Dimensional Fund Advisors LP Reduces Position in Prudential Financial, Inc. (NYSE:PRU)

Dimensional Fund Advisors LP reduced its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.4% in the second quarter, Holdings Channel.com reports. The fund owned 4,206,350 shares of the financial services provider’s stock after selling 15,376 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Prudential Financial were worth $492,955,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PRU. Creekmur Asset Management LLC boosted its stake in shares of Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares during the period. Lynx Investment Advisory bought a new stake in shares of Prudential Financial during the second quarter valued at approximately $29,000. Strategic Financial Concepts LLC grew its stake in Prudential Financial by 1,312.4% in the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 25,027 shares in the last quarter. Crewe Advisors LLC purchased a new position in Prudential Financial during the 1st quarter worth $33,000. Finally, ESL Trust Services LLC purchased a new stake in shares of Prudential Financial in the 1st quarter worth $34,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Up 0.4 %

Shares of Prudential Financial stock opened at $116.26 on Monday. The firm has a fifty day moving average price of $117.88 and a 200 day moving average price of $115.99. The stock has a market cap of $41.74 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 0.89 and a beta of 1.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial, Inc. has a 1 year low of $87.95 and a 1 year high of $128.52.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The company had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Equities research analysts predict that Prudential Financial, Inc. will post 13.31 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were paid a $1.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.47%. Prudential Financial’s dividend payout ratio is presently 88.44%.

Insider Buying and Selling at Prudential Financial

In other news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the business’s 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 directly owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The disclosure for this purchase can be found here. 0.31% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PRU. JPMorgan Chase & Co. raised their target price on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Barclays assumed coverage on Prudential Financial in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 price target for the company. Citigroup boosted their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Morgan Stanley decreased their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Finally, Argus raised Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $120.83.

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.