Sentry Investment Management LLC Lowers Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Sentry Investment Management LLC trimmed its holdings in Prudential Financial, Inc. (NYSE:PRU) by 17.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,583 shares of the financial services provider’s stock after selling 324 shares during the quarter. Sentry Investment Management LLC’s holdings in Prudential Financial were worth $186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of PRU. Vanguard Group Inc. increased its stake in shares of Prudential Financial by 13.9% during the fourth quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock valued at $4,386,192,000 after purchasing an additional 5,154,865 shares in the last quarter. Norges Bank purchased a new position in Prudential Financial during the fourth quarter valued at $113,478,000. Swedbank AB purchased a new stake in shares of Prudential Financial in the first quarter worth $35,855,000. Schroder Investment Management Group raised its position in shares of Prudential Financial by 387.6% in the 4th quarter. Schroder Investment Management Group now owns 332,421 shares of the financial services provider’s stock worth $34,475,000 after purchasing an additional 264,247 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. bought a new position in Prudential Financial in the 4th quarter worth about $18,568,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Trading Up 0.0 %

Prudential Financial stock opened at $114.72 on Thursday. The business has a 50-day simple moving average of $117.95 and a two-hundred day simple moving average of $115.82. Prudential Financial, Inc. has a 52-week low of $87.95 and a 52-week high of $128.52. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The company has a market cap of $41.18 billion, a P/E ratio of 19.51, a P/E/G ratio of 0.88 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last announced its earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The business had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. Analysts predict that Prudential Financial, Inc. will post 13.31 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $5.20 annualized dividend and a yield of 4.53%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were purchased at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the purchase, the insider now directly owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the sale, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was acquired at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the purchase, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PRU has been the subject of several recent analyst reports. Argus raised shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Citigroup upped their price objective on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. UBS Group lifted their target price on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. upped their price target on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Finally, Jefferies Financial Group reduced their price objective on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $120.83.

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.