Victory Capital Management Inc. Sells 4,115 Shares of Prudential Financial, Inc. (NYSE:PRU)

Victory Capital Management Inc. decreased its stake in Prudential Financial, Inc. (NYSE:PRU) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,613 shares of the financial services provider’s stock after selling 4,115 shares during the quarter. Victory Capital Management Inc. owned approximately 0.07% of Prudential Financial worth $27,443,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Choreo LLC grew its holdings in shares of Prudential Financial by 163.5% in the 4th quarter. Choreo LLC now owns 6,940 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 4,306 shares during the last quarter. FMR LLC grew its stake in Prudential Financial by 2.9% during the third quarter. FMR LLC now owns 1,315,215 shares of the financial services provider’s stock worth $124,801,000 after buying an additional 36,599 shares during the last quarter. Arvest Investments Inc. acquired a new stake in shares of Prudential Financial during the fourth quarter worth approximately $2,112,000. Tyche Wealth Partners LLC bought a new position in shares of Prudential Financial in the fourth quarter valued at approximately $815,000. Finally, AustralianSuper Pty Ltd grew its position in Prudential Financial by 17.2% during the 4th quarter. AustralianSuper Pty Ltd now owns 868,535 shares of the financial services provider’s stock worth $90,076,000 after acquiring an additional 127,772 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PRU. Raymond James downgraded Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. Morgan Stanley upped their price target on shares of Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. TheStreet upgraded shares of Prudential Financial from a “c+” rating to an “a-” rating in a research report on Tuesday, February 6th. Wells Fargo & Company increased their price target on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. Finally, UBS Group boosted their price objective on shares of Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $111.08.

Insider Activity

In related news, EVP Ann M. Kappler sold 7,222 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the sale, the executive vice president now owns 24,381 shares of the company’s stock, valued at approximately $2,642,656.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Andrew F. Sullivan sold 7,685 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total transaction of $857,415.45. Following the completion of the sale, the executive vice president now owns 13,691 shares of the company’s stock, valued at $1,527,504.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ann M. Kappler sold 7,222 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total transaction of $782,792.58. Following the completion of the sale, the executive vice president now directly owns 24,381 shares in the company, valued at $2,642,656.59. The disclosure for this sale can be found here. Insiders sold 29,255 shares of company stock valued at $3,215,664 in the last quarter. Company insiders own 0.34% of the company’s stock.

Prudential Financial Stock Up 0.8 %

Shares of Prudential Financial stock opened at $116.23 on Wednesday. Prudential Financial, Inc. has a 12 month low of $77.87 and a 12 month high of $118.69. The business has a fifty day simple moving average of $112.48 and a 200 day simple moving average of $104.78. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. The stock has a market cap of $41.73 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 0.83 and a beta of 1.35.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The company had revenue of $15.01 billion for the quarter, compared to analyst estimates of $14.50 billion. During the same quarter in the previous year, the firm posted $2.66 earnings per share. Prudential Financial’s quarterly revenue was up 69.9% compared to the same quarter last year. Research analysts predict that Prudential Financial, Inc. will post 13.36 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.47%. Prudential Financial’s dividend payout ratio is 88.44%.

Prudential Financial Company Profile

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.