Prudential Financial, Inc. $PRU Stock Purchased by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 21.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,826 shares of the financial services provider’s stock after buying an additional 17,862 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Prudential Financial were worth $11,565,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PRU. Team Financial Group LLC purchased a new position in shares of Prudential Financial in the 3rd quarter valued at $27,000. Archer Investment Corp acquired a new stake in Prudential Financial in the 2nd quarter valued at $26,000. Heritage Family Offices LLP purchased a new position in Prudential Financial in the third quarter valued at about $33,000. MADDEN SECURITIES Corp purchased a new position in Prudential Financial in the third quarter valued at about $38,000. Finally, Center for Financial Planning Inc. lifted its stake in shares of Prudential Financial by 90.4% during the third quarter. Center for Financial Planning Inc. now owns 339 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 161 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Key Prudential Financial News

Here are the key news stories impacting Prudential Financial this week:

• Positive Sentiment: Prudential declared a quarterly common-stock dividend of $1.40 per share, payable December 10 to shareholders of record November 24. The payout may support PRU’s appeal to income-focused investors; the announcement did not specify a dividend increase. Dividend announcement
• Negative Sentiment: Three executives sold a combined 9,135 shares on November 6 for roughly $1.11 million. CEO Andrew F. Sullivan sold 3,544 shares; EVP Ann Kappler sold 2,797; and SVP Robert E. Boyle sold 2,794. The transactions may weigh on sentiment, though the filings do not state the executives’ reasons. Read More., Read More., Read More.

Insider Transactions at Prudential Financial

In related news, CEO Andrew F. Sullivan sold 3,544 shares of Prudential Financial stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $121.32, for a total value of $429,958.08. Following the completion of the transaction, the chief executive officer directly owned 50,317 shares in the company, valued at approximately $6,104,458.44. This trade represents a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann Kappler sold 7,652 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $125.01, for a total value of $956,576.52. Following the completion of the sale, the executive vice president directly owned 14,407 shares of the company’s stock, valued at approximately $1,801,019.07. This represents a 34.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 16,787 shares of company stock valued at $2,062,597. Insiders own 0.05% of the company’s stock.

Wall Street Analyst Weigh In

PRU has been the subject of a number of recent research reports. Barclays increased their target price on Prudential Financial from $94.00 to $98.00 and gave the company an “underweight” rating in a research note on Wednesday, November 4th. JPMorgan Chase & Co. decreased their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, October 22nd. Wells Fargo & Company lowered their price objective on shares of Prudential Financial from $104.00 to $103.00 and set an “underweight” rating for the company in a research report on Wednesday, October 28th. Wall Street Zen downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Monday, September 28th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Prudential Financial from $105.00 to $102.00 and set a “hold” rating for the company in a report on Friday, October 23rd. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, Prudential Financial presently has an average rating of “Reduce” and a consensus price target of $112.40.

Prudential Financial Price Performance

PRU stock opened at $123.38 on Wednesday. The company has a market capitalization of $42.32 billion, a PE ratio of 11.23, a P/E/G ratio of 1.93 and a beta of 0.85. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average is $117.14 and its two-hundred day moving average is $109.10. Prudential Financial, Inc. has a 52-week low of $91.89 and a 52-week high of $128.78.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.44. The business had revenue of $14.45 billion during the quarter, compared to analyst estimates of $14.66 billion. Prudential Financial had a net margin of 6.75% and a return on equity of 16.38%. During the same quarter in the previous year, the firm earned $4.26 earnings per share. Analysts predict that Prudential Financial, Inc. will post 13.60 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Tuesday, November 24th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Tuesday, November 24th. Prudential Financial’s dividend payout ratio is 50.96%.

Prudential Financial Profile

Prudential Financial, Inc. is a financial services company headquartered in Newark, New Jersey. Founded in 1875 as the Prudential Friendly Society, it has grown into a provider of insurance, retirement and investment services. The company offers life insurance, annuities, workplace benefits and retirement-related products and services. Through its asset management businesses, Prudential also serves individual and institutional investors. Prudential serves customers in the United States and operates internationally, with a significant presence in Japan and other markets.