Victory Capital Management Inc. Has $27.44 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Victory Capital Management Inc. lessened its position in Prudential Financial, Inc. (NYSE:PRU) by 1.5% in the fourth quarter, HoldingsChannel reports. The fund owned 264,613 shares of the financial services provider’s stock after selling 4,115 shares during the quarter. Victory Capital Management Inc.’s holdings in Prudential Financial were worth $27,443,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lindbrook Capital LLC raised its holdings in Prudential Financial by 38.1% during the third quarter. Lindbrook Capital LLC now owns 1,134 shares of the financial services provider’s stock worth $108,000 after buying an additional 313 shares during the last quarter. Mackenzie Financial Corp lifted its position in Prudential Financial by 7.3% in the 3rd quarter. Mackenzie Financial Corp now owns 44,435 shares of the financial services provider’s stock valued at $4,059,000 after acquiring an additional 3,036 shares in the last quarter. Brighton Jones LLC boosted its stake in Prudential Financial by 9.2% during the 3rd quarter. Brighton Jones LLC now owns 3,017 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 254 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in Prudential Financial by 0.8% during the 3rd quarter. IFM Investors Pty Ltd now owns 84,482 shares of the financial services provider’s stock worth $8,016,000 after purchasing an additional 711 shares in the last quarter. Finally, Park Avenue Securities LLC purchased a new stake in shares of Prudential Financial in the third quarter worth approximately $669,000. Institutional investors own 56.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. TheStreet upgraded Prudential Financial from a “c+” rating to an “a-” rating in a report on Tuesday, February 6th. Raymond James lowered shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. Wells Fargo & Company increased their price objective on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. Morgan Stanley upped their target price on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Finally, Keefe, Bruyette & Woods lifted their price target on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $111.08.

Prudential Financial Stock Performance

NYSE:PRU opened at $116.23 on Wednesday. The company has a market capitalization of $41.73 billion, a P/E ratio of 19.77, a P/E/G ratio of 0.83 and a beta of 1.35. The business has a fifty day simple moving average of $112.48 and a two-hundred day simple moving average of $104.78. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial, Inc. has a 1 year low of $77.87 and a 1 year high of $118.69.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share for the quarter, missing the consensus estimate of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The firm had revenue of $15.01 billion during the quarter, compared to analysts’ expectations of $14.50 billion. During the same period last year, the business posted $2.66 EPS. The company’s revenue was up 69.9% compared to the same quarter last year. On average, analysts expect that Prudential Financial, Inc. will post 13.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.47%. Prudential Financial’s dividend payout ratio (DPR) is currently 88.44%.

Insider Activity at Prudential Financial

In related news, EVP Andrew F. Sullivan sold 7,685 shares of Prudential Financial stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total value of $857,415.45. Following the completion of the transaction, the executive vice president now directly owns 13,691 shares in the company, valued at approximately $1,527,504.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Prudential Financial news, EVP Andrew F. Sullivan sold 7,685 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total value of $857,415.45. Following the completion of the transaction, the executive vice president now owns 13,691 shares in the company, valued at approximately $1,527,504.87. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Robert Axel sold 6,436 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total value of $719,930.96. Following the sale, the senior vice president now owns 7,901 shares in the company, valued at $883,805.86. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,255 shares of company stock worth $3,215,664. 0.34% of the stock is owned by corporate insiders.

Prudential Financial Company Profile

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 PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.