Public Employees Retirement Association of Colorado Trims Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Public Employees Retirement Association of Colorado reduced its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,921 shares of the financial services provider’s stock after selling 1,184 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Prudential Financial were worth $5,850,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PRU. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Prudential Financial by 12.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 25,180 shares of the financial services provider’s stock worth $2,950,000 after acquiring an additional 2,698 shares during the period. Ieq Capital LLC raised its position in shares of Prudential Financial by 10.9% during the 2nd quarter. Ieq Capital LLC now owns 21,434 shares of the financial services provider’s stock valued at $2,512,000 after buying an additional 2,100 shares in the last quarter. Brighton Jones LLC raised its position in Prudential Financial by 3.0% during the second quarter. Brighton Jones LLC now owns 3,536 shares of the financial services provider’s stock valued at $414,000 after purchasing an additional 103 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Prudential Financial by 70.8% during the 2nd quarter. Intech Investment Management LLC now owns 17,570 shares of the financial services provider’s stock valued at $2,059,000 after buying an additional 7,281 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in shares of Prudential Financial by 148.4% during the second quarter. Blair William & Co. IL now owns 26,585 shares of the financial services provider’s stock worth $3,116,000 after acquiring an additional 15,884 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PRU has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a research note on Wednesday, August 21st. UBS Group increased their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Wells Fargo & Company upgraded shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price objective on the stock in a research report on Monday, August 12th. JPMorgan Chase & Co. increased their target price on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Finally, Citigroup boosted their price target on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $120.83.

Insider Buying and Selling

In other news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related 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 completion of the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The sale was disclosed in a filing with the SEC, 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 shares were 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 of the company’s stock, valued at $1,648,705.05. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Prudential Financial Stock Down 0.4 %

PRU stock opened at $121.36 on Monday. The business’s 50-day moving average price is $117.83 and its 200-day moving average price is $116.39. The stock has a market cap of $43.57 billion, a P/E ratio of 20.64, a PEG ratio of 0.91 and a beta of 1.30. Prudential Financial, Inc. has a twelve month low of $87.95 and a twelve month high of $128.52. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The firm had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. On average, equities research analysts forecast that Prudential Financial, Inc. will post 13.31 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were given a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.28%. Prudential Financial’s payout ratio is 88.44%.

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.