New York State Common Retirement Fund Has $32.85 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

New York State Common Retirement Fund lessened its holdings in shares of Prudential Financial, Inc. (NYSE:PRUFree Report) by 13.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 346,221 shares of the financial services provider’s stock after selling 55,927 shares during the quarter. New York State Common Retirement Fund’s holdings in Prudential Financial were worth $32,853,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Fairfield Bush & CO. bought a new stake in Prudential Financial in the 1st quarter valued at $36,000. Blair William & Co. IL raised its position in shares of Prudential Financial by 11.3% in the first quarter. Blair William & Co. IL now owns 50,600 shares of the financial services provider’s stock valued at $5,979,000 after purchasing an additional 5,126 shares during the period. Sei Investments Co. lifted its stake in shares of Prudential Financial by 6.4% during the 1st quarter. Sei Investments Co. now owns 90,235 shares of the financial services provider’s stock worth $10,698,000 after buying an additional 5,452 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its holdings in shares of Prudential Financial by 0.7% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 47,576 shares of the financial services provider’s stock worth $5,621,000 after buying an additional 326 shares during the period. Finally, Baird Financial Group Inc. raised its holdings in Prudential Financial by 36.4% in the 1st quarter. Baird Financial Group Inc. now owns 135,716 shares of the financial services provider’s stock valued at $16,037,000 after acquiring an additional 36,184 shares during the period. Institutional investors own 54.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Raymond James boosted their price objective on Prudential Financial from $125.00 to $132.00 and gave the stock a “strong-buy” rating in a report on Thursday, December 7th. TheStreet downgraded Prudential Financial from a “b” rating to a “c” rating in a research note on Wednesday, November 1st. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $118.00 price objective (down previously from $119.00) on shares of Prudential Financial in a research report on Wednesday, January 3rd. UBS Group boosted their target price on shares of Prudential Financial from $97.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Finally, Morgan Stanley raised their price target on shares of Prudential Financial from $103.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $104.80.

Read Our Latest Analysis on PRU

Insider Buying and Selling at Prudential Financial

In other news, CFO Kenneth Tanji sold 23,124 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $105.14, for a total value of $2,431,257.36. Following the sale, the chief financial officer now directly owns 47,155 shares in the company, valued at approximately $4,957,876.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Kenneth Tanji sold 23,124 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $105.14, for a total transaction of $2,431,257.36. Following the completion of the transaction, the chief financial officer now directly owns 47,155 shares in the company, valued at $4,957,876.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Timothy L. Schmidt sold 8,281 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $94.49, for a total value of $782,471.69. Following the sale, the senior vice president now directly owns 14,621 shares in the company, valued at approximately $1,381,538.29. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Prudential Financial Stock Performance

NYSE PRU opened at $103.21 on Friday. The firm’s 50 day simple moving average is $102.58 and its 200 day simple moving average is $97.14. The firm has a market capitalization of $37.26 billion, a price-to-earnings ratio of 66.59, a P/E/G ratio of 0.73 and a beta of 1.37. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.70. Prudential Financial, Inc. has a 1 year low of $75.37 and a 1 year high of $107.31.

Prudential Financial (NYSE:PRUGet Free Report) last issued its earnings results on Wednesday, November 1st. The financial services provider reported $3.44 earnings per share for the quarter, beating analysts’ consensus estimates of $3.16 by $0.28. Prudential Financial had a return on equity of 16.03% and a net margin of 1.21%. The firm had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter last year, the business posted $2.13 EPS. As a group, research analysts expect that Prudential Financial, Inc. will post 11.69 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Tuesday, November 21st were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 4.84%. The ex-dividend date of this dividend was Monday, November 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 322.58%.

Prudential Financial Company Profile

(Free Report)

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 Annuities, Individual Life, Assurance IQ, and International Businesses segments.

Further Reading

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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