TD Asset Management Inc Sells 3,158 Shares of Prudential Financial, Inc. (NYSE:PRU)

TD Asset Management Inc lessened its holdings in Prudential Financial, Inc. (NYSE:PRU) by 2.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 120,883 shares of the financial services provider’s stock after selling 3,158 shares during the quarter. TD Asset Management Inc’s holdings in Prudential Financial were worth $10,664,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Fairfield Bush & CO. bought a new position in Prudential Financial during the 1st quarter worth approximately $36,000. Blair William & Co. IL boosted its stake in Prudential Financial by 11.3% during the 1st quarter. Blair William & Co. IL now owns 50,600 shares of the financial services provider’s stock worth $5,979,000 after acquiring an additional 5,126 shares during the last quarter. Sei Investments Co. boosted its stake in Prudential Financial by 6.4% during the 1st quarter. Sei Investments Co. now owns 90,235 shares of the financial services provider’s stock worth $10,698,000 after acquiring an additional 5,452 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its stake in Prudential Financial by 0.7% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 47,576 shares of the financial services provider’s stock worth $5,621,000 after acquiring an additional 326 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its stake in Prudential Financial by 36.4% during the 1st quarter. Baird Financial Group Inc. now owns 135,716 shares of the financial services provider’s stock worth $16,037,000 after acquiring an additional 36,184 shares during the last quarter. Institutional investors own 54.92% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU opened at $95.75 on Monday. The company has a market cap of $34.57 billion, a price-to-earnings ratio of 61.77, a PEG ratio of 0.77 and a beta of 1.39. Prudential Financial, Inc. has a 1-year low of $75.37 and a 1-year high of $108.83. The company’s fifty day simple moving average is $93.77 and its 200 day simple moving average is $90.62. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.70.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, November 1st. The financial services provider reported $3.44 earnings per share for the quarter, topping analysts’ consensus estimates of $3.16 by $0.28. The business had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $12.91 billion. Prudential Financial had a net margin of 1.21% and a return on equity of 16.03%. During the same period in the previous year, the company earned $2.13 earnings per share. On average, research analysts forecast that Prudential Financial, Inc. will post 11.71 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Tuesday, November 21st will be given a dividend of $1.25 per share. The ex-dividend date is Monday, November 20th. This represents a $5.00 dividend on an annualized basis and a yield of 5.22%. Prudential Financial’s dividend payout ratio (DPR) is 322.58%.

Analyst Ratings Changes

A number of research analysts have weighed in on PRU shares. Raymond James raised shares of Prudential Financial from a “market perform” rating to a “strong-buy” rating and set a $125.00 price target on the stock in a research note on Thursday, August 24th. StockNews.com started coverage on shares of Prudential Financial in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Morgan Stanley lifted their price target on shares of Prudential Financial from $103.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 15th. JPMorgan Chase & Co. cut their price target on shares of Prudential Financial from $121.00 to $119.00 and set an “overweight” rating on the stock in a research note on Friday, October 6th. Finally, Jefferies Financial Group raised shares of Prudential Financial from an “underperform” rating to a “hold” rating and lifted their price target for the company from $70.00 to $93.00 in a research note on Wednesday, September 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $103.00.

About Prudential Financial

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 Annuities, Individual Life, Assurance IQ, and International Businesses segments.