Sumitomo Mitsui Trust Group Inc. Reduces Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Sumitomo Mitsui Trust Group Inc. decreased its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 800,136 shares of the financial services provider's stock after selling 5,917 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Prudential Financial worth $89,359,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of PRU. Brighton Jones LLC raised its holdings in Prudential Financial by 3.7% during the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider's stock valued at $436,000 after acquiring an additional 133 shares during the period. Verus Capital Partners LLC bought a new stake in Prudential Financial during the 4th quarter valued at $202,000. Private Trust Co. NA raised its holdings in Prudential Financial by 7.7% during the 4th quarter. Private Trust Co. NA now owns 4,407 shares of the financial services provider's stock valued at $522,000 after acquiring an additional 315 shares during the period. SVB Wealth LLC bought a new stake in Prudential Financial during the 4th quarter valued at $1,351,000. Finally, Fisher Asset Management LLC raised its holdings in Prudential Financial by 52.7% during the 4th quarter. Fisher Asset Management LLC now owns 3,619 shares of the financial services provider's stock valued at $429,000 after acquiring an additional 1,249 shares during the period. Hedge funds and other institutional investors own 56.83% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of the stock in a transaction on Monday, June 16th. The stock was acquired at an average cost of $28.64 per share, for a total transaction of $48,000,009.92. Following the completion of the acquisition, the insider now directly owns 3,168,461 shares of the company's stock, valued at approximately $90,744,723.04. This represents a 112.29% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PRU has been the topic of several research analyst reports. Wells Fargo & Company upped their price target on shares of Prudential Financial from $108.00 to $113.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Keefe, Bruyette & Woods decreased their price target on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a report on Wednesday, May 7th. Morgan Stanley raised their price target 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. Barclays dropped their target price on Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Finally, UBS Group dropped their target price on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $120.15.

Prudential Financial Stock Performance

Prudential Financial stock opened at $107.07 on Monday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average of $104.09 and a 200-day moving average of $109.54. The firm has a market cap of $37.90 billion, a P/E ratio of 16.97, a P/E/G ratio of 1.02 and a beta of 1.07. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.95.

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

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th were issued a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $5.40 annualized dividend and a yield of 5.04%. Prudential Financial's dividend payout ratio (DPR) is presently 85.58%.

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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