New York State Common Retirement Fund increased its holdings in Prudential Financial, Inc. (NYSE:PRU – Get Rating) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 436,348 shares of the financial services provider’s stock after acquiring an additional 3,123 shares during the period. New York State Common Retirement Fund owned about 0.12% of Prudential Financial worth $43,399,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of PRU. Kistler Tiffany Companies LLC increased its position in Prudential Financial by 7.3% in the 3rd quarter. Kistler Tiffany Companies LLC now owns 1,481 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 101 shares during the last quarter. Gilbert & Cook Inc. increased its position in Prudential Financial by 1.3% in the 3rd quarter. Gilbert & Cook Inc. now owns 8,152 shares of the financial services provider’s stock worth $858,000 after purchasing an additional 104 shares during the last quarter. Savant Capital LLC increased its position in Prudential Financial by 1.1% in the 3rd quarter. Savant Capital LLC now owns 9,740 shares of the financial services provider’s stock worth $835,000 after purchasing an additional 105 shares during the last quarter. Perritt Capital Management Inc. increased its position in Prudential Financial by 2.0% in the 3rd quarter. Perritt Capital Management Inc. now owns 5,492 shares of the financial services provider’s stock worth $471,000 after purchasing an additional 107 shares during the last quarter. Finally, Buckingham Strategic Wealth LLC increased its position in Prudential Financial by 2.1% in the 3rd quarter. Buckingham Strategic Wealth LLC now owns 5,262 shares of the financial services provider’s stock worth $451,000 after purchasing an additional 108 shares during the last quarter. 56.33% of the stock is owned by hedge funds and other institutional investors.
Prudential Financial Stock Performance
PRU opened at $84.87 on Friday. The stock’s 50 day moving average price is $91.08 and its two-hundred day moving average price is $97.19. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.16. Prudential Financial, Inc. has a 12-month low of $75.37 and a 12-month high of $122.54.
Prudential Financial declared that its Board of Directors has initiated a stock buyback plan on Tuesday, February 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
Prudential Financial Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 16th. Investors of record on Tuesday, February 21st were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 5.89%. The ex-dividend date of this dividend was Friday, February 17th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.20. Prudential Financial’s dividend payout ratio (DPR) is -126.90%.
Insider Buying and Selling
In related news, EVP Andrew F. Sullivan sold 11,405 shares of the firm’s stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $100.95, for a total transaction of $1,151,334.75. Following the completion of the transaction, the executive vice president now owns 12,300 shares in the company, valued at approximately $1,241,685. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Andrew F. Sullivan sold 11,405 shares of the firm’s stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $100.95, for a total transaction of $1,151,334.75. Following the completion of the transaction, the executive vice president now owns 12,300 shares in the company, valued at approximately $1,241,685. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrew F. Sullivan sold 4,126 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $99.20, for a total value of $409,299.20. Following the transaction, the executive vice president now owns 12,241 shares of the company’s stock, valued at approximately $1,214,307.20. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on PRU. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $110.00 target price on shares of Prudential Financial in a research report on Thursday, February 9th. StockNews.com started coverage on Prudential Financial in a report on Thursday, March 16th. They set a “hold” rating on the stock. The Goldman Sachs Group lowered Prudential Financial from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $98.00 to $96.00 in a report on Monday, January 9th. Piper Sandler reissued a “neutral” rating and set a $106.00 price objective on shares of Prudential Financial in a report on Wednesday, February 8th. Finally, Barclays lowered their price objective on Prudential Financial from $104.00 to $88.00 and set an “equal weight” rating on the stock in a report on Wednesday. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Prudential Financial has an average rating of “Hold” and an average price target of $101.58.
Prudential Financial Company Profile
Prudential Financial, Inc engages in the provision of insurance, investment management, and other financial products and services to both individual and institutional customers. It operates through the following segments: PGIM, U.S. Businesses, International Businesses, Closed Block, and Corporate and Others.
Featured Articles
- Get a free copy of the StockNews.com research report on Prudential Financial (PRU)
- Delta Airlines Is Ready To Fly Higher
- Global Payments Climbs After Goldman Sachs Upgrade
- Fastenal Is At A Critical Turning Point
- 3 Healthcare Stocks Insiders Are Buying
- Novo Nordisk Charges Higher and Could be Just Getting Started
Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial, Inc. (NYSE:PRU – Get Rating).
Receive News & Ratings for Prudential Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial and related companies with MarketBeat.com's FREE daily email newsletter.
