Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,696 shares of the financial services provider’s stock after selling 2,019 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Prudential Financial were worth $8,972,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Savant Capital LLC lifted its position in Prudential Financial by 0.6% during the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock valued at $1,705,000 after purchasing an additional 83 shares during the period. Grove Bank & Trust lifted its position in Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares during the period. HBK Sorce Advisory LLC lifted its position in Prudential Financial by 1.0% during the fourth quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider’s stock valued at $1,116,000 after purchasing an additional 91 shares during the period. Asset Dedication LLC lifted its position in Prudential Financial by 28.4% during the fourth quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 93 shares during the period. Finally, RNC Capital Management LLC lifted its position in Prudential Financial by 3.3% during the fourth quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider’s stock valued at $354,000 after purchasing an additional 95 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Stock Down 0.4 %

PRU stock opened at $110.35 on Friday. The stock has a market capitalization of $39.51 billion, a P/E ratio of 14.77, a P/E/G ratio of 0.98 and a beta of 1.28. The firm has a 50-day simple moving average of $113.57 and a 200-day simple moving average of $119.05. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 52 week low of $104.45 and a 52 week high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Equities analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.89%. The ex-dividend date was Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio is currently 72.29%.

Analyst Ratings Changes

A number of research analysts recently issued reports on PRU shares. Jefferies Financial Group boosted their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. TD Cowen lifted their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Morgan Stanley cut their price objective on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Finally, BMO Capital Markets began coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $126.15.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were bought at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the acquisition, the insider now directly owns 87,047 shares of the company’s stock, valued at $2,499,989.84. This trade represents a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the transaction, the executive vice president now owns 27,072 shares in the company, valued at $2,869,090.56. The trade was a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

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.