Rhumbline Advisers Has $70.34 Million Stake in Prudential Financial, Inc. $PRU

Rhumbline Advisers trimmed its stake in Prudential Financial, Inc. (NYSE:PRU) by 1.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 678,046 shares of the financial services provider’s stock after selling 8,882 shares during the period. Rhumbline Advisers owned 0.19% of Prudential Financial worth $70,340,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PRU. ABC Arbitrage SA acquired a new stake in shares of Prudential Financial in the third quarter worth $3,395,000. Stratos Wealth Partners LTD. raised its holdings in Prudential Financial by 12.7% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 9,584 shares of the financial services provider’s stock worth $994,000 after acquiring an additional 1,079 shares during the period. Applied Finance Capital Management LLC lifted its position in Prudential Financial by 72.8% during the 3rd quarter. Applied Finance Capital Management LLC now owns 8,550 shares of the financial services provider’s stock worth $887,000 after acquiring an additional 3,603 shares during the last quarter. Providence Capital Advisors LLC boosted its holdings in Prudential Financial by 2.9% during the third quarter. Providence Capital Advisors LLC now owns 29,671 shares of the financial services provider’s stock valued at $3,078,000 after acquiring an additional 831 shares during the period. Finally, Versor Investments LP acquired a new stake in shares of Prudential Financial in the third quarter valued at about $1,774,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $104.12 on Friday. The firm has a market capitalization of $36.44 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 1.19 and a beta of 0.97. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $119.76. The business has a fifty day simple moving average of $112.02 and a 200 day simple moving average of $107.36. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.37 by ($0.07). The business had revenue of $15.69 billion during the quarter, compared to the consensus estimate of $14.48 billion. Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. During the same period last year, the firm earned $2.96 EPS. Sell-side analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Tuesday, February 17th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 5.4%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Tuesday, February 17th. Prudential Financial’s dividend payout ratio (DPR) is currently 54.00%.

Insider Activity

In related news, Director Joseph J. Wolk acquired 400 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were bought at an average cost of $105.32 per share, with a total value of $42,128.00. Following the completion of the acquisition, the director owned 400 shares of the company’s stock, valued at $42,128. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jacques Chappuis acquired 1,000 shares of the stock in a transaction dated Friday, February 6th. The stock was bought at an average price of $100.97 per share, for a total transaction of $100,970.00. Following the completion of the purchase, the executive vice president owned 1,000 shares in the company, valued at approximately $100,970. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 1,408,139 shares of company stock valued at $35,128,697. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PRU shares. JPMorgan Chase & Co. decreased their target price on Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a research note on Wednesday, February 4th. UBS Group upped their price target on Prudential Financial from $111.00 to $116.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Wall Street Zen downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Weiss Ratings upgraded shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Finally, Evercore decreased their price target on shares of Prudential Financial from $122.00 to $110.00 and set an “in-line” rating on the stock in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and an average target price of $117.11.

Prudential Financial Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.