Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Whittier Trust Co.

Whittier Trust Co. boosted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,140 shares of the financial services provider’s stock after acquiring an additional 314 shares during the period. Whittier Trust Co.’s holdings in Prudential Financial were worth $491,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Grove Bank & Trust lifted its stake in shares of Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in Prudential Financial in the fourth quarter valued at about $29,000. CGC Financial Services LLC increased 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 valued at $33,000 after acquiring an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in shares of Prudential Financial in the 4th quarter valued at approximately $33,000. Finally, Quarry LP lifted its holdings in shares of 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 acquiring an additional 222 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PRU. BMO Capital Markets initiated coverage on Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price on the stock. TD Cowen increased their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Keefe, Bruyette & Woods dropped their target price on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. Jefferies Financial Group increased their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $126.15.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the purchase, the insider now directly owns 87,047 shares of the company’s stock, valued at $2,499,989.84. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $635,880.00. Following the transaction, the executive vice president now directly owns 27,072 shares in the company, valued at approximately $2,869,090.56. This trade represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Prudential Financial Stock Performance

Shares of PRU stock opened at $110.35 on Friday. Prudential Financial, Inc. has a 12 month low of $104.45 and a 12 month 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 company has a market cap of $39.51 billion, a P/E ratio of 14.77, a PEG ratio of 0.98 and a beta of 1.28. The firm has a fifty day moving average price of $113.57 and a 200 day moving average price of $119.04.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Sell-side analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.89%. The ex-dividend date was Tuesday, February 18th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is currently 72.29%.

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.