Korea Investment CORP trimmed its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 22.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 174,074 shares of the financial services provider's stock after selling 49,680 shares during the period. Korea Investment CORP owned about 0.05% of Prudential Financial worth $18,788,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in PRU. Jessup Wealth Management Inc bought a new position in Prudential Financial in the fourth quarter valued at about $25,000. Garton & Associates Financial Advisors LLC bought a new stake in Prudential Financial during the 4th quarter worth about $26,000. SJS Investment Consulting Inc. lifted its position in Prudential Financial by 93.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 134 shares during the period. Coston McIsaac & Partners lifted its position in Prudential Financial by 93.4% during the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 128 shares during the period. Finally, Basepoint Wealth LLC bought a new position in shares of Prudential Financial in the 4th quarter valued at about $30,000. 56.83% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Prudential Financial from $103.00 to $110.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 19th. TD Cowen raised their price objective on shares of Prudential Financial from $102.00 to $114.00 and gave the company a "hold" rating in a research note on Wednesday, July 22nd. Zacks Research raised shares of Prudential Financial from a "strong sell" rating to a "hold" rating in a report on Friday, June 12th. Mizuho upped their target price on shares of Prudential Financial from $101.00 to $109.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Finally, Barclays raised their price target on Prudential Financial from $90.00 to $92.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, Prudential Financial has an average rating of "Reduce" and a consensus target price of $108.31.
Get Our Latest Research Report on Prudential Financial
Prudential Financial Stock Performance
PRU stock opened at $121.21 on Monday. Prudential Financial, Inc. has a 1-year low of $91.89 and a 1-year high of $127.72. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.62. The firm has a market cap of $41.82 billion, a PE ratio of 10.98, a P/E/G ratio of 2.29 and a beta of 0.84. The business's 50-day moving average price is $116.66 and its two-hundred day moving average price is $105.67.
Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.56. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.36 billion. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.During the same period in the prior year, the company earned $3.58 earnings per share. As a group, research analysts forecast that Prudential Financial, Inc. will post 14.24 earnings per share for the current year.
Prudential Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, August 25th. Prudential Financial's dividend payout ratio is presently 50.72%.
Insider Activity at Prudential Financial
In other news, EVP Ann M. Kappler sold 7,652 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $125.01, for a total transaction of $956,576.52. Following the completion of the sale, the executive vice president owned 14,407 shares of the company's stock, valued at $1,801,019.07. This represents a 34.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the firm's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the sale, the insider owned 7,973,657 shares in the company, valued at approximately $197,348,010.75. The trade was a 2.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.05% of the company's stock.
About Prudential Financial
(
Free Report)
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.
Featured Stories
Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial, Inc. (NYSE:PRU - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Prudential Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Prudential Financial wasn't on the list.
While Prudential Financial currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of the 7 hottest IPOs expected to hit Wall Street in 2026. See which companies are preparing to go public and why investors are watching closely.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
