By otakuyassine3@gmail.com 
Fmr LLC lessened its position in Prudential Financial, Inc. (NYSE:PRU – Free Report) by 9.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,306,477 shares of the financial services provider’s stock after selling 137,811 shares during the period. Fmr LLC’s holdings in Prudential Financial were worth $154,857,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the company. Grove Bank & Trust boosted its holdings 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 worth $26,000 after purchasing an additional 87 shares during the period. Centricity Wealth Management LLC bought a new position in Prudential Financial during the 4th quarter valued at approximately $29,000. CGC Financial Services LLC lifted its holdings in Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after buying an additional 124 shares during the period. Wingate Wealth Advisors Inc. bought a new stake in shares of Prudential Financial in the 4th quarter worth approximately $33,000. Finally, Hopwood Financial Services Inc. purchased a new position in shares of Prudential Financial during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently weighed in on PRU shares. Keefe, Bruyette & Woods cut their price target on shares of Prudential Financial from $125.00 to $120.00 and set a “market perform” rating on the stock in a report on Wednesday, April 9th. UBS Group reduced their price target on shares of Prudential Financial from $130.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Wells Fargo & Company lowered their price objective on shares of Prudential Financial from $118.00 to $108.00 and set an “equal weight” rating for the company in a report on Thursday. Barclays reduced their target price on Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Morgan Stanley lowered their target price on 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. One investment analyst has rated the stock with a sell rating, ten have given 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, the company has an average rating of “Hold” and a consensus target price of $122.77.
View Our Latest Stock Analysis on Prudential Financial
Prudential Financial Trading Up 0.2 %
Prudential Financial stock opened at $98.70 on Monday. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55. The company has a market capitalization of $34.98 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11. The business’s fifty day simple moving average is $108.98 and its two-hundred day simple moving average is $117.56. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68.
Prudential Financial (NYSE:PRU – Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. As a group, equities analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.
Prudential Financial Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were given a $1.35 dividend. The ex-dividend date was Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 5.47%. Prudential Financial’s dividend payout ratio is 72.29%.
Insider Buying and Selling at Prudential Financial
In related news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the stock in a transaction on Wednesday, March 12th. The shares were 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. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial 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 sale, the executive vice president now owns 27,072 shares of the company’s stock, valued at $2,869,090.56. This represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.
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.
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