Prudential Financial, Inc. $PRU Stock Holdings Lessened by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management cut its Prudential Financial stake by 17.4% in the third quarter, selling 11,674 shares and retaining 55,492 shares valued at approximately $6.3 million. Institutional investors and hedge funds collectively own 56.83% of PRU.
• Prudential agreed to sell its Brazil and Mexico insurance operations to CNP Assurances for approximately $4.025 billion in cash, while also partnering with SoFi to expand digital access to life insurance.
• Analyst sentiment remains cautious: PRU carries an average “Reduce” rating and an average price target of $107.15, below its reported share price of $114.80. The company recently declared a quarterly dividend of $1.40 per share, representing a 4.9% annualized yield.

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 17.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 55,492 shares of the financial services provider's stock after selling 11,674 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Prudential Financial were worth $6,303,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Archer Investment Corp acquired a new position in Prudential Financial in the second quarter worth about $26,000. SJS Investment Consulting Inc. lifted its stake in Prudential Financial by 93.1% during the first quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider's stock worth $27,000 after purchasing an additional 134 shares during the period. EFG International AG boosted its holdings in Prudential Financial by 452.2% during the second quarter. EFG International AG now owns 381 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 312 shares in the last quarter. Wellington Shields Capital Management LLC acquired a new stake in Prudential Financial during the second quarter valued at approximately $43,000. Finally, Keating Financial Advisory Services Inc. grew its stake in shares of Prudential Financial by 34.8% in the 2nd quarter. Keating Financial Advisory Services Inc. now owns 395 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 102 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Prudential Financial

Here are the key news stories impacting Prudential Financial this week:

• Positive Sentiment: Prudential agreed to sell its Brazil and Mexico insurance operations to CNP Assurances for approximately $4.025 billion in cash. The transaction could provide substantial capital, simplify Prudential’s international footprint and sharpen its focus on core businesses. The deal is subject to closing adjustments and customary conditions. Prudential Financial Agrees to Sell Operations in Brazil and Mexico
• Positive Sentiment: Prudential partnered with SoFi to expand access to life insurance. The relationship may broaden Prudential’s digital distribution and customer reach, although the financial contribution was not disclosed. SoFi ties up with Prudential Financial for expanded access to life insurance
• Neutral Sentiment: Prudential Wealth Advisors plans to increase recruiting through a centralized operating model. The initiative could support longer-term growth, but its near-term effect on earnings is uncertain. Prudential Wealth Advisors set to ramp up recruiting
• Neutral Sentiment: Prudential Life Insurance Ghana launched PRUConnect, a customer-facing digital insurance platform. The product supports engagement and service improvements, but appears unlikely to materially affect consolidated results immediately. Prudential Life Insurance Ghana introduces PRUConnect
• Negative Sentiment: Analysts lowered their expectations for PRU. TD Cowen cut its price target from $114 to $112 and maintained a “hold” rating. Barclays and Morgan Stanley also reduced their price targets, reinforcing concerns about limited near-term upside. Barclays lowers expectations for Prudential Financial Morgan Stanley cuts Prudential Financial price target

Prudential Financial Price Performance

Shares of Prudential Financial stock opened at $114.80 on Thursday. 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 stock has a market capitalization of $39.61 billion, a price-to-earnings ratio of 10.40, a P/E/G ratio of 1.73 and a beta of 0.85. Prudential Financial, Inc. has a 1-year low of $91.89 and a 1-year high of $127.72. The firm's 50-day moving average price is $117.98 and its two-hundred day moving average price is $111.25.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.52 by $0.56. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. The company had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.36 billion. During the same quarter last year, the business posted $3.58 earnings per share. On average, equities analysts predict that Prudential Financial, Inc. will post 14.37 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were given a dividend of $1.40 per share. The ex-dividend date was Tuesday, August 25th. This represents a $5.60 dividend on an annualized basis and a yield of 4.9%. Prudential Financial's dividend payout ratio is 50.72%.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the business's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total value of $5,314,963.50. Following the transaction, the insider owned 7,973,657 shares of the company's stock, valued at approximately $197,348,010.75. The trade was a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ann M. Kappler sold 7,652 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $125.01, for a total value of $956,576.52. Following the sale, the executive vice president owned 14,407 shares in the company, valued at $1,801,019.07. The trade was a 34.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PRU. Wells Fargo & Company dropped their target price on Prudential Financial from $110.00 to $104.00 and set an "underweight" rating for the company in a report on Monday, October 12th. Jefferies Financial Group raised their target price on Prudential Financial from $105.00 to $110.00 and gave the stock a "hold" rating in a research report on Friday, July 10th. Weiss Ratings cut Prudential Financial from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, October 14th. Barclays dropped their price objective on Prudential Financial from $96.00 to $94.00 and set an "underweight" rating for the company in a research note on Monday. Finally, Wall Street Zen cut Prudential Financial from a "buy" rating to a "hold" rating in a report on Monday, September 28th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Reduce" and an average price target of $107.15.

Prudential Financial Profile

Prudential Financial, Inc NYSE: PRU is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in Newark, New Jersey, in 1875, the company serves individuals, businesses and institutional investors through a range of businesses and distribution channels.

In the United States, Prudential offers life insurance, annuities, retirement plans and employee benefits, including group life, disability and dental insurance.

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