KMG Fiduciary Partners LLC Acquires 2,252 Shares of Prudential Financial, Inc. (NYSE:PRU)

KMG Fiduciary Partners LLC lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 6.3% in the first quarter, HoldingsChannel reports. The fund owned 37,883 shares of the financial services provider’s stock after buying an additional 2,252 shares during the period. KMG Fiduciary Partners LLC’s holdings in Prudential Financial were worth $4,231,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PRU. Norges Bank acquired a new position in Prudential Financial in the fourth quarter valued at about $115,878,000. Northern Trust Corp grew its stake in Prudential Financial by 23.7% in the fourth quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider’s stock valued at $555,513,000 after acquiring an additional 897,916 shares during the period. GAMMA Investing LLC grew its stake in Prudential Financial by 11,280.3% in the first quarter. GAMMA Investing LLC now owns 867,865 shares of the financial services provider’s stock valued at $96,923,000 after acquiring an additional 860,239 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Prudential Financial during the fourth quarter worth about $76,303,000. Finally, Marshall Wace LLP boosted its position in shares of Prudential Financial by 322.9% during the fourth quarter. Marshall Wace LLP now owns 711,102 shares of the financial services provider’s stock worth $84,287,000 after buying an additional 542,964 shares during the period. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

PRU stock opened at $105.63 on Friday. The stock has a 50-day moving average price of $102.63 and a 200-day moving average price of $111.85. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm has a market cap of $37.39 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07.

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

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Tuesday, May 20th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date of this dividend is Tuesday, May 20th. Prudential Financial’s payout ratio is 85.58%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wells Fargo & Company upped their target price on Prudential Financial from $108.00 to $113.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. Barclays reduced their price target on Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. Wall Street Zen downgraded Prudential Financial from a “hold” rating to a “sell” rating in a research report on Sunday. JPMorgan Chase & Co. reduced their target price on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Finally, UBS Group reduced their target price on Prudential Financial from $122.00 to $110.00 and set a “neutral” rating on the stock in a report on Tuesday, May 27th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Prudential Financial presently has a consensus rating of “Hold” and a consensus target price of $120.15.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the purchase, the insider now owns 87,047 shares of the company’s stock, valued at approximately $2,499,989.84. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the transaction, the executive vice president now owns 27,072 shares in the company, valued at $2,869,090.56. The trade was a 18.14% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Prudential Financial 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.