Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 21.0% during the fourth quarter, Holdings Channel reports. The fund owned 96,761 shares of the financial services provider’s stock after purchasing an additional 16,783 shares during the quarter. Quantinno Capital Management LP’s holdings in Prudential Financial were worth $11,469,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PRU. Grove Bank & Trust boosted its stake in shares of Prudential Financial by 65.9% during 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 shares of Prudential Financial during the fourth quarter valued at $29,000. CGC Financial Services LLC boosted its stake in shares of Prudential Financial by 82.1% during 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. purchased a new position in Prudential Financial during the fourth quarter worth about $33,000. Finally, Hopwood Financial Services Inc. purchased a new position in Prudential Financial during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In related news, 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 transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of Prudential Financial stock in a transaction that occurred on Tuesday, March 25th. The shares were bought at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the transaction, the insider now directly owns 139,987 shares in the company, valued at approximately $3,992,429.24. This trade represents a 60.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on PRU. Keefe, Bruyette & Woods reduced their target price on Prudential Financial from $120.00 to $117.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 7th. Morgan Stanley reduced their target price on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Wells Fargo & Company increased their target price on Prudential Financial from $108.00 to $113.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. UBS Group reduced their price objective on Prudential Financial from $130.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $121.92.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $106.16 on Thursday. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The business has a 50 day moving average price of $104.66 and a two-hundred day moving average price of $114.31. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm has a market cap of $37.58 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07.

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

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be given a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $5.40 annualized dividend and a dividend yield of 5.09%. Prudential Financial’s payout ratio is 85.58%.

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.