OLD National Bancorp IN cut its stake in Prudential Financial Inc (NYSE:PRU) by 10.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,193 shares of the financial services provider’s stock after selling 753 shares during the quarter. OLD National Bancorp IN’s holdings in Prudential Financial were worth $712,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. APG Asset Management N.V. grew its stake in shares of Prudential Financial by 171.8% in the third quarter. APG Asset Management N.V. now owns 2,704,719 shares of the financial services provider’s stock worth $287,566,000 after acquiring an additional 1,709,699 shares during the period. Legal & General Group Plc grew its stake in shares of Prudential Financial by 2.3% in the third quarter. Legal & General Group Plc now owns 2,341,330 shares of the financial services provider’s stock worth $248,931,000 after acquiring an additional 52,597 shares during the period. Swiss National Bank grew its stake in shares of Prudential Financial by 0.6% in the third quarter. Swiss National Bank now owns 1,580,987 shares of the financial services provider’s stock worth $168,091,000 after acquiring an additional 10,000 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of Prudential Financial by 5.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,561,532 shares of the financial services provider’s stock worth $179,545,000 after acquiring an additional 81,628 shares during the period. Finally, Bank of Montreal Can grew its stake in shares of Prudential Financial by 4.9% in the fourth quarter. Bank of Montreal Can now owns 1,551,788 shares of the financial services provider’s stock worth $178,423,000 after acquiring an additional 72,507 shares during the period. Hedge funds and other institutional investors own 64.37% of the company’s stock.

A number of brokerages have recently commented on PRU. Wells Fargo & Co set a $122.00 price target on shares of Prudential Financial and gave the stock a “hold” rating in a research note on Thursday, December 14th. Atlantic Securities upgraded shares of Prudential Financial from a “neutral” rating to an “overweight” rating in a research report on Thursday, January 11th. Morgan Stanley boosted their target price on shares of Prudential Financial from $123.00 to $124.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. B. Riley restated a “buy” rating on shares of Prudential Financial in a research report on Monday, November 6th. Finally, Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research report on Monday, January 8th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $119.14.

In other Prudential Financial news, EVP Timothy P. Harris sold 10,527 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $115.00, for a total value of $1,210,605.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Barbara Koster sold 16,801 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $115.17, for a total transaction of $1,934,971.17. Following the completion of the transaction, the senior vice president now owns 37,327 shares of the company’s stock, valued at $4,298,950.59. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Shares of Prudential Financial Inc (NYSE PRU) opened at $106.89 on Wednesday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.32. The stock has a market cap of $45,732.64, a P/E ratio of 10.19, a P/E/G ratio of 1.12 and a beta of 1.50. Prudential Financial Inc has a 12-month low of $97.88 and a 12-month high of $127.14.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.64 by $0.05. The business had revenue of $15.25 billion during the quarter, compared to analyst estimates of $12.87 billion. Prudential Financial had a net margin of 13.41% and a return on equity of 9.29%. During the same period in the prior year, the business posted $2.46 earnings per share. equities analysts predict that Prudential Financial Inc will post 12.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 21st will be given a $0.90 dividend. This is a positive change from Prudential Financial’s previous quarterly dividend of $0.75. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Tuesday, February 20th. Prudential Financial’s dividend payout ratio is presently 16.75%.

Prudential Financial declared that its board has authorized a share buyback program on Thursday, December 14th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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Prudential Financial Profile

Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.

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

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