Elo Mutual Pension Insurance Co Sells 2,849 Shares of Prudential Financial, Inc. (NYSE:PRU)

Elo Mutual Pension Insurance Co lessened its holdings in Prudential Financial, Inc. (NYSE:PRU) by 8.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,204 shares of the financial services provider’s stock after selling 2,849 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Prudential Financial were worth $3,540,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PRU. Vanguard Group Inc. boosted its position in shares of Prudential Financial by 13.9% in the fourth quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock valued at $4,386,192,000 after acquiring an additional 5,154,865 shares during the period. Norges Bank bought a new stake in Prudential Financial during the fourth quarter worth about $113,478,000. Swedbank AB bought a new stake in Prudential Financial during the first quarter worth about $35,855,000. Schroder Investment Management Group lifted its position in Prudential Financial by 387.6% during the fourth quarter. Schroder Investment Management Group now owns 332,421 shares of the financial services provider’s stock worth $34,475,000 after purchasing an additional 264,247 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. bought a new stake in Prudential Financial during the fourth quarter worth about $18,568,000. Institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Prudential Financial Stock Performance

NYSE:PRU opened at $119.44 on Thursday. The company has a market capitalization of $42.64 billion, a PE ratio of 20.31, a P/E/G ratio of 0.90 and a beta of 1.30. The company has a 50 day simple moving average of $117.88 and a two-hundred day simple moving average of $116.15. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a fifty-two week low of $87.95 and a fifty-two week high of $128.52.

Prudential Financial (NYSE:PRU) last released its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The firm had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. Research analysts anticipate that Prudential Financial, Inc. will post 13.31 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is presently 88.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st. Citigroup boosted their target price on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company raised Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 target price for the company in a research note on Monday, August 12th. UBS Group boosted their target price on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Finally, Jefferies Financial Group lowered their target price on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and an average target price of $120.83.

About Prudential Financial

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.