Prudential Financial, Inc. $PRU Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lowered its holdings in Prudential Financial, Inc. (NYSE:PRU) by 44.7% in the third quarter, Holdings Channel.com reports. The fund owned 29,555 shares of the financial services provider’s stock after selling 23,853 shares during the quarter. QRG Capital Management Inc.’s holdings in Prudential Financial were worth $3,066,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its stake in shares of Prudential Financial by 3.7% in the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 133 shares during the period. Empowered Funds LLC grew its position in Prudential Financial by 30.5% during the first quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock worth $1,976,000 after buying an additional 4,134 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Prudential Financial by 6.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 84,772 shares of the financial services provider’s stock valued at $9,247,000 after buying an additional 4,884 shares in the last quarter. My Legacy Advisors LLC acquired a new stake in shares of Prudential Financial during the 2nd quarter valued at approximately $310,000. Finally, Silver Oak Securities Incorporated acquired a new stake in shares of Prudential Financial in the 2nd quarter worth approximately $200,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Prudential Financial

In other Prudential Financial news, Chairman Charles F. Lowrey sold 48,164 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $107.39, for a total value of $5,172,331.96. Following the sale, the chairman directly owned 165,564 shares of the company’s stock, valued at approximately $17,779,917.96. This trade represents a 22.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Caroline Feeney sold 6,555 shares of Prudential Financial stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $116.28, for a total value of $762,215.40. Following the completion of the sale, the executive vice president owned 22,523 shares of the company’s stock, valued at $2,618,974.44. This trade represents a 22.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 62,719 shares of company stock worth $6,796,067 over the last quarter. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PRU has been the subject of several research reports. Weiss Ratings raised Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Barclays cut their price target on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Evercore ISI boosted their price objective on shares of Prudential Financial from $120.00 to $122.00 and gave the stock an “in-line” rating in a research report on Thursday, October 30th. Wall Street Zen downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, UBS Group upped their price target on shares of Prudential Financial from $111.00 to $116.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Prudential Financial presently has a consensus rating of “Hold” and a consensus target price of $118.80.

Prudential Financial Trading Down 4.0%

Shares of PRU stock opened at $111.76 on Monday. The company has a market capitalization of $39.11 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 0.89 and a beta of 0.97. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $112.09 and a 200 day moving average price of $107.20. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $123.88.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $4.26 EPS for the quarter, topping analysts’ consensus estimates of $3.72 by $0.54. The business had revenue of $17.89 billion during the quarter, compared to the consensus estimate of $13.77 billion. Prudential Financial had a net margin of 4.65% and a return on equity of 16.60%. During the same period in the previous year, the firm posted $3.48 earnings per share. Research analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Tuesday, November 18th. Prudential Financial’s dividend payout ratio is currently 74.18%.

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.