Prudential Financial, Inc. $PRU Shares Purchased by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund lifted its stake in Prudential Financial, Inc. (NYSE:PRU) by 31.9% in the third quarter, HoldingsChannel reports. The fund owned 40,254 shares of the financial services provider’s stock after purchasing an additional 9,741 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Prudential Financial were worth $4,176,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PRU. Mattson Financial Services LLC lifted its stake in Prudential Financial by 312.8% during the third quarter. Mattson Financial Services LLC now owns 12,119 shares of the financial services provider’s stock valued at $1,257,000 after buying an additional 9,183 shares in the last quarter. Econ Financial Services Corp acquired a new position in Prudential Financial in the 2nd quarter worth approximately $1,662,000. Capital Advisors Inc. OK grew its position in Prudential Financial by 28.4% during the 3rd quarter. Capital Advisors Inc. OK now owns 384,404 shares of the financial services provider’s stock worth $39,878,000 after purchasing an additional 85,072 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Prudential Financial by 49.2% in the second quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock valued at $184,192,000 after purchasing an additional 567,571 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in shares of Prudential Financial by 5.3% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 280,200 shares of the financial services provider’s stock worth $29,068,000 after buying an additional 14,200 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Trading Down 0.5%

NYSE:PRU opened at $118.13 on Friday. The company’s 50 day moving average is $111.00 and its 200-day moving average is $106.90. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $123.88. The firm has a market cap of $41.35 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 0.94 and a beta of 0.97.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data 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 during the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.60%. Equities analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Tuesday, November 18th were paid a $1.35 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.6%. Prudential Financial’s payout ratio is presently 74.18%.

Insider Buying and Selling

In related news, Chairman Charles F. Lowrey sold 48,164 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the completion of the transaction, the chairman owned 165,564 shares of the company’s stock, valued at approximately $17,779,917.96. The trade was a 22.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Timothy L. Schmidt sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $107.69, for a total value of $861,520.00. Following the completion of the sale, the senior vice president directly owned 11,535 shares in the company, valued at $1,242,204.15. This trade represents a 40.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 62,719 shares of company stock valued at $6,796,067. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

PRU has been the topic of several research analyst reports. Wall Street Zen cut Prudential Financial from a “buy” rating to a “hold” rating in a research note on Saturday. Piper Sandler boosted their price objective on shares of Prudential Financial from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, December 23rd. Wolfe Research started coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Barclays decreased their target price on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Finally, UBS Group upped their price target on shares of Prudential Financial from $111.00 to $116.00 and gave the stock a “neutral” rating in a research note on Thursday. Eleven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Prudential Financial presently has an average rating of “Reduce” and a consensus target price of $118.60.

Prudential Financial 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.