New York State Teachers Retirement System Lowers Stock Holdings in Prudential Financial, Inc. $PRU

Key Points

• The New York State Teachers Retirement System has reduced its holdings in Prudential Financial by 6.3% in the second quarter, now owning 289,450 shares valued at approximately $31.1 million.
• Institutional investors collectively own 56.83% of Prudential's stock, with several firms increasing their positions during the same quarter.
• Prudential Financial has received mixed analyst ratings, with a consensus of Hold and a target price of $122.27, indicating mixed sentiments towards the stock's future performance.

New York State Teachers Retirement System lowered its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 6.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 289,450 shares of the financial services provider's stock after selling 19,546 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Prudential Financial worth $31,099,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PRU. Capital Management Corp VA raised its stake in Prudential Financial by 5.5% during the second quarter. Capital Management Corp VA now owns 83,876 shares of the financial services provider's stock worth $9,012,000 after purchasing an additional 4,370 shares during the period. Mutual Advisors LLC grew its position in Prudential Financial by 5.2% during the second quarter. Mutual Advisors LLC now owns 18,244 shares of the financial services provider's stock valued at $1,919,000 after acquiring an additional 896 shares during the period. Generali Asset Management SPA SGR raised its holdings in shares of Prudential Financial by 36.3% in the 2nd quarter. Generali Asset Management SPA SGR now owns 27,798 shares of the financial services provider's stock worth $2,987,000 after purchasing an additional 7,402 shares during the period. Disciplined Equity Management Inc. grew its holdings in shares of Prudential Financial by 19.8% during the 2nd quarter. Disciplined Equity Management Inc. now owns 19,678 shares of the financial services provider's stock worth $2,114,000 after purchasing an additional 3,258 shares during the period. Finally, Harbour Investments Inc. increased its position in Prudential Financial by 36.5% during the 2nd quarter. Harbour Investments Inc. now owns 9,265 shares of the financial services provider's stock worth $1,010,000 after purchasing an additional 2,478 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Analyst Ratings Changes

PRU has been the subject of several research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Prudential Financial in a research note on Wednesday, October 8th. Wolfe Research initiated coverage on Prudential Financial in a report on Tuesday, September 16th. They issued a "peer perform" rating for the company. Barclays decreased their target price on Prudential Financial from $120.00 to $117.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 8th. Morgan Stanley raised their target price on Prudential Financial from $117.00 to $118.00 and gave the company an "equal weight" rating in a report on Tuesday, October 7th. Finally, Wall Street Zen upgraded Prudential Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Prudential Financial has a consensus rating of "Hold" and a consensus price target of $122.27.

Prudential Financial Trading Up 0.9%

Shares of PRU opened at $100.76 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The stock has a 50-day moving average price of $105.06 and a 200 day moving average price of $104.17. The company has a market capitalization of $35.47 billion, a P/E ratio of 22.34, a P/E/G ratio of 0.88 and a beta of 1.04.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. The company had revenue of $8.35 billion for the quarter. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%. Sell-side analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Tuesday, August 19th. Prudential Financial's dividend payout ratio is 119.73%.

Insider Activity at Prudential Financial

In related news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $109.65, for a total value of $438,600.00. Following the completion of the transaction, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. This trade represents a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.25% of the company's stock.

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.

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