Securian Asset Management Inc. Cuts Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Securian Asset Management Inc. trimmed its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,133 shares of the financial services provider’s stock after selling 612 shares during the period. Securian Asset Management Inc.’s holdings in Prudential Financial were worth $2,268,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Truvestments Capital LLC lifted its stake in Prudential Financial by 26.4% in the 4th quarter. Truvestments Capital LLC now owns 1,130 shares of the financial services provider’s stock valued at $134,000 after buying an additional 236 shares in the last quarter. Bare Financial Services Inc acquired a new stake in shares of Prudential Financial in the fourth quarter worth approximately $55,000. Hopwood Financial Services Inc. purchased a new stake in shares of Prudential Financial during the fourth quarter worth approximately $34,000. Farther Finance Advisors LLC raised its stake in Prudential Financial by 1.0% in the 4th quarter. Farther Finance Advisors LLC now owns 10,372 shares of the financial services provider’s stock valued at $1,229,000 after purchasing an additional 102 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in Prudential Financial by 30.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 10,442 shares of the financial services provider’s stock valued at $1,238,000 after purchasing an additional 2,461 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Trading Down 1.2 %

NYSE PRU opened at $104.79 on Friday. Prudential Financial, Inc. has a 12 month low of $104.45 and a 12 month high of $130.55. The stock has a market capitalization of $37.52 billion, a P/E ratio of 14.03, a PEG ratio of 0.98 and a beta of 1.28. The firm’s 50-day moving average is $114.52 and its two-hundred day moving average is $119.44. 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 posted its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were issued a $1.35 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.15%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is 72.29%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley dropped their target price on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Keefe, Bruyette & Woods cut their price objective on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. Barclays upped their price target on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Jefferies Financial Group lifted their price objective on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company raised 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. 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 given a strong buy rating to the stock. According to data from MarketBeat, Prudential Financial presently has an average rating of “Hold” and an average price target of $126.15.

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.