LSV Asset Management Sells 15,897 Shares of Prudential Financial, Inc. $PRU

LSV Asset Management trimmed its holdings in Prudential Financial, Inc. (NYSE:PRU) by 5.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 292,000 shares of the financial services provider’s stock after selling 15,897 shares during the quarter. LSV Asset Management owned 0.08% of Prudential Financial worth $30,292,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Prudential Financial by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 42,502,160 shares of the financial services provider’s stock valued at $4,566,432,000 after purchasing an additional 600,482 shares during the period. Geode Capital Management LLC lifted its stake in shares of Prudential Financial by 1.8% in the second quarter. Geode Capital Management LLC now owns 9,402,393 shares of the financial services provider’s stock valued at $1,010,474,000 after buying an additional 163,874 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Prudential Financial by 1.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,408,942 shares of the financial services provider’s stock valued at $258,817,000 after buying an additional 31,088 shares during the period. Nordea Investment Management AB increased its stake in Prudential Financial by 1.9% during the third quarter. Nordea Investment Management AB now owns 1,752,952 shares of the financial services provider’s stock valued at $180,344,000 after acquiring an additional 32,171 shares during the period. Finally, Norges Bank acquired a new position in Prudential Financial in the 2nd quarter valued at approximately $122,778,000. Institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PRU shares. Mizuho decreased their price objective on Prudential Financial from $126.00 to $113.00 and set a “neutral” rating on the stock in a report on Tuesday. Weiss Ratings upgraded shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Wall Street Zen cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. UBS Group raised their price objective on shares of Prudential Financial from $111.00 to $116.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Finally, Evercore lowered their target price on shares of Prudential Financial from $122.00 to $110.00 and set an “in-line” rating on the stock in a research note on Thursday, February 5th. One analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $117.11.

Insider Transactions at Prudential Financial

In related news, EVP Jacques Chappuis bought 1,000 shares of the company’s stock in a transaction on Friday, February 6th. The stock was bought at an average cost of $100.97 per share, with a total value of $100,970.00. Following the completion of the purchase, the executive vice president owned 1,000 shares in the company, valued at approximately $100,970. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Joseph J. Wolk acquired 400 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was bought at an average price of $105.32 per share, with a total value of $42,128.00. Following the transaction, the director directly owned 400 shares in the company, valued at $42,128. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 1,408,139 shares of company stock worth $35,128,697. Corporate insiders own 0.25% of the company’s stock.

Prudential Financial Stock Up 0.4%

Shares of PRU opened at $104.58 on Friday. The business’s 50 day simple moving average is $111.87 and its 200-day simple moving average is $107.37. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $119.76. The company has a market capitalization of $36.60 billion, a P/E ratio of 10.46, a PEG ratio of 1.19 and a beta of 0.97. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $3.30 EPS for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.07). The business had revenue of $15.69 billion during the quarter, compared to analyst estimates of $14.48 billion. Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.During the same period in the prior year, the firm posted $2.96 EPS. As a group, sell-side analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Tuesday, February 17th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $5.60 dividend on an annualized basis and a yield of 5.4%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.35. Prudential Financial’s payout ratio is currently 54.00%.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.