Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 8.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 24,871 shares of the financial services provider’s stock after selling 2,182 shares during the period. Kentucky Retirement Systems’ holdings in Prudential Financial were worth $3,012,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC boosted its position in shares of 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 buying an additional 108 shares during the period. Lynx Investment Advisory purchased a new position in Prudential Financial during the 2nd quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new position in Prudential Financial in the 3rd quarter valued at about $31,000. Strategic Financial Concepts LLC increased its stake 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. Finally, Crewe Advisors LLC acquired a new stake in shares of Prudential Financial during the first quarter worth about $33,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU opened at $127.41 on Friday. The firm has a fifty day moving average price of $122.20 and a 200 day moving average price of $119.28. The stock has a market cap of $45.36 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 0.91 and a beta of 1.29. Prudential Financial, Inc. has a 1-year low of $93.32 and a 1-year high of $129.13. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period in the prior year, the firm earned $3.44 EPS. As a group, sell-side analysts anticipate that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.08%. Prudential Financial’s payout ratio is 46.22%.

Wall Street Analysts Forecast Growth

PRU has been the topic of several recent research reports. UBS Group upped their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Argus raised Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Wells Fargo & Company lifted their target price on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and upped their price target for the stock from $117.00 to $140.00 in a report on Thursday. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st. Eleven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and a consensus price target of $125.69.

Insider Activity at Prudential Financial

In related news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at $1,648,705.05. This represents a 16.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of Prudential Financial stock in a transaction dated Tuesday, October 8th. The stock was acquired at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the acquisition, the insider now directly owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This trade represents a 6.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.31% of the stock is owned by insiders.

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.