Prudential Financial, Inc. $PRU Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 735,613 shares of the financial services provider’s stock after selling 26,880 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.21% of Prudential Financial worth $83,551,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Plimoth Trust Co. LLC raised its holdings in shares of Prudential Financial by 2.4% during the second quarter. Plimoth Trust Co. LLC now owns 3,860 shares of the financial services provider’s stock valued at $417,000 after acquiring an additional 90 shares during the last quarter. Security National Bank of SO Dak boosted its stake in shares of Prudential Financial by 0.6% in the second quarter. Security National Bank of SO Dak now owns 14,676 shares of the financial services provider’s stock worth $1,584,000 after acquiring an additional 90 shares during the last quarter. XXI Wealth LLC boosted its stake in shares of Prudential Financial by 5.0% in the third quarter. XXI Wealth LLC now owns 1,967 shares of the financial services provider’s stock worth $223,000 after acquiring an additional 93 shares during the last quarter. Prosperitas Financial LLC increased its position in shares of Prudential Financial by 4.6% during the third quarter. Prosperitas Financial LLC now owns 2,186 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 96 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. raised its stake in Prudential Financial by 34.8% in the 2nd quarter. Keating Financial Advisory Services Inc. now owns 395 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PRU. JPMorgan Chase & Co. lowered their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, October 22nd. Weiss Ratings downgraded shares of Prudential Financial from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, October 14th. TD Cowen lowered their price target on shares of Prudential Financial from $114.00 to $112.00 and set a “hold” rating on the stock in a research report on Wednesday, October 21st. Wells Fargo & Company dropped their price objective on shares of Prudential Financial from $104.00 to $103.00 and set an “underweight” rating for the company in a research note on Wednesday, October 28th. Finally, Bank of America dropped their price objective on shares of Prudential Financial from $132.00 to $130.00 and set a “neutral” rating for the company in a research note on Monday, October 12th. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, Prudential Financial has an average rating of “Reduce” and a consensus target price of $111.27.

Prudential Financial Stock Performance

NYSE:PRU opened at $118.81 on Wednesday. The firm has a market capitalization of $40.99 billion, a PE ratio of 7.76, a price-to-earnings-growth ratio of 1.98 and a beta of 0.85. The business’s fifty day moving average price is $116.83 and its 200 day moving average price is $108.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a 12 month low of $91.89 and a 12 month high of $127.72.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.34 by $0.43. The company had revenue of $13.49 billion during the quarter, compared to the consensus estimate of $14.66 billion. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%. During the same period in the previous year, the business earned $4.26 EPS. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 13.51 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Tuesday, August 25th. Prudential Financial’s dividend payout ratio (DPR) is 50.72%.

Insiders Place Their Bets

In related news, EVP Ann Kappler sold 7,652 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president owned 14,407 shares in the company, valued at $1,801,019.07. The trade was a 34.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.05% of the stock is currently owned by insiders.

Prudential Financial Profile

Prudential Financial, Inc (NYSE: PRU) is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in Newark, New Jersey, in 1875, the company serves individuals, businesses and institutional investors through a range of businesses and distribution channels.

In the United States, Prudential offers life insurance, annuities, retirement plans and employee benefits, including group life, disability and dental insurance.