Teachers Retirement System of The State of Kentucky Trims Position in Prudential Financial, Inc. (NYSE:PRU)

Teachers Retirement System of The State of Kentucky lowered its holdings in Prudential Financial, Inc. (NYSE:PRU) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,955 shares of the financial services provider’s stock after selling 845 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Prudential Financial were worth $3,393,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp boosted its position in shares of Prudential Financial by 1,261.2% in the fourth quarter. Jones Financial Companies Lllp now owns 1,157 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 1,072 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Prudential Financial by 1.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 271,480 shares of the financial services provider’s stock valued at $28,155,000 after purchasing an additional 2,661 shares during the last quarter. Lake Street Advisors Group LLC purchased a new stake in shares of Prudential Financial during the 4th quarter valued at $289,000. Tower Research Capital LLC TRC increased its holdings in shares of Prudential Financial by 210.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 51,714 shares of the financial services provider’s stock worth $5,363,000 after buying an additional 35,049 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in shares of Prudential Financial by 56.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 35,167 shares of the financial services provider’s stock worth $3,647,000 after buying an additional 12,669 shares during the period. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Ann M. Kappler sold 2,839 shares of the business’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 completion of the transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was 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 approximately $1,220,694.75. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PRU has been the subject of several research analyst reports. Wells Fargo & Company upgraded Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price target for the company in a research note on Monday, August 12th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. JPMorgan Chase & Co. boosted their price objective on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. UBS Group raised their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Finally, Citigroup upped their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and a consensus target price of $121.33.

Prudential Financial Trading Down 0.0 %

NYSE PRU opened at $118.90 on Friday. The company’s fifty day moving average price is $116.95 and its two-hundred day moving average price is $116.84. The company has a market capitalization of $42.69 billion, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 0.96 and a beta of 1.30. Prudential Financial, Inc. has a 12 month low of $87.95 and a 12 month high of $128.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The firm had revenue of $13.84 billion during 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%. As a group, research analysts predict that Prudential Financial, Inc. will post 13.3 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is presently 88.44%.

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.