Goelzer Investment Management Inc. Reduces Holdings in Prudential Financial, Inc. (NYSE:PRU)

Goelzer Investment Management Inc. lowered its stake in Prudential Financial, Inc. (NYSE:PRU) by 6.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 61,811 shares of the financial services provider’s stock after selling 4,372 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Prudential Financial were worth $7,485,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Thrive Wealth Management LLC lifted its holdings in shares of Prudential Financial by 4.1% during the 3rd quarter. Thrive Wealth Management LLC now owns 4,232 shares of the financial services provider’s stock worth $513,000 after acquiring an additional 165 shares during the period. Park Avenue Securities LLC increased its position in Prudential Financial by 13.2% during the third quarter. Park Avenue Securities LLC now owns 8,403 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 979 shares during the last quarter. Czech National Bank raised its stake in Prudential Financial by 6.3% during the third quarter. Czech National Bank now owns 72,724 shares of the financial services provider’s stock worth $8,807,000 after purchasing an additional 4,313 shares during the period. AMF Tjanstepension AB boosted its holdings in Prudential Financial by 12.5% in the third quarter. AMF Tjanstepension AB now owns 203,197 shares of the financial services provider’s stock valued at $24,642,000 after acquiring an additional 22,588 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Prudential Financial by 1.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 68,617 shares of the financial services provider’s stock valued at $8,310,000 after purchasing an additional 749 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

PRU has been the topic of a number of research reports. Morgan Stanley cut their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Jefferies Financial Group decreased their price target on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a report on Friday, June 28th. Argus raised shares of Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Wells Fargo & Company raised shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price target for the company in a report on Monday, August 12th. Finally, Citigroup upped their price objective on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $123.36.

Insider Activity

In related news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 14,535 shares in the company, valued at $1,648,705.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Stock Up 3.4 %

Shares of PRU traded up $4.09 during midday trading on Friday, reaching $122.99. 1,889,567 shares of the stock were exchanged, compared to its average volume of 1,500,824. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. Prudential Financial, Inc. has a 12-month low of $87.95 and a 12-month high of $128.52. The firm has a 50 day simple moving average of $116.93 and a 200-day simple moving average of $116.91. The company has a market cap of $44.15 billion, a price-to-earnings ratio of 20.92, a P/E/G ratio of 0.96 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Research analysts forecast that Prudential Financial, Inc. will post 13.3 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were paid a $1.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.23%. Prudential Financial’s payout ratio is 88.44%.

Prudential Financial Company 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.