6,555 Shares in Prudential Financial, Inc. $PRU Acquired by Live Oak Investment Partners

Live Oak Investment Partners purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,555 shares of the financial services provider’s stock, valued at approximately $622,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Prudential Financial by 1.4% in the second quarter. Vanguard Group Inc. now owns 42,502,160 shares of the financial services provider’s stock valued at $4,566,432,000 after buying an additional 600,482 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Prudential Financial by 1.8% during the second quarter. Geode Capital Management LLC now owns 9,402,393 shares of the financial services provider’s stock valued at $1,010,474,000 after purchasing an additional 163,874 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Prudential Financial by 1.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,408,942 shares of the financial services provider’s stock worth $258,817,000 after buying an additional 31,088 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Prudential Financial by 1.9% in the 3rd quarter. Nordea Investment Management AB now owns 1,752,952 shares of the financial services provider’s stock worth $180,344,000 after buying an additional 32,171 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Prudential Financial during the second quarter valued at approximately $122,778,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Down 1.1%

PRU opened at $116.42 on Friday. The business has a 50 day simple moving average of $111.98 and a 200-day simple moving average of $107.19. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market capitalization of $40.75 billion, a P/E ratio of 15.99, a P/E/G ratio of 0.94 and a beta of 0.97. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $123.88.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $4.26 earnings per share for the quarter, beating the consensus estimate of $3.72 by $0.54. The firm had revenue of $17.89 billion during the quarter, compared to the consensus estimate of $13.77 billion. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%.During the same period last year, the business posted $3.48 EPS. On average, equities analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th were paid a dividend of $1.35 per share. The ex-dividend date was Tuesday, November 18th. This represents a $5.40 annualized dividend and a yield of 4.6%. Prudential Financial’s dividend payout ratio is currently 74.18%.

Insider Transactions at Prudential Financial

In related news, SVP Timothy L. Schmidt sold 8,000 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $107.69, for a total transaction of $861,520.00. Following the completion of the sale, the senior vice president directly owned 11,535 shares of the company’s stock, valued at approximately $1,242,204.15. This represents a 40.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Caroline Feeney sold 6,555 shares of Prudential Financial stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $116.28, for a total value of $762,215.40. Following the sale, the executive vice president directly owned 22,523 shares in the company, valued at approximately $2,618,974.44. The trade was a 22.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 62,719 shares of company stock worth $6,796,067 in the last three months. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Mizuho began coverage on Prudential Financial in a report on Tuesday, December 16th. They issued a “neutral” rating and a $125.00 price objective on the stock. Barclays decreased their target price on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Morgan Stanley lifted their price objective on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Weiss Ratings upgraded Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Finally, Wells Fargo & Company increased their target price on shares of Prudential Financial from $113.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $118.80.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.