Kentucky Retirement Systems Raises Stake in Prudential Financial, Inc. (NYSE:PRU)

Kentucky Retirement Systems boosted its stake in Prudential Financial, Inc. (NYSE:PRUGet Rating) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,003 shares of the financial services provider’s stock after acquiring an additional 402 shares during the quarter. Kentucky Retirement Systems’ holdings in Prudential Financial were worth $2,490,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PRU. First Horizon Advisors Inc. raised its position in shares of Prudential Financial by 39.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 135,206 shares of the financial services provider’s stock valued at $10,247,000 after purchasing an additional 38,342 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Prudential Financial by 2.4% in the third quarter. CIBC Asset Management Inc now owns 36,050 shares of the financial services provider’s stock worth $3,792,000 after purchasing an additional 860 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Prudential Financial by 15.3% in the third quarter. Mackenzie Financial Corp now owns 111,443 shares of the financial services provider’s stock worth $11,724,000 after purchasing an additional 14,752 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in Prudential Financial by 298.3% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 281,606 shares of the financial services provider’s stock valued at $29,625,000 after buying an additional 210,896 shares in the last quarter. Finally, Eagle Capital Management LLC bought a new position in Prudential Financial during the second quarter valued at about $3,576,000. Hedge funds and other institutional investors own 56.27% of the company’s stock.

Several equities research analysts have recently commented on the company. Credit Suisse Group downgraded Prudential Financial from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $131.00 to $121.00 in a report on Friday, March 25th. Morgan Stanley increased their price objective on Prudential Financial from $114.00 to $123.00 and gave the company an “equal weight” rating in a report on Tuesday, February 22nd. Jefferies Financial Group began coverage on Prudential Financial in a report on Tuesday, January 25th. They set an “underperform” rating and a $93.00 price objective on the stock. StockNews.com began coverage on Prudential Financial in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Barclays lifted their price target on Prudential Financial from $114.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 11th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $113.14.

In other news, EVP Andrew F. Sullivan sold 18,320 shares of Prudential Financial stock in a transaction on Tuesday, February 8th. The shares were sold at an average price of $121.47, for a total transaction of $2,225,330.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Timothy L. Schmidt sold 14,713 shares of Prudential Financial stock in a transaction on Monday, February 7th. The stock was sold at an average price of $120.00, for a total transaction of $1,765,560.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,975 shares of company stock valued at $9,821,709. Company insiders own 0.31% of the company’s stock.

PRU traded up $0.32 during midday trading on Tuesday, reaching $118.82. 5,284 shares of the company were exchanged, compared to its average volume of 2,037,183. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.06 and a current ratio of 0.06. The company’s fifty day moving average price is $114.42 and its 200 day moving average price is $111.69. The company has a market cap of $44.68 billion, a price-to-earnings ratio of 6.11, a price-to-earnings-growth ratio of 1.13 and a beta of 1.53. Prudential Financial, Inc. has a one year low of $94.51 and a one year high of $124.22.

Prudential Financial (NYSE:PRUGet Rating) last posted its quarterly earnings data on Thursday, February 3rd. The financial services provider reported $3.18 EPS for the quarter, beating the consensus estimate of $2.39 by $0.79. The business had revenue of $13.74 billion for the quarter, compared to the consensus estimate of $13.44 billion. Prudential Financial had a return on equity of 9.62% and a net margin of 12.72%. During the same quarter in the prior year, the business earned $2.93 earnings per share. As a group, sell-side analysts anticipate that Prudential Financial, Inc. will post 11.51 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 11th. Investors of record on Tuesday, February 15th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date was Monday, February 14th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.15. Prudential Financial’s dividend payout ratio is currently 24.73%.

Prudential Financial Company Profile (Get Rating)

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 eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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