Cornerstone Planning Group LLC Lowers Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Cornerstone Planning Group LLC decreased its stake in shares of Prudential Financial, Inc. (NYSE:PRUFree Report) by 23.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 573 shares of the financial services provider’s stock after selling 178 shares during the quarter. Cornerstone Planning Group LLC’s holdings in Prudential Financial were worth $54,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its holdings in Prudential Financial by 0.3% during the second quarter. State Street Corp now owns 16,603,253 shares of the financial services provider’s stock worth $1,464,739,000 after buying an additional 46,547 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Prudential Financial by 1.4% during the second quarter. Geode Capital Management LLC now owns 7,721,677 shares of the financial services provider’s stock worth $679,412,000 after buying an additional 107,893 shares in the last quarter. Morgan Stanley boosted its holdings in Prudential Financial by 6.7% during the fourth quarter. Morgan Stanley now owns 6,589,363 shares of the financial services provider’s stock worth $655,378,000 after buying an additional 413,421 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Prudential Financial by 6.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,353,887 shares of the financial services provider’s stock worth $750,839,000 after buying an additional 356,957 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Prudential Financial by 12.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,355,882 shares of the financial services provider’s stock worth $296,059,000 after buying an additional 376,841 shares in the last quarter. Institutional investors and hedge funds own 54.92% of the company’s stock.

Insider Activity

In other Prudential Financial news, SVP Timothy L. Schmidt sold 8,281 shares of the business’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 transaction, the senior vice president now directly owns 14,621 shares of the company’s stock, valued at approximately $1,381,538.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Prudential Financial news, SVP Timothy L. Schmidt sold 8,281 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $94.49, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kenneth Tanji sold 23,124 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $105.14, for a total transaction of $2,431,257.36. Following the completion of the sale, the chief financial officer now owns 47,155 shares in the company, valued at $4,957,876.70. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.

Prudential Financial Stock Down 0.5 %

Shares of NYSE:PRU opened at $102.73 on Tuesday. The firm has a 50 day simple moving average of $102.72 and a 200-day simple moving average of $97.24. The company has a market capitalization of $37.09 billion, a PE ratio of 66.28, a P/E/G ratio of 0.73 and a beta of 1.37. Prudential Financial, Inc. has a twelve month low of $75.37 and a twelve month high of $107.31. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.70.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PRU. TheStreet downgraded shares of Prudential Financial from a “b” rating to a “c” rating in a report on Wednesday, November 1st. JPMorgan Chase & Co. restated a “neutral” rating and set a $118.00 price objective (down from $119.00) on shares of Prudential Financial in a research report on Wednesday, January 3rd. Raymond James lifted their price target on shares of Prudential Financial from $125.00 to $132.00 and gave the company a “strong-buy” rating in a research report on Thursday, December 7th. UBS Group lifted their price target 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 lifted their price target on shares of Prudential Financial from $103.00 to $105.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial has an average rating of “Hold” and an average target price of $104.80.

Read Our Latest Stock Report on PRU

About Prudential Financial

(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.

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

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