Bokf Na Has $13 Million Stake in Prudential Financial, Inc. $PRU

Bokf Na reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 24.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 125,322 shares of the financial services provider’s stock after selling 39,531 shares during the quarter. Bokf Na’s holdings in Prudential Financial were worth $13,001,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in Prudential Financial by 3.7% in the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after buying an additional 133 shares during the last quarter. Empowered Funds LLC grew its position in shares of Prudential Financial by 30.5% in the first quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock valued at $1,976,000 after purchasing an additional 4,134 shares during the last quarter. Savant Capital LLC increased its stake in shares of Prudential Financial by 0.6% in the second quarter. Savant Capital LLC now owns 17,811 shares of the financial services provider’s stock worth $1,914,000 after purchasing an additional 111 shares during the period. Penserra Capital Management LLC boosted its stake in Prudential Financial by 11.1% during the 2nd quarter. Penserra Capital Management LLC now owns 1,946 shares of the financial services provider’s stock valued at $208,000 after purchasing an additional 195 shares during the period. Finally, Prospera Financial Services Inc grew its holdings in Prudential Financial by 15.2% in the 2nd quarter. Prospera Financial Services Inc now owns 10,472 shares of the financial services provider’s stock valued at $1,126,000 after buying an additional 1,378 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Activity

In other news, EVP Jacques Chappuis bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The stock was acquired at an average price of $100.97 per share, for a total transaction of $100,970.00. Following the transaction, the executive vice president directly owned 1,000 shares of the company’s stock, valued at $100,970. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Joseph J. Wolk purchased 400 shares of Prudential Financial stock in a transaction on Wednesday, February 11th. The stock was purchased at an average price of $105.32 per share, for a total transaction of $42,128.00. Following the completion of the transaction, the director owned 400 shares of the company’s stock, valued at approximately $42,128. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 1,408,389 shares of company stock worth $35,154,439 in the last quarter. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PRU. JPMorgan Chase & Co. reduced their price objective on Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a research report on Wednesday, February 4th. Wells Fargo & Company downgraded shares of Prudential Financial from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $115.00 to $103.00 in a report on Wednesday, February 25th. Barclays reduced their target price on shares of Prudential Financial from $124.00 to $119.00 and set an “equal weight” rating for the company in a research note on Wednesday. Evercore restated a “negative” rating on shares of Prudential Financial in a research note on Friday, March 6th. Finally, Wall Street Zen downgraded Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $115.22.

Prudential Financial Stock Down 0.6%

NYSE PRU opened at $94.90 on Thursday. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $119.76. The company has a market capitalization of $33.02 billion, a price-to-earnings ratio of 9.49, a PEG ratio of 1.10 and a beta of 0.98. The stock’s 50 day moving average is $106.61 and its two-hundred day moving average is $106.81. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.07). The company had revenue of $14.52 billion during the quarter, compared to analyst estimates of $14.48 billion. Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.During the same period in the previous year, the company posted $2.96 earnings per share. Equities analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Tuesday, February 17th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Tuesday, February 17th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.35. Prudential Financial’s payout ratio is currently 56.00%.

Prudential Financial 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.