Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd reduced its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 30.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,513 shares of the financial services provider's stock after selling 22,238 shares during the quarter. Dai ichi Life Insurance Company Ltd's holdings in Prudential Financial were worth $6,238,000 at the end of the most recent quarter.

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Several other large investors have also recently added to or reduced their stakes in PRU. Price T Rowe Associates Inc. MD increased its position in Prudential Financial by 0.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 498,247 shares of the financial services provider's stock valued at $58,495,000 after acquiring an additional 2,001 shares during the period. Bayesian Capital Management LP bought a new position in Prudential Financial during the 1st quarter valued at $247,000. Janus Henderson Group PLC boosted its stake in Prudential Financial by 49.5% during the 1st quarter. Janus Henderson Group PLC now owns 80,148 shares of the financial services provider's stock valued at $9,409,000 after purchasing an additional 26,520 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in Prudential Financial by 3.9% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 25,121 shares of the financial services provider's stock valued at $2,949,000 after purchasing an additional 932 shares in the last quarter. Finally, Creekmur Asset Management LLC boosted its stake in Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 108 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Trading Up 0.3 %

Shares of NYSE:PRU opened at $129.11 on Wednesday. The company has a market cap of $45.96 billion, a P/E ratio of 11.48, a P/E/G ratio of 0.91 and a beta of 1.29. The stock's 50-day moving average is $123.72 and its 200-day moving average is $119.89. Prudential Financial, Inc. has a 52-week low of $94.92 and a 52-week high of $129.69. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14.

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Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.01. The company had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period last year, the business posted $3.44 earnings per share. Equities research analysts predict that Prudential Financial, Inc. will post 13.33 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date is Tuesday, November 19th. Prudential Financial's dividend payout ratio (DPR) is presently 46.22%.

Analyst Ratings Changes

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A number of brokerages have issued reports on PRU. TD Cowen assumed coverage on Prudential Financial in a research note on Wednesday, October 9th. They set a "hold" rating and a $130.00 price target for the company. Morgan Stanley reduced their price objective on Prudential Financial from $123.00 to $122.00 and set an "equal weight" rating for the company in a research note on Monday, August 19th. Bank of America raised their price objective on Prudential Financial from $109.00 to $118.00 and gave the stock a "neutral" rating in a research note on Thursday, October 10th. UBS Group raised their price objective on Prudential Financial from $112.00 to $119.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 13th. Finally, Argus raised Prudential Financial to a "strong-buy" rating in a research note on Thursday, August 8th. Eleven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $125.69.

View Our Latest Research Report on PRU

Insider Buying and Selling

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now directly owns 10,175 shares of the company's stock, valued at approximately $1,220,694.75. The trade was a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the firm's stock in a transaction on Tuesday, October 8th. The shares were bought at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the acquisition, the insider now directly owns 4,208,549 shares of the company's stock, valued at approximately $116,071,781.42. This represents a 6.61 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

Prudential Financial 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.

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