Teachers Retirement System of The State of Kentucky Cuts Stake in Prudential Financial, Inc. (NYSE:PRU)

Teachers Retirement System of The State of Kentucky lessened its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,800 shares of the financial services provider’s stock after selling 1,633 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Prudential Financial were worth $3,499,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Cambridge Trust Co. raised its position in shares of Prudential Financial by 77.2% in the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 105 shares during the period. Creekmur Asset Management LLC boosted its holdings in shares of Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 108 shares during the last quarter. Arlington Trust Co LLC increased its stake in shares of Prudential Financial by 151.6% in the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 185 shares during the last quarter. Crewe Advisors LLC purchased a new position in Prudential Financial during the first quarter worth about $33,000. Finally, ESL Trust Services LLC purchased a new position in Prudential Financial in the first quarter worth approximately $34,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PRU shares. Piper Sandler dropped their price objective on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Keefe, Bruyette & Woods raised their price objective on Prudential Financial from $118.00 to $121.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Citigroup upped their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. upped their price objective on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Finally, Wells Fargo & Company upped their price objective on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $116.92.

Prudential Financial Trading Down 10.0 %

Shares of NYSE PRU traded down $12.23 during mid-day trading on Friday, hitting $110.26. 5,436,589 shares of the company traded hands, compared to its average volume of 1,325,238. Prudential Financial, Inc. has a 1 year low of $87.95 and a 1 year high of $128.52. The business has a 50 day moving average of $119.53 and a two-hundred day moving average of $114.11. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $39.58 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 0.95 and a beta of 1.34.

Prudential Financial (NYSE:PRU) last issued its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.17%. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 13.38 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st were given a $1.30 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.72%. Prudential Financial’s dividend payout ratio is 88.44%.

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.