Prudential Financial, Inc. $PRU Stock: International Assets Investment Management LLC Cuts Position

International Assets Investment Management LLC cut its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 94.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,334 shares of the financial services provider’s stock after selling 130,758 shares during the quarter. International Assets Investment Management LLC’s holdings in Prudential Financial were worth $943,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PRU. Orca Investment Management LLC acquired a new position in Prudential Financial in the second quarter valued at approximately $2,605,000. Jones Financial Companies Lllp raised its holdings in Prudential Financial by 21.3% during the second quarter. Jones Financial Companies Lllp now owns 58,436 shares of the financial services provider’s stock worth $6,325,000 after purchasing an additional 10,257 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Prudential Financial by 2.7% during the second quarter. Envestnet Asset Management Inc. now owns 739,294 shares of the financial services provider’s stock worth $79,792,000 after purchasing an additional 19,451 shares in the last quarter. Raiffeisen Bank International AG lifted its position in shares of Prudential Financial by 7.3% during the 2nd quarter. Raiffeisen Bank International AG now owns 91,566 shares of the financial services provider’s stock worth $9,999,000 after buying an additional 6,237 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Prudential Financial by 379.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 619,701 shares of the financial services provider’s stock worth $66,884,000 after buying an additional 490,553 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Ann Kappler sold 7,652 shares of Prudential Financial stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $125.01, for a total value of $956,576.52. Following the transaction, the executive vice president directly owned 14,407 shares in the company, valued at approximately $1,801,019.07. This trade represents a 34.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.05% of the company’s stock.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $122.24 on Tuesday. Prudential Financial, Inc. has a one year low of $91.89 and a one year high of $128.78. The stock has a market capitalization of $42.17 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 2.12 and a beta of 0.85. The company has a 50-day simple moving average of $117.03 and a 200-day simple moving average of $109.03. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.16 and a current ratio of 0.17.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.44. The firm had revenue of $14.45 billion for the quarter, compared to analyst estimates of $14.66 billion. Prudential Financial had a return on equity of 16.38% and a net margin of 6.75%. During the same quarter last year, the company posted $4.26 earnings per share. On average, analysts predict that Prudential Financial, Inc. will post 13.54 EPS for the current year.

Wall Street Analyst Weigh In

PRU has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of Prudential Financial from $123.00 to $119.00 and set a “market perform” rating on the stock in a research report on Friday, October 16th. Zacks Research downgraded shares of Prudential Financial from a “hold” rating to a “strong sell” rating in a research note on Friday, October 23rd. Morgan Stanley dropped their price objective on Prudential Financial from $105.00 to $100.00 and set an “underweight” rating on the stock in a report on Monday, October 19th. Barclays lifted their target price on Prudential Financial from $94.00 to $98.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 4th. Finally, JPMorgan Chase & Co. reduced their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, October 22nd. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, Prudential Financial has a consensus rating of “Reduce” and a consensus target price of $112.40.

Prudential Financial Company Profile

Prudential Financial, Inc is a financial services company headquartered in Newark, New Jersey. Founded in 1875 as the Prudential Friendly Society, it has grown into a provider of insurance, retirement and investment services.

The company offers life insurance, annuities, workplace benefits and retirement-related products and services. Through its asset management businesses, Prudential also serves individual and institutional investors.

Prudential serves customers in the United States and operates internationally, with a significant presence in Japan and other markets.