Prudential Financial, Inc. (NYSE:PRU) Holdings Decreased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its stake in shares of Prudential Financial, Inc. (NYSE:PRUGet Rating) by 4.2% during the first quarter, Holdings Channel.com reports. The firm owned 27,352 shares of the financial services provider’s stock after selling 1,190 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Prudential Financial were worth $3,232,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. raised its position in Prudential Financial by 1.5% in the first quarter. BlackRock Inc. now owns 32,183,900 shares of the financial services provider’s stock worth $3,803,171,000 after acquiring an additional 465,588 shares in the last quarter. Vanguard Group Inc. raised its position in Prudential Financial by 1.9% in the first quarter. Vanguard Group Inc. now owns 31,119,980 shares of the financial services provider’s stock worth $3,677,448,000 after acquiring an additional 577,475 shares in the last quarter. State Street Corp raised its position in Prudential Financial by 1.5% in the first quarter. State Street Corp now owns 18,782,147 shares of the financial services provider’s stock worth $2,219,486,000 after acquiring an additional 282,166 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Prudential Financial by 6.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,353,887 shares of the financial services provider’s stock worth $750,839,000 after acquiring an additional 356,957 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Prudential Financial by 4.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,302,065 shares of the financial services provider’s stock worth $390,205,000 after purchasing an additional 136,133 shares in the last quarter. 57.74% of the stock is currently owned by institutional investors.

Prudential Financial Trading Up 2.7 %

Shares of NYSE PRU opened at $94.43 on Tuesday. The stock has a market cap of $35.13 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 1.02 and a beta of 1.40. The business has a 50 day simple moving average of $97.62 and a 200 day simple moving average of $103.65. Prudential Financial, Inc. has a 52 week low of $89.73 and a 52 week high of $124.22. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.07 and a current ratio of 0.07.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, August 23rd were paid a $1.20 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $4.80 annualized dividend and a dividend yield of 5.08%. Prudential Financial’s payout ratio is 88.89%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PRU shares. Citigroup started coverage on Prudential Financial in a research note on Monday, May 23rd. They issued a “neutral” rating and a $100.00 price target on the stock. Evercore ISI dropped their price target on Prudential Financial to $90.00 in a research note on Tuesday, August 9th. Barclays dropped their price target on Prudential Financial from $115.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 13th. Morgan Stanley lifted their price target on Prudential Financial from $103.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 17th. Finally, Piper Sandler lowered their target price on Prudential Financial from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, July 8th. Two equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $104.83.

Prudential Financial Profile

(Get Rating)

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.

Further Reading

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:PRUGet Rating).

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

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