Prudential Financial Inc (PRU) Holdings Reduced by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System lowered its position in Prudential Financial Inc (NYSE:PRU) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 517,733 shares of the financial services provider’s stock after selling 12,445 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.12% of Prudential Financial worth $52,457,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PRU. Flagship Harbor Advisors LLC acquired a new position in Prudential Financial in the 2nd quarter worth $104,000. Sun Life Financial INC lifted its holdings in Prudential Financial by 470.9% in the 2nd quarter. Sun Life Financial INC now owns 1,136 shares of the financial services provider’s stock worth $106,000 after buying an additional 937 shares in the last quarter. Vigilant Capital Management LLC acquired a new position in Prudential Financial in the 2nd quarter worth $125,000. Financial Architects Inc lifted its holdings in Prudential Financial by 303.9% in the 2nd quarter. Financial Architects Inc now owns 1,640 shares of the financial services provider’s stock worth $153,000 after buying an additional 1,234 shares in the last quarter. Finally, Centaurus Financial Inc. acquired a new position in Prudential Financial in the 2nd quarter worth $157,000. Hedge funds and other institutional investors own 63.56% of the company’s stock.

Shares of Prudential Financial stock opened at $95.91 on Friday. The stock has a market capitalization of $39.99 billion, a PE ratio of 8.13, a P/E/G ratio of 0.87 and a beta of 1.44. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.34. Prudential Financial Inc has a 1 year low of $89.33 and a 1 year high of $127.14.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, August 1st. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.07). The company had revenue of $13.04 billion during the quarter, compared to analyst estimates of $14.19 billion. Prudential Financial had a net margin of 13.16% and a return on equity of 9.98%. During the same quarter last year, the company posted $2.09 EPS. Sell-side analysts forecast that Prudential Financial Inc will post 12.21 earnings per share for the current year.

In other Prudential Financial news, major shareholder Prudential Financial Inc acquired 880,000 shares of the stock in a transaction that occurred on Tuesday, October 16th. The stock was acquired at an average price of $25.00 per share, with a total value of $22,000,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Scott Sleyster sold 23,300 shares of the business’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $99.74, for a total transaction of $2,323,942.00. Following the sale, the insider now directly owns 57,758 shares of the company’s stock, valued at approximately $5,760,782.92. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

A number of brokerages have commented on PRU. Barclays cut their price objective on shares of Prudential Financial from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Monday, July 9th. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a research note on Monday, August 6th. B. Riley cut their target price on shares of Prudential Financial from $129.00 to $116.00 and set a “buy” rating on the stock in a research note on Monday, July 16th. UBS Group upped their target price on shares of Prudential Financial from $125.00 to $126.00 and gave the company a “buy” rating in a research note on Monday, October 8th. Finally, ValuEngine upgraded shares of Prudential Financial from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $119.92.

Prudential Financial Profile

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.

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

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