Texas Permanent School Fund Has $13.04 Million Stake in Prudential Financial, Inc. (PRU)

Texas Permanent School Fund cut its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,537 shares of the financial services provider’s stock after selling 5,102 shares during the period. Texas Permanent School Fund’s holdings in Prudential Financial were worth $13,035,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Guardian Life Insurance Co. of America increased its stake in shares of Prudential Financial by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 1,658 shares of the financial services provider’s stock valued at $177,000 after buying an additional 5 shares during the period. Sigma Planning Corp increased its stake in shares of Prudential Financial by 0.3% in the first quarter. Sigma Planning Corp now owns 3,449 shares of the financial services provider’s stock valued at $368,000 after buying an additional 10 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of Prudential Financial by 0.9% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,018 shares of the financial services provider’s stock valued at $218,000 after buying an additional 18 shares during the period. Trust Co increased its stake in shares of Prudential Financial by 1.0% in the first quarter. Trust Co now owns 2,024 shares of the financial services provider’s stock valued at $216,000 after buying an additional 20 shares during the period. Finally, Koshinski Asset Management Inc. increased its stake in shares of Prudential Financial by 0.4% in the first quarter. Koshinski Asset Management Inc. now owns 5,541 shares of the financial services provider’s stock valued at $591,000 after buying an additional 24 shares during the period. Institutional investors and hedge funds own 63.51% of the company’s stock.

Shares of Prudential Financial, Inc. (PRU) traded down 0.35% during trading on Friday, hitting $105.69. 2,239,384 shares of the stock were exchanged. Prudential Financial, Inc. has a 52 week low of $74.85 and a 52 week high of $115.26. The stock’s 50 day moving average price is $110.42 and its 200 day moving average price is $108.12. The firm has a market capitalization of $45.13 billion, a price-to-earnings ratio of 11.80 and a beta of 1.50.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.70 by $0.61. Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. The business had revenue of $13.03 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same quarter last year, the company posted $1.84 EPS. On average, equities analysts predict that Prudential Financial, Inc. will post $10.22 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Tuesday, August 22nd will be issued a $0.75 dividend. The ex-dividend date is Friday, August 18th. This represents a $3.00 annualized dividend and a yield of 2.84%. Prudential Financial’s dividend payout ratio (DPR) is presently 33.63%.

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PRU has been the subject of several research reports. BidaskClub downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday. Deutsche Bank AG raised their price objective on shares of Prudential Financial from $114.00 to $117.00 and gave the stock a “buy” rating in a research report on Wednesday, April 19th. Zacks Investment Research downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Wells Fargo & Company restated a “hold” rating on shares of Prudential Financial in a research report on Tuesday, June 6th. Finally, Credit Suisse Group lowered their target price on shares of Prudential Financial from $121.00 to $120.00 and set a “neutral” rating on the stock in a report on Tuesday, May 23rd. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $111.21.

In other news, insider Nicholas C. Silitch sold 14,897 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total transaction of $1,638,670.00. Following the sale, the insider now owns 21,274 shares of the company’s stock, valued at approximately $2,340,140. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $110.00, for a total transaction of $22,174,350.00. Following the sale, the chairman now directly owns 456,121 shares in the company, valued at approximately $50,173,310. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,615 shares of company stock worth $24,276,660. 0.66% of the stock is owned by corporate insiders.

Prudential Financial Company 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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