Teacher Retirement System of Texas Has $17.26 Million Stake in Prudential Financial Inc (PRU)

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Teacher Retirement System of Texas reduced its stake in shares of Prudential Financial Inc (NYSE:PRU) by 30.4% during the 1st quarter, HoldingsChannel reports. The fund owned 187,810 shares of the financial services provider’s stock after selling 82,010 shares during the quarter. Teacher Retirement System of Texas’ holdings in Prudential Financial were worth $17,256,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Somerset Trust Co raised its stake in Prudential Financial by 276.4% during the 1st quarter. Somerset Trust Co now owns 414 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 304 shares in the last quarter. Semmax Financial Advisors Inc. acquired a new stake in Prudential Financial during the 4th quarter worth $35,000. Old North State Trust LLC raised its stake in Prudential Financial by 46.5% during the 4th quarter. Old North State Trust LLC now owns 438 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 139 shares in the last quarter. Baldwin Brothers Inc. MA raised its stake in Prudential Financial by 146.7% during the 4th quarter. Baldwin Brothers Inc. MA now owns 454 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 270 shares in the last quarter. Finally, PRW Wealth Management LLC acquired a new stake in Prudential Financial during the 4th quarter worth $39,000. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Shares of NYSE:PRU traded up $0.20 during midday trading on Friday, hitting $99.61. The stock had a trading volume of 20,392 shares, compared to its average volume of 1,836,467. The company has a market cap of $40.04 billion, a price-to-earnings ratio of 8.51, a PEG ratio of 0.85 and a beta of 1.48. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.33. Prudential Financial Inc has a 1 year low of $75.61 and a 1 year high of $106.64.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, May 1st. The financial services provider reported $3.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.14 by ($0.14). The firm had revenue of $13.65 billion during the quarter, compared to analysts’ expectations of $13.74 billion. Prudential Financial had a net margin of 6.18% and a return on equity of 9.87%. During the same period in the previous year, the firm earned $3.08 EPS. On average, research analysts forecast that Prudential Financial Inc will post 12.81 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, May 28th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend is Friday, May 24th. Prudential Financial’s payout ratio is 34.22%.

In related news, insider Stephen Pelletier sold 26,006 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $94.04, for a total value of $2,445,604.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas C. Silitch sold 13,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $95.25, for a total transaction of $1,238,250.00. The disclosure for this sale can be found here. 0.76% of the stock is owned by insiders.

Several research analysts have issued reports on PRU shares. UBS Group raised their price objective on shares of Prudential Financial from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $113.00 price objective on the stock in a research report on Wednesday, May 8th. ValuEngine raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Deutsche Bank raised their price objective on shares of Prudential Financial from $97.00 to $104.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Prudential Financial currently has an average rating of “Buy” and an average price target of $111.71.

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About Prudential Financial

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.

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

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