Public Employees Retirement System of Ohio Sells 10,724 Shares of Prudential Financial, Inc. (NYSE:PRU)

Public Employees Retirement System of Ohio decreased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 7.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 139,976 shares of the financial services provider's stock after selling 10,724 shares during the period. Public Employees Retirement System of Ohio's holdings in Prudential Financial were worth $16,591,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GTS Securities LLC lifted its holdings in shares of Prudential Financial by 116.9% in the fourth quarter. GTS Securities LLC now owns 3,438 shares of the financial services provider's stock valued at $408,000 after purchasing an additional 23,841 shares in the last quarter. Fourth Dimension Wealth LLC bought a new stake in Prudential Financial in the 4th quarter valued at approximately $43,000. Vise Technologies Inc. lifted its stake in Prudential Financial by 10.9% in the 4th quarter. Vise Technologies Inc. now owns 4,581 shares of the financial services provider's stock valued at $543,000 after purchasing an additional 451 shares during the last quarter. JT Stratford LLC acquired a new position in Prudential Financial during the fourth quarter worth approximately $201,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 valued at $404,230,000 after buying an additional 352,335 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Price Performance

Shares of PRU traded down $0.72 during trading hours on Friday, hitting $103.61. 512,519 shares of the company were exchanged, compared to its average volume of 1,629,444. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The firm's fifty day moving average is $103.69 and its 200 day moving average is $112.85. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The company has a market cap of $36.68 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 0.98 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, topping analysts' consensus estimates of $3.18 by $0.11. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The company had revenue of $13.61 billion during the quarter, compared to analysts' expectations of $14.76 billion. During the same quarter in the previous year, the firm earned $3.12 EPS. Prudential Financial's revenue was down 38.2% on a year-over-year basis. On average, equities analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 5.21%. The ex-dividend date is Tuesday, May 20th. Prudential Financial's dividend payout ratio (DPR) is presently 85.58%.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of Prudential Financial stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the purchase, the insider now directly owns 87,047 shares in the company, valued at approximately $2,499,989.84. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the sale, the executive vice president now owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. This represents a 18.14% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PRU. Morgan Stanley increased their price target on Prudential Financial from $108.00 to $117.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. UBS Group decreased their price target on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a research note on Tuesday. Keefe, Bruyette & Woods reduced their price objective on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a report on Wednesday, May 7th. Wells Fargo & Company increased their target price on Prudential Financial from $108.00 to $113.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Finally, Piper Sandler decreased their price objective on Prudential Financial from $110.00 to $109.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Prudential Financial has an average rating of "Hold" and a consensus price target of $120.15.

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.