Mizuho Securities USA LLC Has $2.80 Million Stake in Prudential Financial, Inc. (NYSE:PRU)

Mizuho Securities USA LLC lowered its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 16.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,150 shares of the financial services provider’s stock after selling 4,531 shares during the period. Mizuho Securities USA LLC’s holdings in Prudential Financial were worth $2,803,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PRU. International Assets Investment Management LLC increased its position in Prudential Financial by 4,130.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock worth $157,219,000 after buying an additional 1,267,571 shares during the period. AQR Capital Management LLC boosted its holdings in Prudential Financial by 97.4% in the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock valued at $84,874,000 after purchasing an additional 357,300 shares during the period. Swedbank AB acquired a new position in shares of Prudential Financial during the 1st quarter worth approximately $35,855,000. Legal & General Group Plc increased its holdings in shares of Prudential Financial by 9.4% during the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock worth $415,134,000 after purchasing an additional 305,143 shares during the period. Finally, Capital Advisors Inc. OK acquired a new stake in Prudential Financial during the third quarter worth approximately $30,226,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the stock in a transaction on Tuesday, October 8th. The shares were acquired at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the transaction, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. The trade was a 6.61 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This represents a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a report on Wednesday, August 21st. Wells Fargo & Company increased their price objective on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Argus raised shares of Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and raised their price objective for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Finally, Barclays upped their target price on Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Eleven research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $125.69.

Prudential Financial Trading Up 1.3 %

NYSE PRU opened at $127.92 on Friday. Prudential Financial, Inc. has a one year low of $94.92 and a one year high of $129.13. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The business has a 50 day simple moving average of $123.30 and a 200 day simple moving average of $119.70. The stock has a market capitalization of $45.54 billion, a P/E ratio of 11.37, a P/E/G ratio of 0.90 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The business had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period in the previous year, the company posted $3.44 EPS. Research analysts expect that Prudential Financial, Inc. will post 13.33 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Prudential Financial 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.