Vanguard Group Inc. Has $4.39 Billion Holdings in Prudential Financial, Inc. $PRU

Vanguard Group Inc. reduced its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 42,362,574 shares of the financial services provider’s stock after selling 139,586 shares during the period. Vanguard Group Inc. owned about 12.10% of Prudential Financial worth $4,394,693,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the stock. Brighton Jones LLC grew its holdings in shares of Prudential Financial by 3.7% in the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after acquiring an additional 133 shares in the last quarter. Empowered Funds LLC grew its stake in Prudential Financial by 30.5% in the 1st quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock valued at $1,976,000 after purchasing an additional 4,134 shares during the period. Stratos Wealth Partners LTD. increased its position in shares of Prudential Financial by 4.4% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 8,505 shares of the financial services provider’s stock valued at $914,000 after purchasing an additional 359 shares during the last quarter. Chicago Partners Investment Group LLC bought a new stake in shares of Prudential Financial during the 2nd quarter worth $223,000. Finally, Stephens Inc. AR grew its position in Prudential Financial by 1.3% during the second quarter. Stephens Inc. AR now owns 43,032 shares of the financial services provider’s stock valued at $4,623,000 after buying an additional 538 shares during the period. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Prudential Financial stock opened at $103.24 on Wednesday. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $119.76. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $35.93 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97. The firm’s 50 day simple moving average is $111.57 and its 200 day simple moving average is $107.46.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 EPS for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.07). Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. The firm had revenue of $15.69 billion for the quarter, compared to analysts’ expectations of $14.48 billion. During the same quarter last year, the firm earned $2.96 earnings per share. As a group, analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Tuesday, February 17th will be given a dividend of $1.40 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $1.35. The ex-dividend date is Tuesday, February 17th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.4%. Prudential Financial’s dividend payout ratio is 54.00%.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 1,406,739 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was purchased at an average cost of $24.87 per share, for a total transaction of $34,985,598.93. Following the acquisition, the insider owned 7,709,624 shares of the company’s stock, valued at $191,738,348.88. This trade represents a 22.32% 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 link. Also, Director Joseph J. Wolk bought 400 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was purchased at an average price of $105.32 per share, with a total value of $42,128.00. Following the transaction, the director directly owned 400 shares in the company, valued at $42,128. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 1,408,139 shares of company stock valued at $35,128,697 in the last ninety days. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Mizuho dropped their target price on shares of Prudential Financial from $126.00 to $113.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 10th. Evercore dropped their price objective on Prudential Financial from $122.00 to $110.00 and set an “in-line” rating on the stock in a research note on Thursday, February 5th. JPMorgan Chase & Co. decreased their target price on Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a research report on Wednesday, February 4th. Weiss Ratings raised Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Finally, Wall Street Zen lowered Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. One analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $117.11.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.