Securian Asset Management Inc. Trims Holdings in Prudential Financial, Inc. (NYSE:PRU)

Securian Asset Management Inc. lowered its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,642 shares of the financial services provider’s stock after selling 620 shares during the period. Securian Asset Management Inc.’s holdings in Prudential Financial were worth $2,419,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PRU. Sequoia Financial Advisors LLC raised its stake in Prudential Financial by 77.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 7,355 shares of the financial services provider’s stock valued at $763,000 after purchasing an additional 3,220 shares during the period. Aaron Wealth Advisors LLC bought a new stake in Prudential Financial during the 4th quarter valued at approximately $206,000. Janiczek Wealth Management LLC increased its position in Prudential Financial by 49.6% in the 4th quarter. Janiczek Wealth Management LLC now owns 374 shares of the financial services provider’s stock worth $39,000 after buying an additional 124 shares during the period. Valeo Financial Advisors LLC boosted its holdings in Prudential Financial by 10.0% in the 4th quarter. Valeo Financial Advisors LLC now owns 4,982 shares of the financial services provider’s stock valued at $517,000 after purchasing an additional 454 shares during the period. Finally, Koshinski Asset Management Inc. grew its stake in shares of Prudential Financial by 38.5% in the 4th quarter. Koshinski Asset Management Inc. now owns 21,548 shares of the financial services provider’s stock valued at $2,235,000 after purchasing an additional 5,987 shares during the period. Institutional investors own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PRU. Wells Fargo & Company raised shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price target on the stock in a research report on Monday. Evercore ISI increased their price target on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. boosted their price target on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Jefferies Financial Group cut their price objective on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Prudential Financial from $118.00 to $121.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $118.83.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of Prudential Financial stock in a transaction on Thursday, June 20th. The stock was acquired at an average price 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 in the company, valued at $107,065,062.30. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is owned by insiders.

Prudential Financial Trading Down 0.8 %

PRU stock traded down $0.83 during trading on Monday, reaching $108.63. The company had a trading volume of 511,578 shares, compared to its average volume of 1,494,689. The business has a 50 day moving average of $118.41 and a 200 day moving average of $114.33. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. The company has a market cap of $38.78 billion, a P/E ratio of 18.62, a PEG ratio of 0.83 and a beta of 1.34. Prudential Financial, Inc. has a 52 week low of $87.95 and a 52 week high of $128.52.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend is Tuesday, August 20th. Prudential Financial’s payout ratio is 88.44%.

Prudential Financial Company 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.