Teachers Retirement System of The State of Kentucky Sells 1,805 Shares of Prudential Financial, Inc. (NYSE:PRU)

Teachers Retirement System of The State of Kentucky cut its position in Prudential Financial, Inc. (NYSE:PRU) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,433 shares of the financial services provider’s stock after selling 1,805 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Prudential Financial were worth $3,260,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PRU. Cambridge Trust Co. increased its holdings in shares of Prudential Financial by 77.2% during the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 105 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of Prudential Financial during the fourth quarter valued at about $26,000. Headinvest LLC acquired a new position in shares of Prudential Financial during the third quarter valued at about $27,000. Arlington Trust Co LLC increased its holdings in shares of Prudential Financial by 151.6% during the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 185 shares in the last quarter. Finally, Janiczek Wealth Management LLC increased its holdings in shares of Prudential Financial by 49.6% during the fourth quarter. Janiczek Wealth Management LLC now owns 374 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 124 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Timothy L. Schmidt sold 5,189 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total transaction of $604,933.62. Following the transaction, the senior vice president now owns 12,236 shares in the company, valued at approximately $1,426,472.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Timothy L. Schmidt sold 5,189 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the completion of the transaction, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert Falzon sold 130,092 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $118.57, for a total value of $15,425,008.44. Following the completion of the transaction, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PRU shares. Morgan Stanley upped their price objective on shares of Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods increased their price target on shares of Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Jefferies Financial Group upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and increased their price target for the stock from $121.00 to $143.00 in a report on Wednesday, May 22nd. Piper Sandler cut their price target on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Finally, Evercore ISI increased their price target on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $115.25.

Prudential Financial Trading Up 1.0 %

Prudential Financial stock opened at $115.67 on Wednesday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67. Prudential Financial, Inc. has a 12 month low of $83.34 and a 12 month high of $121.39. The stock’s 50 day simple moving average is $115.10 and its two-hundred day simple moving average is $109.99. The firm has a market cap of $41.53 billion, a PE ratio of 19.67, a P/E/G ratio of 0.85 and a beta of 1.35.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The business had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. During the same quarter last year, the business earned $2.66 EPS. The company’s quarterly revenue was up 69.9% on a year-over-year basis. Analysts anticipate that Prudential Financial, Inc. will post 13.41 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st were given a dividend of $1.30 per share. The ex-dividend date was Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.50%. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

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.