LSV Asset Management Has $33.08 Million Stock Position in Prudential Financial, Inc. $PRU

LSV Asset Management lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 307,897 shares of the financial services provider’s stock after selling 6,480 shares during the period. LSV Asset Management’s holdings in Prudential Financial were worth $33,080,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Econ Financial Services Corp acquired a new position in Prudential Financial in the 2nd quarter worth about $1,662,000. Nordea Investment Management AB grew its holdings in shares of Prudential Financial by 49.2% during the second quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock worth $184,192,000 after purchasing an additional 567,571 shares during the last quarter. Brookwood Investment Group LLC bought a new position in Prudential Financial in the 2nd quarter valued at approximately $289,000. Acadian Asset Management LLC boosted its position in Prudential Financial by 3.0% during the 1st quarter. Acadian Asset Management LLC now owns 109,447 shares of the financial services provider’s stock worth $12,217,000 after buying an additional 3,183 shares during the period. Finally, Asahi Life Asset Management CO. LTD. bought a new position in shares of Prudential Financial during the second quarter valued at $298,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the transaction, the executive vice president owned 21,506 shares in the company, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Charles F. Lowrey sold 48,164 shares of Prudential Financial stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $107.39, for a total value of $5,172,331.96. Following the transaction, the chairman directly owned 165,564 shares in the company, valued at approximately $17,779,917.96. The trade was a 22.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.25% of the company’s stock.

Prudential Financial Stock Performance

Shares of PRU stock opened at $102.73 on Wednesday. The firm has a 50 day moving average of $103.59 and a 200-day moving average of $104.71. The company has a market cap of $35.96 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 0.88 and a beta of 1.05. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. The business had revenue of $8.35 billion for the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.98%. On average, equities analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Tuesday, November 18th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Tuesday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is currently 74.18%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PRU. Wolfe Research assumed coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Barclays reduced their price target on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Wall Street Zen raised Prudential Financial from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Morgan Stanley upped their target price on Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Finally, Evercore ISI raised their price target on shares of Prudential Financial from $120.00 to $122.00 and gave the stock an “in-line” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Prudential Financial presently has an average rating of “Hold” and a consensus target price of $120.73.

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.