Prudential Financial, Inc. $PRU Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co decreased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 27.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 32,010 shares of the financial services provider’s stock after selling 12,019 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Prudential Financial were worth $3,439,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Meeder Asset Management Inc. raised its holdings in shares of Prudential Financial by 90.2% during the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 111 shares during the last quarter. Cheviot Value Management LLC purchased a new position in shares of Prudential Financial during the 1st quarter worth $26,000. AlphaQuest LLC raised 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 worth $28,000 after purchasing an additional 245 shares during the period. Clearstead Trust LLC lifted its holdings in 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 acquiring an additional 207 shares during the last quarter. Finally, AlphaCore Capital LLC acquired a new position in shares of Prudential Financial in the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Performance

PRU opened at $108.02 on Thursday. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The stock has a market cap of $37.81 billion, a P/E ratio of 14.84, a P/E/G ratio of 0.88 and a beta of 1.05. The stock’s 50 day simple moving average is $103.75 and its 200 day simple moving average is $104.85. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16.

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

Prudential Financial Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have recently commented on PRU. Barclays decreased their price objective on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Wall Street Zen upgraded Prudential Financial from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Wolfe Research assumed coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They set a “peer perform” rating for the company. Evercore ISI upped their price target on Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a report on Thursday, October 30th. Finally, Morgan Stanley upped their target price on Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $119.50.

Insider Buying and Selling at Prudential Financial

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