Angeles Investment Advisors LLC Lowers Position in Prudential Financial, Inc. (NYSE:PRU)

Angeles Investment Advisors LLC reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 12.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,158 shares of the financial services provider’s stock after selling 439 shares during the period. Angeles Investment Advisors LLC’s holdings in Prudential Financial were worth $374,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Prudential Financial by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider’s stock worth $4,960,547,000 after acquiring an additional 220,671 shares during the last quarter. State Street Corp lifted its stake in Prudential Financial by 0.3% during the third quarter. State Street Corp now owns 17,007,013 shares of the financial services provider’s stock worth $2,059,549,000 after purchasing an additional 49,830 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Prudential Financial by 4.1% during the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock worth $1,047,872,000 after buying an additional 341,787 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Prudential Financial by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider’s stock valued at $370,327,000 after buying an additional 47,561 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Prudential Financial by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,454,278 shares of the financial services provider’s stock valued at $290,906,000 after buying an additional 6,938 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods dropped their target price on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. Wells Fargo & Company upped their price objective on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Jefferies Financial Group lifted their target price on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. TD Cowen increased their price target on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Finally, Morgan Stanley lowered their price objective on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $126.15.

Prudential Financial Stock Down 0.4 %

PRU stock opened at $110.35 on Monday. The company’s 50 day moving average is $113.57 and its two-hundred day moving average is $119.03. Prudential Financial, Inc. has a twelve month low of $104.45 and a twelve month high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock has a market cap of $39.51 billion, a P/E ratio of 14.77, a PEG ratio of 0.98 and a beta of 1.28.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were given a dividend of $1.35 per share. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 annualized dividend and a yield of 4.89%. Prudential Financial’s payout ratio is 72.29%.

Insider Activity at Prudential Financial

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the transaction, the executive vice president now owns 27,072 shares of the company’s stock, valued at $2,869,090.56. This represents a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the acquisition, the insider now directly owns 87,047 shares in the company, valued at approximately $2,499,989.84. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.31% of the stock is owned by 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.