Teacher Retirement System of Texas Decreases Holdings in Prudential Financial, Inc. $PRU

Teacher Retirement System of Texas decreased its position in Prudential Financial, Inc. (NYSE:PRU) by 9.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 62,109 shares of the financial services provider’s stock after selling 6,448 shares during the quarter. Teacher Retirement System of Texas’ holdings in Prudential Financial were worth $6,673,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. raised its position in Prudential Financial by 90.2% in the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 111 shares during the period. Cheviot Value Management LLC bought a new position in shares of Prudential Financial during the 1st quarter valued at approximately $26,000. North Capital Inc. purchased a new position in Prudential Financial during the first quarter valued at approximately $28,000. AlphaQuest LLC increased its stake in shares of Prudential Financial by 12,250.0% in the first quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 245 shares in the last quarter. Finally, Clearstead Trust LLC increased its stake in Prudential Financial by 350.8% in the 1st quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock worth $30,000 after buying an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $102.97 on Friday. The firm has a market capitalization of $36.25 billion, a P/E ratio of 14.14, a PEG ratio of 0.88 and a beta of 1.04. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average price of $104.29 and a 200 day moving average price of $104.28.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.98%. The business had revenue of $8.35 billion during the quarter. Sell-side analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were issued a $1.35 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 annualized dividend and a yield of 5.2%. Prudential Financial’s payout ratio is 119.73%.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the transaction, the executive vice president owned 21,506 shares of the company’s stock, valued at $2,358,132.90. This represents a 15.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on PRU. JPMorgan Chase & Co. increased their price objective on shares of Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Wolfe Research initiated coverage on Prudential Financial in a research note on Tuesday, September 16th. They set a “peer perform” rating on the stock. Barclays cut their price objective on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Piper Sandler dropped their price objective on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a report on Wednesday, July 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prudential Financial in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $120.64.

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.