Teacher Retirement System of Texas Trims Stake in Prudential Financial, Inc. (PRU)

Teacher Retirement System of Texas cut its position in Prudential Financial, Inc. (NYSE:PRU) by 23.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,259 shares of the financial services provider’s stock after selling 20,102 shares during the period. Teacher Retirement System of Texas’ holdings in Prudential Financial were worth $7,045,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Prudential Financial by 2.9% in the 2nd quarter. BlackRock Inc. now owns 33,155,309 shares of the financial services provider’s stock valued at $3,585,415,000 after buying an additional 934,352 shares during the period. Vanguard Group Inc. lifted its position in Prudential Financial by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 30,885,285 shares of the financial services provider’s stock valued at $3,339,935,000 after acquiring an additional 612,799 shares in the last quarter. Capital Research Global Investors lifted its position in Prudential Financial by 1.2% in the 2nd quarter. Capital Research Global Investors now owns 13,662,673 shares of the financial services provider’s stock valued at $1,477,481,000 after acquiring an additional 162,833 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Prudential Financial by 11.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,157,881 shares of the financial services provider’s stock valued at $449,637,000 after acquiring an additional 442,168 shares in the last quarter. Finally, LSV Asset Management lifted its position in Prudential Financial by 1.0% in the 2nd quarter. LSV Asset Management now owns 3,372,864 shares of the financial services provider’s stock valued at $364,741,000 after acquiring an additional 32,998 shares in the last quarter. Institutional investors own 64.48% of the company’s stock.

Several brokerages recently weighed in on PRU. BidaskClub raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a research report on Friday, August 11th. B. Riley reaffirmed a “buy” rating on shares of Prudential Financial in a research report on Monday, November 6th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a research report on Thursday, August 3rd. Finally, Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a research report on Tuesday, October 10th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $115.64.

ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by TrueBlueTribune and is owned by of TrueBlueTribune. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of United States & international trademark & copyright law. The legal version of this piece of content can be accessed at https://www.truebluetribune.com/2017/11/19/teacher-retirement-system-of-texas-trims-stake-in-prudential-financial-inc-pru.html.

In related news, insider Nicholas C. Silitch sold 44,860 shares of Prudential Financial stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $111.77, for a total value of $5,014,002.20. Following the completion of the transaction, the insider now directly owns 27,927 shares in the company, valued at approximately $3,121,400.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Charles F. Lowrey sold 44,630 shares of Prudential Financial stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $111.91, for a total transaction of $4,994,543.30. Following the completion of the transaction, the executive vice president now owns 79,354 shares of the company’s stock, valued at $8,880,506.14. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Shares of Prudential Financial, Inc. (NYSE:PRU) opened at $110.25 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a one year low of $97.88 and a one year high of $115.26. The stock has a market cap of $46,746.00, a P/E ratio of 10.65, a PEG ratio of 1.25 and a beta of 1.56.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.30. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. The business had revenue of $13.36 billion during the quarter, compared to analyst estimates of $12.24 billion. During the same period in the previous year, the business earned $2.66 EPS. research analysts expect that Prudential Financial, Inc. will post 10.38 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Monday, November 27th will be paid a $0.75 dividend. The ex-dividend date is Friday, November 24th. This represents a $3.00 dividend on an annualized basis and a yield of 2.72%. Prudential Financial’s dividend payout ratio is 30.18%.

Prudential Financial Profile

Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.

Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial, Inc. (NYSE:PRU).

Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

Receive News & Ratings for Prudential Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply