Oregon Public Employees Retirement Fund Grows Stock Position in Prudential Financial, Inc. $PRU

Oregon Public Employees Retirement Fund raised its position in Prudential Financial, Inc. (NYSE:PRU) by 31.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 40,254 shares of the financial services provider’s stock after acquiring an additional 9,741 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Prudential Financial were worth $4,176,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Proffitt & Goodson Inc. boosted its position in shares of Prudential Financial by 12.7% during the 2nd quarter. Proffitt & Goodson Inc. now owns 871 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 98 shares in the last quarter. Summit Global Investments raised its holdings in Prudential Financial by 1.3% during the second quarter. Summit Global Investments now owns 7,609 shares of the financial services provider’s stock worth $817,000 after purchasing an additional 100 shares during the last quarter. Thrive Wealth Management LLC boosted its position in Prudential Financial by 2.6% during the second quarter. Thrive Wealth Management LLC now owns 4,007 shares of the financial services provider’s stock worth $430,000 after purchasing an additional 101 shares in the last quarter. Woodward Diversified Capital LLC grew its holdings in Prudential Financial by 1.4% in the third quarter. Woodward Diversified Capital LLC now owns 7,662 shares of the financial services provider’s stock valued at $795,000 after purchasing an additional 103 shares during the last quarter. Finally, Pitcairn Co. increased its position in shares of Prudential Financial by 2.7% in the second quarter. Pitcairn Co. now owns 3,973 shares of the financial services provider’s stock valued at $427,000 after buying an additional 104 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Activity at Prudential Financial

In other Prudential Financial news, Chairman Charles F. Lowrey sold 48,164 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the completion of the transaction, the chairman directly owned 165,564 shares of the company’s stock, valued at $17,779,917.96. The trade was a 22.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Caroline Feeney sold 6,555 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $116.28, for a total transaction of $762,215.40. Following the completion of the transaction, the executive vice president owned 22,523 shares of the company’s stock, valued at approximately $2,618,974.44. This trade represents a 22.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 62,719 shares of company stock worth $6,796,067 in the last ninety days. 0.25% of the stock is owned by insiders.

Prudential Financial Price Performance

PRU opened at $118.13 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The company’s 50-day moving average price is $111.00 and its 200 day moving average price is $106.90. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $123.88. The firm has a market cap of $41.35 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 0.94 and a beta of 0.97.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The business had revenue of $8.35 billion for the quarter. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%. As a group, sell-side analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, November 18th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Tuesday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is 74.18%.

Analyst Upgrades and Downgrades

PRU has been the topic of a number of research reports. Morgan Stanley increased their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Barclays decreased their price target on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Mizuho assumed coverage on shares of Prudential Financial in a research report on Tuesday, December 16th. They issued a “neutral” rating and a $125.00 price objective for the company. Wolfe Research assumed coverage on shares of Prudential Financial in a research report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Finally, Wall Street Zen downgraded Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday. Eleven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Prudential Financial currently has a consensus rating of “Reduce” and a consensus target price of $118.60.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.