Mizuho Securities USA LLC Has $2.80 Million Stake in Prudential Financial, Inc. (NYSE:PRU)

Mizuho Securities USA LLC lowered its stake in Prudential Financial, Inc. (NYSE:PRU) by 16.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,150 shares of the financial services provider’s stock after selling 4,531 shares during the period. Mizuho Securities USA LLC’s holdings in Prudential Financial were worth $2,803,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Annex Advisory Services LLC raised its position in shares of Prudential Financial by 3.4% during the second quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock worth $289,000 after acquiring an additional 81 shares during the last quarter. Raymond James Trust N.A. raised its holdings in Prudential Financial by 1.1% during the 2nd quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock worth $951,000 after purchasing an additional 87 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its stake in shares of Prudential Financial by 1.2% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock valued at $891,000 after purchasing an additional 89 shares during the last quarter. Quotient Wealth Partners LLC grew its position in shares of Prudential Financial by 3.9% during the 2nd quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock worth $284,000 after buying an additional 92 shares during the period. Finally, Jaffetilchin Investment Partners LLC raised its stake in shares of Prudential Financial by 4.6% during the first quarter. Jaffetilchin Investment Partners LLC now owns 2,131 shares of the financial services provider’s stock worth $250,000 after buying an additional 94 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on PRU shares. Morgan Stanley lowered their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Bank of America upped their price objective on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. TD Cowen began coverage on Prudential Financial in a research report on Wednesday, October 9th. They set a “hold” rating and a $130.00 target price for the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a research report on Wednesday, August 21st. Finally, UBS Group boosted their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Eleven research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $125.69.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of Prudential Financial stock in a transaction dated Tuesday, October 8th. The stock was bought at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the purchase, the insider now owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. The trade was 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. Also, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. This trade represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Prudential Financial Trading Up 1.3 %

PRU opened at $127.92 on Friday. The stock has a market capitalization of $45.54 billion, a P/E ratio of 11.37, a P/E/G ratio of 0.90 and a beta of 1.29. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 12 month low of $94.92 and a 12 month high of $129.13. The firm’s fifty day simple moving average is $123.30 and its 200 day simple moving average is $119.70.

Prudential Financial (NYSE:PRU) last issued 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. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The company had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period in the previous year, the company posted $3.44 earnings per share. As a group, research analysts anticipate that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is currently 46.22%.

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.