15,334 Shares in Prudential Financial, Inc. (NYSE:PRU) Bought by Quantbot Technologies LP

Quantbot Technologies LP bought a new position in Prudential Financial, Inc. (NYSE:PRU) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 15,334 shares of the financial services provider’s stock, valued at approximately $1,818,000.

Other institutional investors also recently bought and sold shares of the company. Grove Bank & Trust raised its holdings in Prudential Financial by 65.9% in the 4th 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 in the 4th quarter worth $29,000. CGC Financial Services LLC raised its holdings in 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 period. Wingate Wealth Advisors Inc. bought a new stake in Prudential Financial during the fourth quarter valued at about $33,000. Finally, Quarry LP raised its holdings in Prudential Financial by 376.3% during the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 222 shares during the period. 56.83% of the stock is owned by institutional investors.

Prudential Financial Stock Down 0.4 %

Shares of NYSE:PRU opened at $110.35 on Monday. The business has a 50 day simple moving average of $113.57 and a two-hundred day simple moving average of $119.03. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a 1 year low of $104.45 and a 1 year high of $130.55. The firm has a market capitalization of $39.51 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share 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%. On average, equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current 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 paid a $1.35 dividend. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a yield of 4.89%. Prudential Financial’s payout ratio is 72.29%.

Analysts Set New Price Targets

A number of research firms have commented on PRU. BMO Capital Markets began coverage on Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price target on the stock. Jefferies Financial Group raised their price target on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Piper Sandler decreased their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Morgan Stanley decreased their price target on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Finally, Barclays raised their price objective on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $126.15.

Insiders Place Their Bets

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 stock was bought at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the acquisition, the insider now directly owns 87,047 shares in the company, valued at approximately $2,499,989.84. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

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.