Teacher Retirement System of Texas Sells 15,718 Shares of Prudential Financial, Inc. $PRU

Teacher Retirement System of Texas cut its stake in Prudential Financial, Inc. (NYSE:PRU) by 25.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,391 shares of the financial services provider’s stock after selling 15,718 shares during the period. Teacher Retirement System of Texas’ holdings in Prudential Financial were worth $4,813,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mattson Financial Services LLC grew its holdings in Prudential Financial by 312.8% in the third quarter. Mattson Financial Services LLC now owns 12,119 shares of the financial services provider’s stock worth $1,257,000 after purchasing an additional 9,183 shares during the period. First Horizon Corp purchased a new stake in shares of Prudential Financial in the 3rd quarter worth approximately $5,856,000. Econ Financial Services Corp bought a new position in Prudential Financial during the 2nd quarter valued at approximately $1,662,000. Capital Advisors Inc. OK raised its stake in Prudential Financial by 28.4% during the third quarter. Capital Advisors Inc. OK now owns 384,404 shares of the financial services provider’s stock valued at $39,878,000 after buying an additional 85,072 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Prudential Financial by 31.9% in the third quarter. Oregon Public Employees Retirement Fund now owns 40,254 shares of the financial services provider’s stock worth $4,176,000 after acquiring an additional 9,741 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other news, Chairman Charles F. Lowrey sold 48,164 shares of Prudential Financial stock in a transaction on Monday, November 10th. The shares were sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the transaction, the chairman owned 165,564 shares in the company, valued at $17,779,917.96. This trade represents a 22.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 1,406,739 shares of Prudential Financial 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 purchase, the insider directly owned 7,709,624 shares in the company, valued at $191,738,348.88. This represents a 22.32% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 62,719 shares of company stock valued at $6,796,067 over the last three months. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Piper Sandler raised their price target on Prudential Financial from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, December 23rd. UBS Group raised their price objective on shares of Prudential Financial from $111.00 to $116.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Weiss Ratings upgraded shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Mizuho assumed coverage on shares of Prudential Financial in a research report on Tuesday, December 16th. They set a “neutral” rating and a $125.00 price target for the company. Finally, Wells Fargo & Company boosted their price objective on shares of Prudential Financial from $113.00 to $115.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. One equities research analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $120.78.

Prudential Financial Stock Down 1.4%

Shares of Prudential Financial stock opened at $107.42 on Wednesday. The company has a market cap of $37.60 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 1.21 and a beta of 0.97. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $123.88. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $112.49 and its 200 day moving average is $107.26.

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

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 5.0%. 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.