Public Employees Retirement System of Ohio Sells 13,107 Shares of Prudential Financial, Inc. (NYSE:PRU)

Public Employees Retirement System of Ohio lowered its holdings in Prudential Financial, Inc. (NYSE:PRU) by 8.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 139,037 shares of the financial services provider’s stock after selling 13,107 shares during the period. Public Employees Retirement System of Ohio’s holdings in Prudential Financial were worth $16,323,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. raised its position in shares of Prudential Financial by 4.4% in the 4th quarter. Pacer Advisors Inc. now owns 24,243 shares of the financial services provider’s stock valued at $2,514,000 after buying an additional 1,027 shares in the last quarter. SeaCrest Wealth Management LLC raised its position in shares of Prudential Financial by 4.7% in the 4th quarter. SeaCrest Wealth Management LLC now owns 5,528 shares of the financial services provider’s stock valued at $577,000 after buying an additional 247 shares in the last quarter. Blue Trust Inc. raised its position in shares of Prudential Financial by 20.8% in the 4th quarter. Blue Trust Inc. now owns 2,633 shares of the financial services provider’s stock valued at $249,000 after buying an additional 453 shares in the last quarter. Caprock Group LLC raised its position in shares of Prudential Financial by 8.6% in the 4th quarter. Caprock Group LLC now owns 8,313 shares of the financial services provider’s stock valued at $862,000 after buying an additional 655 shares in the last quarter. Finally, Quent Capital LLC raised its position in shares of Prudential Financial by 5.8% in the 4th quarter. Quent Capital LLC now owns 3,138 shares of the financial services provider’s stock valued at $325,000 after buying an additional 172 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PRU shares. Citigroup boosted their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group dropped their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Piper Sandler lowered their price objective on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Evercore ISI upped their price objective on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research report on Thursday, April 25th. Finally, Morgan Stanley upped their price objective on shares of Prudential Financial from $120.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Prudential Financial has an average rating of “Hold” and an average target price of $116.92.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of Prudential Financial stock in a transaction dated Thursday, June 20th. The shares were bought at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the purchase, the insider now owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were 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 $107,065,062.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Falzon sold 130,092 shares of the stock in a transaction on 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 transaction, the executive vice president now directly owns 202,083 shares in the company, valued at $23,960,981.31. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Prudential Financial Trading Up 1.2 %

Shares of NYSE PRU opened at $125.80 on Tuesday. 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, Inc. has a 52-week low of $87.95 and a 52-week high of $128.52. The firm has a 50 day moving average price of $119.33 and a two-hundred day moving average price of $113.68. The stock has a market cap of $45.16 billion, a P/E ratio of 21.15, a price-to-earnings-growth ratio of 0.96 and a beta of 1.34.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The firm had revenue of $15.01 billion during the quarter, compared to the consensus estimate of $14.50 billion. During the same period in the prior year, the company posted $2.66 earnings per share. The company’s revenue for the quarter was up 69.9% compared to the same quarter last year. As a group, equities analysts forecast that Prudential Financial, Inc. will post 13.38 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date was Monday, May 20th. Prudential Financial’s dividend payout ratio is currently 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.