American Century Companies Inc. Trims Position in Prudential Financial, Inc. $PRU

Key Points

• American Century Companies trimmed its stake in Prudential Financial by 22.1%, selling 147,311 shares and retaining 518,697 shares (about 0.15% of the company) valued at roughly $53.8 million at quarter-end.
• Prudential raised its quarterly dividend to $1.40 (annualized $5.60), implying a 5.6% yield with an ex-dividend date of Feb. 17 and a dividend payout ratio of 56%.
• Insiders and analysts: Insurance Co. of America Prudential bought 1.406 million shares (insiders bought ~1.408 million shares worth $35.15M total), while the stock has a consensus analyst rating of "Hold" with a $115 target after recent mixed earnings (Q EPS $3.30 missed, revenue beat $15.69B).

American Century Companies Inc. lowered its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 22.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 518,697 shares of the financial services provider's stock after selling 147,311 shares during the quarter. American Century Companies Inc. owned about 0.15% of Prudential Financial worth $53,810,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PRU. Summit Global Investments grew its holdings in shares of Prudential Financial by 71.1% in the third quarter. Summit Global Investments now owns 13,021 shares of the financial services provider's stock valued at $1,351,000 after purchasing an additional 5,412 shares in the last quarter. Machina Capital S.A.S. acquired a new stake in Prudential Financial during the 3rd quarter worth approximately $1,285,000. Mattson Financial Services LLC boosted its position in Prudential Financial by 312.8% in the 3rd quarter. Mattson Financial Services LLC now owns 12,119 shares of the financial services provider's stock valued at $1,257,000 after buying an additional 9,183 shares during the period. First Horizon Corp acquired a new position in shares of Prudential Financial in the third quarter worth $5,856,000. Finally, Varma Mutual Pension Insurance Co increased its position in shares of Prudential Financial by 22.0% during the third quarter. Varma Mutual Pension Insurance Co now owns 108,839 shares of the financial services provider's stock worth $11,291,000 after acquiring an additional 19,600 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Up 0.3%

Prudential Financial stock opened at $99.13 on Friday. The company has a market capitalization of $34.50 billion, a P/E ratio of 9.91, a PEG ratio of 1.14 and a beta of 0.98. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $119.76. The stock has a 50-day simple moving average of $108.02 and a 200-day simple moving average of $107.14.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 EPS for the quarter, missing the consensus estimate of $3.37 by ($0.07). The firm had revenue of $15.69 billion for the quarter, compared to analyst estimates of $14.48 billion. Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.During the same period last year, the firm earned $2.96 EPS. Equities research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Tuesday, February 17th will be paid a dividend of $1.40 per share. The ex-dividend date is Tuesday, February 17th. This represents a $5.60 dividend on an annualized basis and a yield of 5.6%. This is an increase from Prudential Financial's previous quarterly dividend of $1.35. Prudential Financial's dividend payout ratio (DPR) is currently 56.00%.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 1,406,739 shares of Prudential Financial stock in a transaction dated Friday, January 23rd. The stock was acquired at an average cost of $24.87 per share, with a total value of $34,985,598.93. Following the completion of the acquisition, the insider owned 7,709,624 shares of the company's stock, valued at approximately $191,738,348.88. This represents a 22.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph J. Wolk purchased 400 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were bought at an average cost of $105.32 per share, for a total transaction of $42,128.00. Following the acquisition, the director owned 400 shares of the company's stock, valued at approximately $42,128. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 1,408,389 shares of company stock worth $35,154,439 in the last three months. Company insiders own 0.25% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PRU. JPMorgan Chase & Co. decreased their target price on Prudential Financial from $133.00 to $127.00 and set a "neutral" rating for the company in a report on Wednesday, February 4th. UBS Group increased their price target on Prudential Financial from $111.00 to $116.00 and gave the company a "neutral" rating in a research report on Thursday, January 8th. Weiss Ratings raised Prudential Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, January 12th. Wells Fargo & Company lowered shares of Prudential Financial from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $115.00 to $103.00 in a research note on Wednesday, February 25th. Finally, Mizuho reduced their target price on shares of Prudential Financial from $126.00 to $113.00 and set a "neutral" rating on the stock in a report on Tuesday, February 10th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Prudential Financial has a consensus rating of "Hold" and a consensus target price of $115.00.

Prudential Financial Company Profile

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.

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