OneDigital Investment Advisors LLC Has $1.53 Million Position in Prudential Financial, Inc. (NYSE:PRU)

OneDigital Investment Advisors LLC lessened its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.7% in the third quarter, Holdings Channel.com reports. The fund owned 12,635 shares of the financial services provider’s stock after selling 88 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Prudential Financial were worth $1,530,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. International Assets Investment Management LLC lifted its stake in Prudential Financial by 4,130.8% in the third quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock valued at $157,219,000 after buying an additional 1,267,571 shares during the period. AQR Capital Management LLC increased its stake in shares of Prudential Financial by 97.4% in the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock valued at $84,874,000 after acquiring an additional 357,300 shares during the last quarter. Swedbank AB acquired a new stake in shares of Prudential Financial in the 1st quarter valued at approximately $35,855,000. Legal & General Group Plc boosted its stake in Prudential Financial by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock worth $415,134,000 after acquiring an additional 305,143 shares during the last quarter. Finally, Capital Advisors Inc. OK acquired a new position in Prudential Financial during the third quarter valued at approximately $30,226,000. Institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the topic of a number of recent analyst reports. UBS Group boosted their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Morgan Stanley lowered their price target on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. TD Cowen assumed coverage on Prudential Financial in a report on Wednesday, October 9th. They set a “hold” rating and a $130.00 price objective on the stock. Citigroup increased their target price on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a research note on Wednesday, August 21st. Eleven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $125.69.

Prudential Financial Price Performance

NYSE:PRU opened at $127.41 on Monday. The stock’s 50-day simple moving average is $122.20 and its 200 day simple moving average is $119.33. Prudential Financial, Inc. has a 52-week low of $93.32 and a 52-week high of $129.13. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The company has a market cap of $45.36 billion, a P/E ratio of 11.33, a P/E/G ratio of 0.91 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The company had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the prior year, the business posted $3.44 EPS. As a group, sell-side analysts forecast that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.08%. Prudential Financial’s dividend payout ratio is presently 46.22%.

Insider Activity

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the sale, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. This represents a 16.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of Prudential Financial stock in a transaction dated Tuesday, October 8th. The shares were acquired at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the purchase, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. This trade represents a 6.61 % increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is owned by insiders.

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.