Victory Capital Management Inc. reduced its stake in shares of Prudential Financial, Inc. (NYSE:PRU – Free Report) by 18.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 386,371 shares of the financial services provider’s stock after selling 88,633 shares during the quarter. Victory Capital Management Inc. owned 0.11% of Prudential Financial worth $40,082,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Summit Global Investments lifted its stake in shares of Prudential Financial by 1.3% in the second quarter. Summit Global Investments now owns 7,609 shares of the financial services provider’s stock valued at $817,000 after buying an additional 100 shares during the period. Woodward Diversified Capital LLC increased its stake in Prudential Financial by 1.4% during the third quarter. Woodward Diversified Capital LLC now owns 7,662 shares of the financial services provider’s stock valued at $795,000 after acquiring an additional 103 shares during the period. Pitcairn Co. raised its holdings in Prudential Financial by 2.7% in the 2nd quarter. Pitcairn Co. now owns 3,973 shares of the financial services provider’s stock valued at $427,000 after acquiring an additional 104 shares in the last quarter. Moisand Fitzgerald Tamayo LLC lifted its position in shares of Prudential Financial by 20.5% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 642 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 109 shares during the period. Finally, Savant Capital LLC grew its holdings in shares of Prudential Financial by 0.6% during the 2nd quarter. Savant Capital LLC now owns 17,811 shares of the financial services provider’s stock worth $1,914,000 after purchasing an additional 111 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.
Trending Headlines about Prudential Financial
Here are the key news stories impacting Prudential Financial this week:
- Positive Sentiment: Dividend/total-return narratives and bullish dividend-appeal articles remind income-focused investors of PRU’s attractive yield and could support buying interest. Prudential (PRU) Could Be a Great Choice
- Neutral Sentiment: Analyst consensus sits around “Hold” and coverage notes the stock’s recent weakness; this provides little directional catalyst but frames expectations. Prudential Financial, Inc. (NYSE:PRU) Receives Average Recommendation of “Hold” from Analysts
- Neutral Sentiment: Options-market flow has shown elevated activity, signaling increased volatility expectations but not a clear directional bet — watch implied vol and large strikes for clues to near-term moves. Is the Options Market Predicting a Spike in PRU Stock?
- Negative Sentiment: Prudential’s Japanese subsidiary reported employees improperly removed/shared information with contracted agencies — a data-handling incident that creates operational, regulatory and reputational risk in Asia and is a clear near-term negative for sentiment. Prudential Japan Subsidiary Finds Employees Improperly Shared Information
- Negative Sentiment: Follow-ups and regional updates (Prudential Gibraltar/Japan) provide more detail on the scope (multiple seconded employees implicated), reinforcing uncertainty around compliance and potential costs. Prudential Gibraltar Addresses Data Handling Incident in Japan
- Negative Sentiment: Recent analyst moves have trimmed targets: Morgan Stanley cut its PRU price target (and kept an Equal Weight) and Wells Fargo downgraded to Underweight and lowered its target — analyst downgrades reduce buying conviction and can pressure the stock. Morgan Stanley Reduces Prudential Financial (PRU) Price Target after Updating Insurance Estimates
- Negative Sentiment: Wells Fargo’s downgrade and lower target (cites lack of near-term catalysts) adds to the sell-side pressure and helps explain recent share weakness. Wells Fargo Downgrades Prudential Financial, Inc. (PRU) to Underweight and Lowers its Price Target to $103
Prudential Financial Stock Performance
Prudential Financial (NYSE:PRU – Get Free Report) last issued its earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 EPS for the quarter, missing the consensus estimate of $3.37 by ($0.07). Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. The firm had revenue of $15.69 billion during the quarter, compared to analyst estimates of $14.48 billion. During the same quarter in the prior year, the firm posted $2.96 EPS. As a group, analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.
Prudential Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Tuesday, February 17th will be paid a dividend of $1.40 per share. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.35. This represents a $5.60 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Tuesday, February 17th. Prudential Financial’s payout ratio is currently 56.00%.
Insider Activity at Prudential Financial
In other news, major shareholder Insurance Co Of Ame Prudential acquired 1,406,739 shares of the company’s stock in a transaction dated Friday, January 23rd. The stock was bought at an average price of $24.87 per share, with a total value of $34,985,598.93. Following the completion of the acquisition, the insider owned 7,709,624 shares in the company, valued at approximately $191,738,348.88. This represents a 22.32% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jacques Chappuis bought 1,000 shares of Prudential Financial stock in a transaction dated Friday, February 6th. The stock was acquired at an average cost of $100.97 per share, for a total transaction of $100,970.00. Following the completion of the acquisition, the executive vice president directly owned 1,000 shares in the company, valued at $100,970. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 1,408,389 shares of company stock valued at $35,154,439. Insiders own 0.25% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently commented on PRU. Morgan Stanley cut their target price on Prudential Financial from $120.00 to $111.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 3rd. Wall Street Zen lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Evercore restated a “negative” rating on shares of Prudential Financial in a research note on Friday. JPMorgan Chase & Co. decreased their target price on shares of Prudential Financial from $133.00 to $127.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. Finally, Wells Fargo & Company cut shares of Prudential Financial from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $115.00 to $103.00 in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $115.00.
Read Our Latest Analysis on Prudential Financial
Prudential Financial Company Profile
Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.
Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.
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