Healthcare of Ontario Pension Plan Trust Fund Has $10.31 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Healthcare of Ontario Pension Plan Trust Fund lowered its stake in Prudential Financial, Inc. (NYSE:PRU) by 46.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 88,000 shares of the financial services provider’s stock after selling 77,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Prudential Financial were worth $10,313,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PRU. Creekmur Asset Management LLC grew its holdings in Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 108 shares during the period. Lynx Investment Advisory bought a new position in Prudential Financial during the second quarter worth about $29,000. Strategic Financial Concepts LLC grew its holdings in Prudential Financial by 1,312.4% during the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 25,027 shares during the period. Crewe Advisors LLC bought a new position in Prudential Financial during the first quarter worth about $33,000. Finally, ESL Trust Services LLC bought a new stake in shares of Prudential Financial during the first quarter worth approximately $34,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of research analyst reports. Wells Fargo & Company upgraded Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price objective for the company in a report on Monday, August 12th. Morgan Stanley reduced their price objective on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a research report on Wednesday, August 21st. Citigroup lifted their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Barclays assumed coverage on shares of Prudential Financial in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 price target for the company. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and a consensus price target of $123.36.

Prudential Financial Stock Up 3.4 %

Shares of NYSE:PRU opened at $122.99 on Friday. The company has a fifty day moving average of $116.93 and a 200-day moving average of $116.91. The company has a market capitalization of $44.15 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 0.96 and a beta of 1.30. 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 52-week low of $87.95 and a 52-week high of $128.52.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.43 by ($0.04). The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. On average, equities analysts predict that Prudential Financial, Inc. will post 13.3 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were paid a $1.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.23%. Prudential Financial’s dividend payout ratio is 88.44%.

Insider Buying and Selling

In related 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 sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the sale, the executive vice president now owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

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.