Cigna Investments Inc. New Sells 167 Shares of Prudential Financial, Inc. (NYSE:PRU)

Cigna Investments Inc. New reduced its holdings in Prudential Financial, Inc. (NYSE:PRU) by 4.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,700 shares of the financial services provider’s stock after selling 167 shares during the period. Cigna Investments Inc. New’s holdings in Prudential Financial were worth $448,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. National Bank of Canada FI raised its position in Prudential Financial by 44.9% during the 1st quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock worth $27,327,000 after purchasing an additional 71,274 shares during the last quarter. ORG Partners LLC bought a new position in shares of Prudential Financial during the second quarter worth about $156,000. Russell Investments Group Ltd. boosted its holdings in Prudential Financial by 25.0% in the first quarter. Russell Investments Group Ltd. now owns 180,555 shares of the financial services provider’s stock valued at $21,171,000 after acquiring an additional 36,159 shares during the last quarter. PGGM Investments increased its position in Prudential Financial by 98.0% during the 2nd quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock valued at $7,533,000 after purchasing an additional 31,807 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its holdings in Prudential Financial by 6.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 406,295 shares of the financial services provider’s stock worth $47,699,000 after purchasing an additional 25,196 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the transaction, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was bought at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. UBS Group lifted their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Argus raised Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Citigroup raised 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. Wells Fargo & Company increased their price target on Prudential Financial from $113.00 to $116.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, Morgan Stanley lowered their price objective on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $123.77.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $121.28 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The firm’s 50-day simple moving average is $121.10 and its 200 day simple moving average is $118.25. The stock has a market cap of $43.30 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 0.97 and a beta of 1.30. Prudential Financial, Inc. has a fifty-two week low of $89.90 and a fifty-two week high of $128.52.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a return on equity of 15.66% and a net margin of 6.03%. The business had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the prior year, the company posted $3.44 earnings per share. As a group, research analysts anticipate that Prudential Financial, Inc. will post 13.3 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s payout ratio is currently 46.22%.

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.