Public Employees Retirement Association of Colorado Cuts Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Public Employees Retirement Association of Colorado lessened its stake in Prudential Financial, Inc. (NYSE:PRU) by 4.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 51,105 shares of the financial services provider’s stock after selling 2,569 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Prudential Financial were worth $6,000,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Peoples Bank OH grew its holdings in shares of Prudential Financial by 2.3% during the first quarter. Peoples Bank OH now owns 4,046 shares of the financial services provider’s stock worth $475,000 after buying an additional 90 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Prudential Financial by 1.3% during the first quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider’s stock worth $875,000 after buying an additional 94 shares in the last quarter. Bruce G. Allen Investments LLC grew its holdings in shares of Prudential Financial by 38.6% during the first quarter. Bruce G. Allen Investments LLC now owns 352 shares of the financial services provider’s stock worth $41,000 after buying an additional 98 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in shares of Prudential Financial by 2.0% during the first quarter. Checchi Capital Advisers LLC now owns 4,932 shares of the financial services provider’s stock worth $579,000 after buying an additional 99 shares in the last quarter. Finally, McIlrath & Eck LLC grew its holdings in shares of Prudential Financial by 18.0% during the fourth quarter. McIlrath & Eck LLC now owns 670 shares of the financial services provider’s stock worth $69,000 after buying an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Up 0.2 %

Shares of PRU traded up $0.28 during midday trading on Monday, hitting $124.42. 472,705 shares of the stock were exchanged, compared to its average volume of 1,441,533. Prudential Financial, Inc. has a 52-week low of $87.95 and a 52-week high of $128.52. The stock has a fifty day simple moving average of $119.20 and a 200 day simple moving average of $113.53. The firm has a market cap of $44.67 billion, a P/E ratio of 21.09, a P/E/G ratio of 0.96 and a beta of 1.34. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). The company had revenue of $15.01 billion during 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 company’s revenue for the quarter was up 69.9% on a year-over-year basis. During the same quarter last year, the business posted $2.66 earnings per share. On average, research analysts anticipate that Prudential Financial, Inc. will post 13.38 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Tuesday, May 21st were issued a $1.30 dividend. The ex-dividend date was Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.18%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the completion of the sale, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was bought at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the acquisition, the insider now directly owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $118.57, for a total value of $15,425,008.44. Following the sale, the executive vice president now owns 202,083 shares in the company, valued at approximately $23,960,981.31. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research report on Thursday, April 11th. Morgan Stanley lifted their price target on shares of Prudential Financial from $120.00 to $123.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 10th. Citigroup increased their price objective on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Piper Sandler cut their target price 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. Finally, JPMorgan Chase & Co. raised their target price on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $116.92.

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.