MetLife Investment Management LLC Sells 2,894 Shares of Prudential Financial, Inc. (NYSE:PRU)

MetLife Investment Management LLC lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 92,868 shares of the financial services provider’s stock after selling 2,894 shares during the period. MetLife Investment Management LLC’s holdings in Prudential Financial were worth $11,246,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PRU. Lynx Investment Advisory bought a new position in shares of Prudential Financial during the 2nd quarter worth $29,000. Ashton Thomas Securities LLC bought a new position in Prudential Financial in the 3rd quarter worth approximately $31,000. Strategic Financial Concepts LLC lifted its position in shares of Prudential Financial by 1,312.4% during the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 25,027 shares in the last quarter. Bank & Trust Co bought a new stake in shares of Prudential Financial during the 2nd quarter valued at $37,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Prudential Financial during the second quarter valued at about $38,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analysts Set New Price Targets

PRU has been the subject of several analyst reports. Morgan Stanley cut their price target on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. UBS Group boosted their price objective on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Barclays increased their price objective on Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods restated a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a research report on Wednesday, August 21st. Finally, TD Cowen raised their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday. Eleven research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $125.92.

Insider Activity

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction on Monday, November 25th. The shares were acquired at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the acquisition, the insider now owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. The trade was a 12.66 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU stock opened at $129.52 on Friday. Prudential Financial, Inc. has a twelve month low of $95.10 and a twelve month high of $130.55. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The business’s fifty day moving average is $124.08 and its 200 day moving average is $120.03. The stock has a market cap of $46.11 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 0.93 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the previous year, the firm earned $3.44 EPS. Research analysts expect that Prudential Financial, Inc. will post 13.35 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s payout ratio is currently 46.22%.

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.