Regent Investment Management LLC Sells 190 Shares of Prudential Financial, Inc. (NYSE:PRU)

Regent Investment Management LLC cut its holdings in shares of Prudential Financial, Inc. (NYSE:PRUGet Rating) by 0.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,845 shares of the financial services provider’s stock after selling 190 shares during the period. Regent Investment Management LLC’s holdings in Prudential Financial were worth $1,899,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PRU. BlackRock Inc. lifted its position in Prudential Financial by 1.5% during the first quarter. BlackRock Inc. now owns 32,183,900 shares of the financial services provider’s stock valued at $3,803,171,000 after acquiring an additional 465,588 shares during the last quarter. Vanguard Group Inc. lifted its position in Prudential Financial by 1.9% during the first quarter. Vanguard Group Inc. now owns 31,119,980 shares of the financial services provider’s stock valued at $3,677,448,000 after acquiring an additional 577,475 shares during the last quarter. State Street Corp lifted its position in Prudential Financial by 1.5% during the first quarter. State Street Corp now owns 18,782,147 shares of the financial services provider’s stock valued at $2,219,486,000 after acquiring an additional 282,166 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Prudential Financial by 6.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,353,887 shares of the financial services provider’s stock valued at $750,839,000 after acquiring an additional 356,957 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Prudential Financial by 4.3% during the first quarter. Bank of New York Mellon Corp now owns 3,302,065 shares of the financial services provider’s stock valued at $390,205,000 after acquiring an additional 136,133 shares during the last quarter. 57.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of analyst reports. Royal Bank of Canada decreased their target price on shares of Prudential Financial from $125.00 to $112.00 and set a “sector perform” rating for the company in a research report on Monday, July 11th. Evercore ISI decreased their price target on shares of Prudential Financial to $90.00 in a report on Tuesday, August 9th. Morgan Stanley raised their price target on shares of Prudential Financial from $103.00 to $108.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 17th. Raymond James started coverage on shares of Prudential Financial in a report on Wednesday. They issued a “strong-buy” rating and a $115.00 price target for the company. Finally, The Goldman Sachs Group decreased their price target on shares of Prudential Financial from $116.00 to $99.00 and set a “neutral” rating for the company in a report on Monday, June 6th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Prudential Financial has a consensus rating of “Hold” and a consensus target price of $105.62.

Prudential Financial Stock Performance

PRU stock traded down $3.23 during midday trading on Friday, hitting $87.75. 38,136 shares of the stock traded hands, compared to its average volume of 1,624,972. The firm has a market cap of $32.64 billion, a P/E ratio of 16.85, a PEG ratio of 1.02 and a beta of 1.40. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.07 and a quick ratio of 0.07. The stock’s fifty day simple moving average is $97.51 and its 200-day simple moving average is $103.33. Prudential Financial, Inc. has a 1-year low of $89.73 and a 1-year high of $124.22.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, August 23rd were given a dividend of $1.20 per share. The ex-dividend date was Monday, August 22nd. This represents a $4.80 annualized dividend and a yield of 5.47%. Prudential Financial’s dividend payout ratio is presently 88.89%.

About Prudential Financial

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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 eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.

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

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