Bokf Na Cuts Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Bokf Na lowered its holdings in Prudential Financial, Inc. (NYSE:PRU) by 5.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 206,252 shares of the financial services provider’s stock after selling 12,154 shares during the period. Bokf Na owned approximately 0.06% of Prudential Financial worth $24,171,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Cullinan Associates Inc. increased its stake in shares of Prudential Financial by 2,355.0% during the first quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock worth $17,798,000 after buying an additional 145,423 shares during the period. National Bank of Canada FI lifted its position in shares of Prudential Financial by 44.9% during the 1st quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock worth $27,327,000 after purchasing an additional 71,274 shares during the last quarter. Greenwood Capital Associates LLC purchased a new position in Prudential Financial in the fourth quarter valued at $1,087,000. Crestline Management LP raised its stake in Prudential Financial by 50.0% in the fourth quarter. Crestline Management LP now owns 60,000 shares of the financial services provider’s stock valued at $6,223,000 after buying an additional 20,000 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in Prudential Financial during the 4th quarter worth about $761,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PRU. Jefferies Financial Group decreased their target price on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Barclays started coverage on shares of Prudential Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 target price for the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a research note on Wednesday, August 21st. Citigroup raised their price objective on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Finally, Morgan Stanley reduced their target price on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Prudential Financial has an average rating of “Hold” and a consensus price target of $120.83.

Prudential Financial Stock Up 0.0 %

Shares of Prudential Financial stock opened at $114.72 on Thursday. The stock has a market capitalization of $41.18 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 0.88 and a beta of 1.30. Prudential Financial, Inc. has a twelve month low of $87.95 and a twelve month high of $128.52. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The business’s 50 day simple moving average is $117.95 and its 200-day simple moving average is $115.82.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Equities research analysts forecast that Prudential Financial, Inc. will post 13.31 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date of this dividend is Tuesday, August 20th. Prudential Financial’s dividend payout ratio is currently 88.44%.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the firm’s stock in a transaction 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 purchase, the insider now owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was bought at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the acquisition, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

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.