Teachers Retirement System of The State of Kentucky Sells 1,924 Shares of Prudential Financial, Inc. (NYSE:PRU)

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 6.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 27,031 shares of the financial services provider’s stock after selling 1,924 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Prudential Financial were worth $3,273,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PRU. Toronto Dominion Bank grew its holdings in Prudential Financial by 1.9% during the third quarter. Toronto Dominion Bank now owns 191,652 shares of the financial services provider’s stock valued at $23,209,000 after purchasing an additional 3,615 shares during the period. Empire Financial Management Company LLC bought a new position in shares of Prudential Financial during the third quarter worth $854,000. Coldstream Capital Management Inc. grew its holdings in shares of Prudential Financial by 7.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 11,722 shares of the financial services provider’s stock valued at $1,424,000 after buying an additional 775 shares during the period. Geode Capital Management LLC increased its position in shares of Prudential Financial by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock valued at $1,047,872,000 after buying an additional 341,787 shares in the last quarter. Finally, Vestcor Inc lifted its holdings in Prudential Financial by 15.4% during the third quarter. Vestcor Inc now owns 7,009 shares of the financial services provider’s stock worth $849,000 after acquiring an additional 937 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Trading Down 0.1 %

Shares of Prudential Financial stock opened at $120.48 on Friday. Prudential Financial, Inc. has a 12-month low of $100.60 and a 12-month high of $130.55. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $124.99 and its 200-day moving average is $120.46. The stock has a market cap of $42.89 billion, a P/E ratio of 10.71, a P/E/G ratio of 0.86 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter last year, the company posted $3.44 earnings per share. Equities research analysts predict that Prudential Financial, Inc. will post 13.35 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were given a $1.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.32%. Prudential Financial’s payout ratio is 46.22%.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of research reports. Wells Fargo & Company increased their target price on Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and increased their target price for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Morgan Stanley cut their price target on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $121.00 target price on shares of Prudential Financial in a research report on Wednesday, August 21st. Finally, Jefferies Financial Group upped their price target on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Eleven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $126.33.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of Prudential Financial stock in a transaction that occurred on Tuesday, October 8th. The stock was acquired at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the acquisition, the insider now owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This represents a 6.61 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently 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.