Naples Global Advisors LLC Sells 365 Shares of Prudential Financial, Inc. (NYSE:PRU)

Naples Global Advisors LLC reduced its position in Prudential Financial, Inc. (NYSE:PRU) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,589 shares of the financial services provider’s stock after selling 365 shares during the quarter. Naples Global Advisors LLC’s holdings in Prudential Financial were worth $1,966,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PRU. Grove Bank & Trust raised its holdings in shares of Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Prudential Financial in the third quarter worth $31,000. CGC Financial Services LLC lifted its position 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 worth $33,000 after purchasing an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new position in shares of Prudential Financial in the fourth quarter worth about $33,000. Finally, Quarry LP increased its stake in Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after buying an additional 222 shares during the period. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Down 0.7 %

NYSE:PRU opened at $110.82 on Thursday. The firm has a 50 day moving average of $118.78 and a 200 day moving average of $120.07. The company has a quick ratio of 0.14, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 52 week low of $104.02 and a 52 week high of $130.55. The stock has a market capitalization of $39.45 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.00 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. As a group, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 4.87%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio is 69.61%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research note on Wednesday. Barclays raised their price objective on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Wells Fargo & Company lowered their target price on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. BMO Capital Markets assumed coverage on Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price target on the stock. Finally, Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their price objective for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $125.46.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the transaction, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.31% of the stock is currently owned by 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.