New York State Teachers Retirement System Has $34.51 Million Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

New York State Teachers Retirement System trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 3.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 308,996 shares of the financial services provider's stock after selling 12,442 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Prudential Financial worth $34,509,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Prudential Financial by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider's stock valued at $4,960,547,000 after buying an additional 220,671 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Prudential Financial by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 8,856,360 shares of the financial services provider's stock valued at $1,050,635,000 after acquiring an additional 193,681 shares during the period. Northern Trust Corp grew its holdings in shares of Prudential Financial by 23.7% during the 4th quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock worth $555,513,000 after purchasing an additional 897,916 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Prudential Financial by 11.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,410,363 shares of the financial services provider's stock worth $404,230,000 after purchasing an additional 352,335 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Prudential Financial by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,409,521 shares of the financial services provider's stock valued at $285,601,000 after purchasing an additional 26,210 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the company's stock in a transaction dated Monday, June 16th. The shares were purchased at an average price of $28.64 per share, for a total transaction of $48,000,009.92. Following the transaction, the insider owned 3,168,461 shares of the company's stock, valued at approximately $90,744,723.04. This trade represents a 112.29% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

PRU has been the topic of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Prudential Financial from $108.00 to $113.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Morgan Stanley lifted their target price on Prudential Financial from $108.00 to $117.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods lowered their target price on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a research note on Wednesday, May 7th. Barclays reduced their price target on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Finally, Wall Street Zen upgraded shares of Prudential Financial from a "sell" rating to a "hold" rating in a research report on Monday, June 16th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Prudential Financial currently has a consensus rating of "Hold" and an average target price of $120.15.

Prudential Financial Trading Down 0.3%

NYSE PRU traded down $0.33 on Wednesday, hitting $108.67. The company's stock had a trading volume of 1,552,853 shares, compared to its average volume of 1,655,363. The company's 50-day moving average is $104.48 and its 200 day moving average is $109.44. The firm has a market cap of $38.47 billion, a PE ratio of 17.22, a PEG ratio of 1.03 and a beta of 1.07. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.11. Prudential Financial had a return on equity of 15.84% and a net margin of 3.84%. The business had revenue of $13.61 billion during the quarter, compared to analyst estimates of $14.76 billion. During the same period last year, the company earned $3.12 EPS. Prudential Financial's revenue for the quarter was down 38.2% compared to the same quarter last year. As a group, analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, May 20th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend was Tuesday, May 20th. Prudential Financial's payout ratio is presently 85.58%.

Prudential Financial 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.