Stevens Capital Management LP Acquires Shares of 2,693 Prudential Financial, Inc. (NYSE:PRU)

Stevens Capital Management LP bought a new stake in Prudential Financial, Inc. (NYSE:PRU) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,693 shares of the financial services provider’s stock, valued at approximately $319,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PRU. Grove Bank & Trust increased its holdings 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 in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Prudential Financial during the 4th quarter valued at approximately $29,000. CGC Financial Services LLC boosted its stake in shares of Prudential Financial by 82.1% during the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new position in Prudential Financial in the 4th quarter valued at approximately $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 worth $34,000 after purchasing an additional 222 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Trading Up 2.8 %

NYSE PRU opened at $113.35 on Tuesday. The company has a market cap of $40.58 billion, a P/E ratio of 15.17, a P/E/G ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a 12 month low of $104.45 and a 12 month high of $130.55. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The company has a 50-day moving average of $113.51 and a 200-day moving average of $119.00.

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 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, equities analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were paid a dividend of $1.35 per share. The ex-dividend date was Tuesday, February 18th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.76%. Prudential Financial’s dividend payout ratio is currently 72.29%.

Insider Transactions at Prudential Financial

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $28.72 per share, with a total value 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. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PRU. Barclays raised their price target 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. Jefferies Financial Group lifted their target price 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. BMO Capital Markets began coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target on the stock. Keefe, Bruyette & Woods cut their price objective 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. Finally, Morgan Stanley dropped their price target on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research report 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 issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $126.15.

Prudential Financial Company 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.