice president owned 21,506 shares of the company’s stock, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PRU. Morgan Stanley boosted their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Evercore ISI boosted their target price on shares of Prudential Financial from $120.00 to $122.00 and gave the stock an “in-line” rating in a report on Thursday, October 30th. Keefe, Bruyette & Woods raised their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a report on Monday, November 3rd. Wall Street Zen raised Prudential Financial from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Prudential Financial in a research note on Thursday. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.