Glenmede Trust Co. NA Boosts Holdings in Prudential Financial, Inc. (NYSE:PRU)

Glenmede Trust Co. NA boosted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,968 shares of the financial services provider’s stock after acquiring an additional 1,234 shares during the period. Glenmede Trust Co. NA’s holdings in Prudential Financial were worth $2,176,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. First Horizon Advisors Inc. raised its holdings in shares of Prudential Financial by 4.3% in the third quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider’s stock worth $19,701,000 after buying an additional 6,641 shares during the last quarter. ORG Partners LLC purchased a new position in shares of Prudential Financial in the second quarter worth $156,000. PGGM Investments raised its holdings in shares of Prudential Financial by 98.0% in the second quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock worth $7,533,000 after buying an additional 31,807 shares during the last quarter. Deerfield Management Company L.P. Series C purchased a new position in shares of Prudential Financial in the second quarter worth $530,000. Finally, Swedbank AB increased its stake in shares of Prudential Financial by 4.2% in the third quarter. Swedbank AB now owns 311,700 shares of the financial services provider’s stock worth $37,747,000 after acquiring an additional 12,468 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Barclays increased their price objective on shares of Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. TD Cowen increased their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Bank of America increased their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their price target for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Eleven analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and an average price target of $125.92.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the purchase, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Prudential Financial Stock Down 0.1 %

Shares of NYSE PRU opened at $129.41 on Monday. The company’s 50-day simple moving average is $124.24 and its 200-day simple moving average is $120.12. Prudential Financial, Inc. has a 52-week low of $96.45 and a 52-week high of $130.55. The firm has a market cap of $46.07 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 0.93 and a beta of 1.29. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The business had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter last year, the business earned $3.44 earnings per share. Equities analysts predict that Prudential Financial, Inc. will post 13.35 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s dividend payout ratio is currently 46.22%.

About Prudential Financial

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.