Osaic Holdings Inc. Sells 34,051 Shares of Prudential Financial, Inc. (NYSE:PRU)

Osaic Holdings Inc. decreased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 17.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 166,088 shares of the financial services provider’s stock after selling 34,051 shares during the quarter. Osaic Holdings Inc.’s holdings in Prudential Financial were worth $19,507,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PRU. TIAA Trust National Association boosted its holdings in shares of Prudential Financial by 36.4% in the first quarter. TIAA Trust National Association now owns 4,550 shares of the financial services provider’s stock valued at $534,000 after purchasing an additional 1,213 shares during the period. Spirepoint Private Client LLC purchased a new stake in shares of Prudential Financial in the first quarter valued at approximately $245,000. Intech Investment Management LLC boosted its holdings in shares of Prudential Financial by 8.4% in the first quarter. Intech Investment Management LLC now owns 10,289 shares of the financial services provider’s stock valued at $1,208,000 after purchasing an additional 796 shares during the period. M&G Plc purchased a new stake in shares of Prudential Financial in the first quarter valued at approximately $8,515,000. Finally, Banco Santander S.A. purchased a new stake in shares of Prudential Financial in the first quarter valued at approximately $555,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of NYSE PRU traded up $0.85 during mid-day trading on Monday, hitting $124.61. The stock had a trading volume of 1,212,145 shares, compared to its average volume of 1,457,387. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. The company has a 50 day moving average of $118.76 and a two-hundred day moving average of $112.82. Prudential Financial, Inc. has a twelve month low of $87.95 and a twelve month high of $128.52. The firm has a market cap of $44.73 billion, a PE ratio of 21.15, a PEG ratio of 0.95 and a beta of 1.34.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). The company had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The business’s quarterly revenue was up 69.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.66 EPS. Research analysts predict that Prudential Financial, Inc. will post 13.38 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were paid a dividend of $1.30 per share. The ex-dividend date was Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.17%. Prudential Financial’s payout ratio is currently 88.44%.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total transaction of $604,933.62. Following the completion of the transaction, the senior vice president now owns 12,236 shares in the company, valued at approximately $1,426,472.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were purchased at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the transaction, the insider now directly owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Timothy L. Schmidt sold 5,189 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total value of $604,933.62. Following the sale, the senior vice president now owns 12,236 shares in the company, valued at $1,426,472.88. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

PRU has been the subject of a number of analyst reports. Morgan Stanley upped their target price on Prudential Financial from $120.00 to $123.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Evercore ISI upped their target price on Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a report on Thursday, April 25th. Wells Fargo & Company upped their price target on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods upped their price target on Prudential Financial from $118.00 to $121.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. upped their price target on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $116.67.

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.