Centiva Capital LP Has $977,000 Position in Prudential Financial, Inc. $PRU

Centiva Capital LP lessened its holdings in Prudential Financial, Inc. (NYSE:PRU) by 39.3% during the third quarter, Holdings Channel reports. The fund owned 9,417 shares of the financial services provider’s stock after selling 6,101 shares during the period. Centiva Capital LP’s holdings in Prudential Financial were worth $977,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Watch Advisors INC acquired a new stake in shares of Prudential Financial during the 3rd quarter worth about $30,000. Chilton Capital Management LLC grew its stake in Prudential Financial by 146.5% in the 3rd quarter. Chilton Capital Management LLC now owns 350 shares of the financial services provider’s stock valued at $36,000 after buying an additional 208 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in Prudential Financial in the 2nd quarter valued at about $36,000. AlphaCore Capital LLC bought a new position in Prudential Financial in the 2nd quarter valued at about $39,000. Finally, Capital A Wealth Management LLC lifted its position in Prudential Financial by 4,600.0% during the second quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 368 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Thomas D. Stoddard bought 250 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were purchased at an average cost of $102.97 per share, with a total value of $25,742.50. Following the acquisition, the director directly owned 250 shares in the company, valued at $25,742.50. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph J. Wolk bought 400 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was purchased at an average price of $105.32 per share, with a total value of $42,128.00. Following the completion of the transaction, the director directly owned 400 shares in the company, valued at approximately $42,128. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 1,408,389 shares of company stock worth $35,154,439 in the last ninety days. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Morgan Stanley decreased their target price on Prudential Financial from $120.00 to $111.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 3rd. JPMorgan Chase & Co. dropped their price target on Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a report on Wednesday, February 4th. UBS Group upped their price objective on Prudential Financial from $111.00 to $116.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Wells Fargo & Company cut Prudential Financial from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $115.00 to $103.00 in a research report on Wednesday, February 25th. Finally, Evercore reissued a “negative” rating on shares of Prudential Financial in a report on Friday, March 6th. Nine research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $115.22.

Prudential Financial Trading Down 0.3%

Shares of PRU stock opened at $92.02 on Monday. The stock has a market cap of $32.02 billion, a P/E ratio of 9.20, a price-to-earnings-growth ratio of 1.13 and a beta of 0.98. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $119.76. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The stock has a 50 day simple moving average of $105.76 and a 200 day simple moving average of $106.55.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $3.30 EPS for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.07). The company had revenue of $14.52 billion for the quarter, compared to the consensus estimate of $14.48 billion. Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.During the same quarter last year, the business earned $2.96 EPS. On average, research 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 declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Tuesday, February 17th were given a $1.40 dividend. The ex-dividend date was Tuesday, February 17th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.35. This represents a $5.60 dividend on an annualized basis and a dividend yield of 6.1%. Prudential Financial’s dividend payout ratio (DPR) is 56.00%.

Prudential Financial Company 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.