Man Group plc Has $13.16 Million Position in Prudential Financial, Inc. $PRU

Man Group plc decreased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 86.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 121,913 shares of the financial services provider’s stock after selling 761,281 shares during the quarter. Man Group plc’s holdings in Prudential Financial were worth $13,158,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PRU. Jessup Wealth Management Inc acquired a new stake in Prudential Financial in the fourth quarter worth about $25,000. Garton & Associates Financial Advisors LLC acquired a new position in Prudential Financial in the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new stake in Prudential Financial during the 4th quarter worth $30,000. Coston McIsaac & Partners raised its position in shares of Prudential Financial by 93.4% during the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 128 shares during the last quarter. Finally, SJS Investment Consulting Inc. lifted its stake in shares of Prudential Financial by 93.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 134 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wall Street Zen downgraded Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Barclays boosted their target price on Prudential Financial from $90.00 to $92.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 7th. Zacks Research raised Prudential Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, June 12th. TD Cowen lifted their price objective on shares of Prudential Financial from $102.00 to $114.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. Finally, Argus cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Tuesday, June 9th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, Prudential Financial presently has an average rating of “Reduce” and a consensus price target of $109.31.

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann M. Kappler sold 7,652 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $125.01, for a total transaction of $956,576.52. Following the completion of the transaction, the executive vice president owned 14,407 shares in the company, valued at approximately $1,801,019.07. This represents a 34.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total value of $5,314,963.50. Following the completion of the sale, the insider owned 7,973,657 shares in the company, valued at approximately $197,348,010.75. This trade represents a 2.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.05% of the stock is currently owned by corporate insiders.

Prudential Financial Trading Up 0.2%

NYSE:PRU opened at $120.43 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.16 and a quick ratio of 0.16. The business’s 50-day simple moving average is $117.69 and its 200-day simple moving average is $106.17. Prudential Financial, Inc. has a fifty-two week low of $91.89 and a fifty-two week high of $127.72. The stock has a market capitalization of $41.55 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 2.26 and a beta of 0.84.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.52 by $0.56. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.36 billion. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. During the same period last year, the company posted $3.58 EPS. Sell-side analysts expect that Prudential Financial, Inc. will post 14.3 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, August 25th. Prudential Financial’s payout ratio is currently 50.72%.

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.