Financial Counselors Inc. Lowers Position in Prudential Financial, Inc. (NYSE:PRU)

Financial Counselors Inc. cut its holdings in Prudential Financial, Inc. (NYSE:PRU) by 0.4% in the third quarter, Holdings Channel reports. The fund owned 127,504 shares of the financial services provider’s stock after selling 469 shares during the quarter. Financial Counselors Inc.’s holdings in Prudential Financial were worth $15,441,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Prudential Financial by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider’s stock worth $370,327,000 after purchasing an additional 47,561 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in Prudential Financial by 2.2% in the third quarter. Public Sector Pension Investment Board now owns 62,223 shares of the financial services provider’s stock worth $7,535,000 after purchasing an additional 1,343 shares in the last quarter. Fiduciary Trust Co bought a new position in Prudential Financial in the third quarter worth about $252,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Prudential Financial by 1.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 302,840 shares of the financial services provider’s stock worth $36,674,000 after purchasing an additional 4,782 shares in the last quarter. Finally, Providence Capital Advisors LLC increased its holdings in shares of Prudential Financial by 1.0% during the third quarter. Providence Capital Advisors LLC now owns 27,677 shares of the financial services provider’s stock valued at $3,352,000 after acquiring an additional 270 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the purchase, the insider now owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. The trade was a 6.61 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial 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 completion of the sale, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. This represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Prudential Financial Trading Up 0.3 %

Prudential Financial stock opened at $129.52 on Thursday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 12 month low of $95.10 and a 12 month high of $130.55. The stock’s 50 day simple moving average is $123.93 and its two-hundred day simple moving average is $119.96. The firm has a market cap of $46.11 billion, a PE ratio of 11.51, a P/E/G ratio of 0.91 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The business had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the prior year, the firm posted $3.44 EPS. Analysts anticipate that Prudential Financial, Inc. will post 13.33 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.01%. Prudential Financial’s dividend payout ratio is currently 46.22%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Piper Sandler upped their price objective on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Morgan Stanley cut their price objective on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. TD Cowen upped their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their price objective for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Eleven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Prudential Financial presently has an average rating of “Hold” and an average price target of $125.92.

Prudential Financial 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.