Prudential Financial, Inc. $PRU Stock Bought by International Assets Investment Management LLC

International Assets Investment Management LLC increased its position in Prudential Financial, Inc. (NYSE:PRU) by 17.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,773 shares of the financial services provider’s stock after buying an additional 24,681 shares during the quarter. International Assets Investment Management LLC’s holdings in Prudential Financial were worth $18,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of PRU. Prosperitas Financial LLC lifted its holdings in shares of Prudential Financial by 4.6% in the 3rd quarter. Prosperitas Financial LLC now owns 2,186 shares of the financial services provider’s stock worth $248,000 after acquiring an additional 96 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in shares of Prudential Financial by 7.1% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 205,762 shares of the financial services provider’s stock valued at $23,370,000 after purchasing an additional 13,600 shares in the last quarter. Partners Wealth Management LLC purchased a new stake in shares of Prudential Financial in the 3rd quarter valued at $1,410,000. Soltis Investment Advisors LLC bought a new position in shares of Prudential Financial during the 3rd quarter valued at $672,000. Finally, Sterling Financial Planning Inc. bought a new position in shares of Prudential Financial during the 3rd quarter valued at $209,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Activity

In related news, EVP Ann Kappler sold 7,652 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $125.01, for a total value of $956,576.52. Following the sale, the executive vice president directly owned 14,407 shares of the company’s stock, valued at $1,801,019.07. This trade represents a 34.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.05% of the stock is owned by insiders.

Prudential Financial Trading Down 0.4%

NYSE:PRU opened at $116.35 on Friday. The firm has a market capitalization of $40.14 billion, a P/E ratio of 10.54, a P/E/G ratio of 1.95 and a beta of 0.85. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average of $116.96 and a 200 day moving average of $108.79. Prudential Financial, Inc. has a 52 week low of $91.89 and a 52 week high of $127.72.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.52 by $0.56. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.36 billion. During the same quarter last year, the firm earned $3.58 EPS. On average, research analysts predict that Prudential Financial, Inc. will post 13.51 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Tuesday, August 25th. Prudential Financial’s dividend payout ratio is currently 50.72%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Evercore lowered their price target on shares of Prudential Financial from $110.00 to $106.00 in a research note on Friday, October 9th. Keefe, Bruyette & Woods reduced their price objective on Prudential Financial from $123.00 to $119.00 and set a “market perform” rating on the stock in a research note on Friday, October 16th. Deutsche Bank Aktiengesellschaft decreased their price objective on Prudential Financial from $105.00 to $102.00 and set a “hold” rating on the stock in a report on Friday, October 23rd. Jefferies Financial Group lowered their target price on Prudential Financial from $116.00 to $109.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Finally, TD Cowen dropped their target price on Prudential Financial from $114.00 to $112.00 and set a “hold” rating for the company in a report on Wednesday, October 21st. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $111.27.

Prudential Financial Profile

Prudential Financial, Inc (NYSE: PRU) is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in Newark, New Jersey, in 1875, the company serves individuals, businesses and institutional investors through a range of businesses and distribution channels.

In the United States, Prudential offers life insurance, annuities, retirement plans and employee benefits, including group life, disability and dental insurance.