Teacher Retirement System of Texas Sells 18,989 Shares of Prudential Financial, Inc. (NYSE:PRU)

Teacher Retirement System of Texas trimmed its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 21.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,557 shares of the financial services provider's stock after selling 18,989 shares during the period. Teacher Retirement System of Texas' holdings in Prudential Financial were worth $7,656,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PRU. Opal Wealth Advisors LLC acquired a new stake in Prudential Financial during the 1st quarter valued at $30,000. Hopwood Financial Services Inc. acquired a new position in shares of Prudential Financial in the 4th quarter valued at $34,000. Lee Danner & Bass Inc. acquired a new position in shares of Prudential Financial in the 4th quarter valued at $35,000. TCTC Holdings LLC acquired a new position in shares of Prudential Financial in the 4th quarter valued at $37,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Prudential Financial during the 4th quarter worth $38,000. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Price Performance

Shares of PRU stock traded up $0.94 during trading on Friday, hitting $109.60. The company had a trading volume of 732,327 shares, compared to its average volume of 1,660,971. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a market capitalization of $38.80 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 1.04 and a beta of 1.07. The stock's 50-day moving average price is $104.87 and its 200 day moving average price is $109.26. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55.

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

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $5.40 annualized dividend and a dividend yield of 4.93%. Prudential Financial's dividend payout ratio (DPR) is presently 85.58%.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of Prudential Financial stock in a transaction that occurred on Monday, June 16th. The shares were bought at an average price of $28.64 per share, with a total value of $48,000,009.92. Following the completion of the purchase, the insider directly owned 3,168,461 shares in the company, valued at $90,744,723.04. This trade represents a 112.29% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PRU has been the topic of several recent research reports. Barclays dropped their price target on 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. Morgan Stanley lifted 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. Wells Fargo & Company lifted their price target on Prudential Financial from $108.00 to $113.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods dropped their price target on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. dropped their price target on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Two investment analysts have 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 company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price 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.