Graham Capital Management L.P. Has $904,000 Stake in Prudential Financial, Inc. (NYSE:PRU)

Graham Capital Management L.P. lowered its position in Prudential Financial, Inc. (NYSE:PRU) by 81.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,630 shares of the financial services provider’s stock after selling 33,253 shares during the quarter. Graham Capital Management L.P.’s holdings in Prudential Financial were worth $904,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PRU. Grove Bank & Trust lifted its stake in Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 87 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in Prudential Financial in the fourth quarter valued at $29,000. CGC Financial Services LLC lifted its stake in Prudential Financial by 82.1% in the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in Prudential Financial in the fourth quarter valued at $33,000. Finally, Hopwood Financial Services Inc. acquired a new stake in Prudential Financial in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were bought at an average cost of $28.52 per share, with a total value of $1,500,009.40. Following the acquisition, the insider now owns 139,987 shares of the company’s stock, valued at $3,992,429.24. This trade represents a 60.18% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the sale, the executive vice president now directly owns 27,072 shares in the company, valued at $2,869,090.56. This trade represents a 18.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Prudential Financial Price Performance

NYSE:PRU opened at $107.48 on Wednesday. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The firm has a market cap of $38.05 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 0.98 and a beta of 1.07. The firm’s 50-day simple moving average is $104.77 and its 200 day simple moving average is $114.37. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.11. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. The business had revenue of $13.61 billion for the quarter, compared to analyst estimates of $14.76 billion. During the same period last year, the firm earned $3.12 earnings per share. Prudential Financial’s revenue for the quarter was down 38.2% compared to the same quarter last year. As a group, sell-side analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 5.02%. The ex-dividend date is Tuesday, May 20th. Prudential Financial’s dividend payout ratio is currently 85.58%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Piper Sandler cut their target price on shares of Prudential Financial from $110.00 to $109.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Morgan Stanley cut their target price on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Barclays cut their target price on shares of Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. UBS Group cut their target price on shares of Prudential Financial from $130.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Finally, BMO Capital Markets assumed coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $121.92.

About Prudential Financial

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.