Piedmont Investment Advisors LLC Has $17.52 Million Holdings in Prudential Financial, Inc. (PRU)

Piedmont Investment Advisors LLC raised its stake in Prudential Financial, Inc. (NYSE:PRU) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 164,787 shares of the financial services provider’s stock after buying an additional 2,184 shares during the quarter. Piedmont Investment Advisors LLC’s holdings in Prudential Financial were worth $17,520,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. BlackRock Inc. grew its holdings in Prudential Financial by 2.9% in the 2nd quarter. BlackRock Inc. now owns 33,155,309 shares of the financial services provider’s stock valued at $3,585,415,000 after buying an additional 934,352 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Prudential Financial by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 30,885,285 shares of the financial services provider’s stock worth $3,339,935,000 after purchasing an additional 612,799 shares during the period. Capital Research Global Investors grew its holdings in shares of Prudential Financial by 1.2% during the 2nd quarter. Capital Research Global Investors now owns 13,662,673 shares of the financial services provider’s stock worth $1,477,481,000 after purchasing an additional 162,833 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Prudential Financial by 11.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,157,881 shares of the financial services provider’s stock worth $449,637,000 after purchasing an additional 442,168 shares during the period. Finally, LSV Asset Management grew its holdings in shares of Prudential Financial by 1.0% during the 2nd quarter. LSV Asset Management now owns 3,372,864 shares of the financial services provider’s stock worth $364,741,000 after purchasing an additional 32,998 shares during the period. Institutional investors own 64.65% of the company’s stock.

Prudential Financial, Inc. (NYSE:PRU) traded down $0.89 on Tuesday, reaching $116.26. The company had a trading volume of 1,460,000 shares, compared to its average volume of 1,842,974. Prudential Financial, Inc. has a 1 year low of $97.88 and a 1 year high of $117.99. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.34. The firm has a market cap of $49,671.60, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.32 and a beta of 1.55.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.71 by $0.30. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. The firm had revenue of $13.36 billion for the quarter, compared to analyst estimates of $12.24 billion. During the same quarter in the prior year, the company earned $2.66 EPS. research analysts anticipate that Prudential Financial, Inc. will post 10.44 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Monday, November 27th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Friday, November 24th. Prudential Financial’s payout ratio is 30.18%.

A number of research firms have recently weighed in on PRU. Morgan Stanley increased their price target on Prudential Financial from $123.00 to $124.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. B. Riley reiterated a “buy” rating on shares of Prudential Financial in a report on Monday, November 6th. ValuEngine cut Prudential Financial from a “strong-buy” rating to a “buy” rating in a report on Friday, November 10th. Wells Fargo & Company reiterated a “hold” rating and set a $120.00 price target (up from $114.00) on shares of Prudential Financial in a report on Wednesday, November 8th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $121.00 price target on shares of Prudential Financial in a report on Monday, October 16th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Prudential Financial has an average rating of “Buy” and an average price target of $115.64.

In other Prudential Financial news, EVP Charles F. Lowrey sold 44,630 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $111.91, for a total value of $4,994,543.30. Following the sale, the executive vice president now owns 79,354 shares of the company’s stock, valued at approximately $8,880,506.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy P. Harris sold 10,527 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $115.00, for a total value of $1,210,605.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,017 shares of company stock worth $11,219,151. 0.66% of the stock is owned by corporate insiders.

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Prudential Financial Profile

Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.

Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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