TIAA Trust National Association Has $446,000 Position in Prudential Financial, Inc. (NYSE:PRU)

TIAA Trust National Association cut its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,762 shares of the financial services provider’s stock after selling 108 shares during the period. TIAA Trust National Association’s holdings in Prudential Financial were worth $446,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PRU. Vanguard Group Inc. boosted its position in Prudential Financial by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider’s stock worth $4,960,547,000 after purchasing an additional 220,671 shares during the period. State Street Corp lifted its stake in shares of Prudential Financial by 0.3% during the 3rd quarter. State Street Corp now owns 17,007,013 shares of the financial services provider’s stock worth $2,059,549,000 after buying an additional 49,830 shares during the last quarter. Geode Capital Management LLC grew its stake in Prudential Financial by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock valued at $1,047,872,000 after buying an additional 341,787 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Prudential Financial by 1.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider’s stock valued at $370,327,000 after acquiring an additional 47,561 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Prudential Financial by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,454,278 shares of the financial services provider’s stock worth $290,906,000 after acquiring an additional 6,938 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were bought at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the acquisition, the insider now owns 139,987 shares in the company, valued at approximately $3,992,429.24. This trade represents a 60.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the transaction, the executive vice president now directly owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PRU shares. Wells Fargo & Company increased their target price on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. BMO Capital Markets started coverage on Prudential Financial in a research report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective on the stock. Jefferies Financial Group boosted their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Morgan Stanley lowered their price target on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Finally, Barclays increased their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $126.15.

Prudential Financial Stock Down 3.9 %

Shares of PRU opened at $109.94 on Friday. The firm has a 50 day simple moving average of $113.09 and a two-hundred day simple moving average of $118.92. The company has a market cap of $39.36 billion, a P/E ratio of 14.72, a P/E/G ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a one year low of $104.45 and a one year high of $130.55. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. Research analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date was Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is presently 72.29%.

About Prudential Financial

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.