BlackRock Inc. Sells 941,556 Shares of Prudential Financial Inc (PRU)

BlackRock Inc. decreased its holdings in Prudential Financial Inc (NYSE:PRU) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,579,757 shares of the financial services provider’s stock after selling 941,556 shares during the quarter. BlackRock Inc. owned 6.61% of Prudential Financial worth $2,794,384,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of PRU. Natixis grew its position in Prudential Financial by 6,036.0% in the second quarter. Natixis now owns 845,049 shares of the financial services provider’s stock worth $79,021,000 after buying an additional 831,277 shares during the last quarter. Advisors Asset Management Inc. grew its position in Prudential Financial by 1,360.6% in the second quarter. Advisors Asset Management Inc. now owns 384,553 shares of the financial services provider’s stock worth $2,158,000 after buying an additional 358,225 shares during the last quarter. OppenheimerFunds Inc. grew its position in Prudential Financial by 36.5% in the second quarter. OppenheimerFunds Inc. now owns 1,124,424 shares of the financial services provider’s stock worth $105,145,000 after buying an additional 300,886 shares during the last quarter. First Trust Advisors LP grew its position in Prudential Financial by 92.0% in the second quarter. First Trust Advisors LP now owns 544,990 shares of the financial services provider’s stock worth $50,962,000 after buying an additional 261,210 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Prudential Financial by 31.2% in the second quarter. Renaissance Technologies LLC now owns 822,747 shares of the financial services provider’s stock worth $76,935,000 after buying an additional 195,647 shares during the last quarter. Hedge funds and other institutional investors own 63.33% of the company’s stock.

Several research analysts have issued reports on PRU shares. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a research report on Monday, October 8th. ValuEngine lowered shares of Prudential Financial from a “sell” rating to a “strong sell” rating in a research report on Friday, November 16th. Morgan Stanley decreased their price target on shares of Prudential Financial from $122.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 8th. Credit Suisse Group decreased their price target on shares of Prudential Financial from $102.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, August 17th. Finally, Goldman Sachs Group upgraded shares of Prudential Financial from a “buy” rating to a “conviction-buy” rating in a research report on Monday, September 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $119.31.

In other Prudential Financial news, insider Scott Sleyster sold 23,300 shares of Prudential Financial stock in a transaction on Friday, September 28th. The shares were sold at an average price of $99.74, for a total transaction of $2,323,942.00. Following the completion of the sale, the insider now owns 57,758 shares of the company’s stock, valued at approximately $5,760,782.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Prudential Financial Inc bought 880,000 shares of the firm’s stock in a transaction on Tuesday, October 16th. The shares were bought at an average cost of $25.00 per share, with a total value of $22,000,000.00. The disclosure for this purchase can be found here. Insiders own 0.66% of the company’s stock.

NYSE PRU opened at $89.67 on Friday. Prudential Financial Inc has a twelve month low of $89.10 and a twelve month high of $127.14. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.11 and a current ratio of 0.11. The company has a market cap of $37.60 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 0.83 and a beta of 1.44.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, November 7th. The financial services provider reported $3.15 earnings per share for the quarter, missing the consensus estimate of $3.16 by ($0.01). Prudential Financial had a return on equity of 10.20% and a net margin of 12.59%. The firm had revenue of $14.43 billion for the quarter, compared to analysts’ expectations of $13.51 billion. During the same quarter in the previous year, the firm posted $3.01 earnings per share. As a group, equities analysts expect that Prudential Financial Inc will post 12.19 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Monday, November 26th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Friday, November 23rd. Prudential Financial’s payout ratio is 34.03%.

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Prudential Financial Profile

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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