Strs Ohio Sells 11,013 Shares of Prudential Financial, Inc. $PRU

Strs Ohio trimmed its position in Prudential Financial, Inc. (NYSE:PRU) by 56.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 8,376 shares of the financial services provider’s stock after selling 11,013 shares during the period. Strs Ohio’s holdings in Prudential Financial were worth $818,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Prudential Financial by 3.7% during the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock worth $436,000 after acquiring an additional 133 shares during the last quarter. Empowered Funds LLC increased its position in shares of Prudential Financial by 30.5% during the first quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock worth $1,976,000 after buying an additional 4,134 shares during the period. Brown Advisory Inc. lifted its holdings in Prudential Financial by 3.5% in the second quarter. Brown Advisory Inc. now owns 4,164 shares of the financial services provider’s stock valued at $447,000 after buying an additional 140 shares during the period. AXA S.A. grew its holdings in Prudential Financial by 25.8% during the 2nd quarter. AXA S.A. now owns 56,700 shares of the financial services provider’s stock worth $6,092,000 after acquiring an additional 11,630 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of Prudential Financial by 15.1% in the 2nd quarter. NewEdge Advisors LLC now owns 37,277 shares of the financial services provider’s stock valued at $4,005,000 after purchasing an additional 4,895 shares during the period. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Down 2.4%

Shares of PRU stock opened at $112.74 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market capitalization of $39.12 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 2.10 and a beta of 0.85. Prudential Financial, Inc. has a 52-week low of $91.89 and a 52-week high of $119.76. The company has a 50-day simple moving average of $104.84 and a two-hundred day simple moving average of $104.02.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. The firm had revenue of $15.23 billion for the quarter, compared to the consensus estimate of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same quarter in the previous year, the business earned $3.29 EPS. Research analysts anticipate that Prudential Financial, Inc. will post 13.81 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $5.60 annualized dividend and a dividend yield of 5.0%. Prudential Financial’s dividend payout ratio (DPR) is currently 57.61%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PRU shares. Morgan Stanley restated an “underweight” rating and set a $92.00 price target (down from $106.00) on shares of Prudential Financial in a report on Monday, May 4th. Argus downgraded Prudential Financial from a “buy” rating to a “hold” rating in a report on Tuesday, June 9th. Keefe, Bruyette & Woods upped their target price on Prudential Financial from $100.00 to $106.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Bank of America reduced their price target on shares of Prudential Financial from $112.00 to $104.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. Finally, Jefferies Financial Group lowered shares of Prudential Financial from a “buy” rating to a “hold” rating and decreased their price target for the company from $124.00 to $98.00 in a research note on Wednesday, April 22nd. Eleven analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Prudential Financial has a consensus rating of “Reduce” and a consensus target price of $102.08.

About Prudential Financial

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.