Gulf International Bank UK Ltd Has $3.28 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

Gulf International Bank UK Ltd lowered its stake in Prudential Financial, Inc. (NYSE:PRU) by 6.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,006 shares of the financial services provider’s stock after selling 2,074 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Prudential Financial were worth $3,282,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cambridge Trust Co. grew its position in Prudential Financial by 77.2% in the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 105 shares in the last quarter. Creekmur Asset Management LLC increased its holdings in shares of Prudential Financial by 78.8% in the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 108 shares during the period. Lynx Investment Advisory bought a new stake in Prudential Financial during the second quarter valued at $29,000. Arlington Trust Co LLC boosted its position in shares of Prudential Financial by 151.6% during the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 185 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new stake in Prudential Financial in the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Activity

In other news, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction on Monday, May 13th. The shares were sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the transaction, the executive vice president now owns 202,083 shares in the company, valued at approximately $23,960,981.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the transaction, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of Prudential Financial stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the acquisition, the insider now directly owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

Prudential Financial Stock Performance

PRU stock traded down $0.30 on Wednesday, hitting $106.75. The company had a trading volume of 1,802,873 shares, compared to its average volume of 1,502,299. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67. Prudential Financial, Inc. has a 12-month low of $87.95 and a 12-month high of $128.52. The stock has a market cap of $38.32 billion, a price-to-earnings ratio of 18.15, a P/E/G ratio of 0.86 and a beta of 1.34. The stock’s 50-day simple moving average is $118.82 and its 200 day simple moving average is $114.19.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th will be paid a dividend of $1.30 per share. The ex-dividend date is Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.87%. Prudential Financial’s dividend payout ratio is currently 88.44%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PRU shares. Citigroup raised their price objective on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Morgan Stanley increased their target price on Prudential Financial from $120.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. Wells Fargo & Company lifted their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Evercore ISI increased their target price on Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Prudential Financial has an average rating of “Hold” and an average price target of $118.25.

Prudential Financial 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.